On August 15, a cryptocurrency exchange Coinbase announced that it had acquired Distributed Systems, a company that has been working on decentralized identity solutions.
The company said the Distributed Systems team is working with Coinbase to find new and innovative ways to validate and verify identities as cryptocurrency goes more mainstream.
“Distributed Systems is an incredibly thoughtful team that has been working on decentralized identity solutions. With their work on the Clear Protocol and GraphQL, Nikhil, Alex, and the rest of the team have gotten their hands dirty in the technical detail of using blockchains to improve how identities mesh with digital products. We believe decentralized identity systems represent a transformative shift in our relationship with technology, and we can’t wait to work on these opportunities together at Coinbase”, – wrote the Coinbase team in its blog.