Moca Foundation, the community-owned foundation behind Moca Network, is launching Moca Chain, a Layer-1 blockchain for identity and user data.
Moca Chain testnet will launch in the third quarter of this year. Mainnet will follow in Q4. Key use cases, the team claims, include healthcare, finance, recruitment, and advertising.
Per the press release shared with Cryptonews, this will be a modular, EVM-compatible platform, interoperable with other chains.
It will utilise the MOCA Coin and established partnerships, including SK Planet’s OK Cashbag and OneFootball (which together count nearly 230 million users), for cross-chain identity verification.
Moreover, MOCA Coin will be the core token for gas, validator staking, storage, oracle, data generation, and verification fees.
Furthermore, Moca Chain will allow verification of both on- and off-chain user data through “any applications on any chains.”
The chain’s identity layer will support “seamless movement of user attributes” such as loyalty points, social proof, and access rights across decentralized apps (dapps). The team claims that this approach “will enable users to unlock access and rewards across platforms without exposing private data, while maintaining a unified identity that is fully under their control.”
Additionally, the teams building protocols on Moca Chain can “choose to issue or verify reusable on- and off-chain user data and credentials for monetization.” The data issued to the end user can be verified “everywhere” via zero-knowledge proofs.
This is “fostering ecosystem growth by cross-pollinating users without any direct API integrations, shifting the counterparty of verifiers from centralized platforms to end users,” the team argues.
Reaching “Over 700 Million Addressable Users”
Moca Network is one of the launch partners of Moca Chain. Moca Network is the identity ecosystem of Animoca Brands, a major metaverse and gaming venture capital firm, which is currently eyeing an IPO. Back in October 2023, the company raised $20 million to expand its flagship digital identity infrastructure platform Mocaverse.
Moreover, Moca Chain will work alongside the network’s account, identity, and reputation software development kit (AIR Kit). Developers can use this kit to create user-friendly apps with smart accounts and verifiable credentials.
The AIR Kit is integrated into major Web2 platforms, as well as into offerings by a number of partners and affiliates. These reach “over 700 million addressable users.”
Per the announcement, “Moca Chain will support the development of identity protocols in respective industry verticals to enable individuals, devices, and AI agents to control, unify, and verify their digital credentials without relying on centralized platforms, and accelerate user-centric yet privacy-preserved growth via integrations with consumer applications.”
Yat Siu, co-founder and executive chairman of Animoca Brands, argued that billions of people use single sign-on (SSO), but that these have a centralized point of failure. On the contrary, Moca Chain will give users decentralized ownership of their data, without a single point of failure, Sui says.
Kenneth Shek, project lead of Moca Network, added that “by adopting Moca Chain and MOCA Coin, we believe we can disrupt current models of data ownership and break down the dominance of walled garden ecosystems, returning value to the users who generate it and making ecosystem growth more scalable.”
The post Animoca Brand’s Moca Network Unveils Identity-Focused Moca Chain appeared first on Cryptonews.
