Hakata provides a modular solution that utilizes zero-knowledge proofs and verifiable credentials to enable Web2 and Web3 businesses to ensure user privacy while maintaining compliance with global regulations such as KYC and AML. By decentralizing the storage of identity credentials in user wallets, Hakata enhances data sovereignty and facilitates secure, privacy-preserving data exchange.
Funding
Funding not disclosed
Founders
Product
Problem
Web2 and Web3 businesses face increasing challenges in balancing user privacy with compliance requirements like KYC and AML. Traditional methods often involve centralized data storage, creating vulnerabilities and hindering user data sovereignty.
Solution
Hakata offers a modular solution leveraging zero-knowledge proofs and verifiable credentials to enable privacy-preserving compliance. The platform connects users to identity providers for KYC, KYB, and AML checks, issuing verifiable credentials stored in user wallets. These credentials, enhanced with zero-knowledge proofs, allow users to selectively share information while maintaining privacy. Hakata's system ensures interoperability, enabling credentials to be verified across different providers and platforms via a simple API. Select regulatory mandated data is stored in a secure vault for competent authority requests.
Target Audience
Hakata targets Web2 and Web3 businesses seeking to enhance user privacy while adhering to regulatory compliance, including those in DeFi, and other sectors handling sensitive user data.
Features
- Orchestration of zero-knowledge proof (ZKP) creation based on regulatory and individualized rules.
- Connection to specialist third-party solution providers for KYC, KYB, and AML compliance.
- Creation of ZKPs wrapped in verifiable credentials, stored decentrally in user wallets.
- API for verifying verifiable credentials and zero-knowledge proofs.
- Modular design allowing expansion with evolving business needs.
- Support for both Web2 and Web3 businesses.
- Compliance with global AML and other regulations.