TL;DR, Hypersign conducted an Ask Me Anything (AMA) session with its founders Vikram and Irfan. The live session, hosted by Pankaj, Marketing Operations lead at Hypersign, covered a range of topics, including the company's achievements in 2023, integration with MotoGP, support from the Data Security Council of India, and plans for Q1 of 2024. Additionally, the founders addressed community concerns regarding recent market activities and outlined future strategies.
Key Achievements in 2023
Irfan, one of the founders, highlighted the challenges and successes of 2023, a year marked by market volatility and low product adoption. Despite the difficult conditions, Hypersign focused on shipping products, expanding its testnet, and exploring new use cases beyond Web3. Notable achievements included the launch of a Web3 KYC solution and collaborations with enterprises, governments, and educational institutions.
Integration with MotoGP
The founders shed light on the integration with MotoGP, where Hypersign's identity solution was employed during the first MotoGP event in India. Partnering with AtomX a BookmyShow holding company, a leading event and ticketing company, Hypersign provided a fast and cost-effective method for user age verification while ensuring data privacy. This successful implementation positioned Hypersign as a pioneer in deploying self-sovereign identity solutions for real-world events.
Support from the Data Security Council of India
Irfan explained the significance of Hypersign's collaboration with the Data Security Council of India, a public-private organization focused on data security and privacy. The partnership came at a crucial time when India introduced the Data Protection and Privacy Act, 2023. Hypersign's commitment to edge layer privacy technology aligned with the emerging privacy laws, garnering support from the council and positioning the company as a leader in privacy-preserving solutions.
Product Evolution and Categories
The conversation shifted to Hypersign's product evolution and the four main verticals it addresses: web 3, governments, enterprises, and universities. The founders emphasized the adaptability of their low-level infrastructure, allowing it to address diverse challenges in different industries. Noteworthy products mentioned included Web3 KYC, identity solutions for governments, passwordless login authentication for enterprises, and verifiable credential support for universities.
Plans for Q1 2024 and Test Net 2.0
Looking ahead to Q1 2024, Irfan shared Hypersign's focus on adoption and refining identity solutions for the Web3 space. The founders announced the upcoming launch of Test Net 2.0, featuring significant updates and improvements. Vikram elaborated on the planned grand event surrounding the launch, involving activities, partnerships, and discussions within the identity space.
Main Net Plans and Collaboration with Layer 1 Blockchains
When asked about the main net's timeline, Vikram explained that it depends on factors like the success of Test Net 2.0 and the development of essential dev tooling. He also teased a potential collaboration with layer 1 blockchains within the Cosmos ecosystem, enhancing Hypersign's multi-chain KYC capabilities.
Team Size and Hiring Plans for 2024
The founders provided insights into Hypersign's current team structure, consisting of around 10 full-time members and plans for future hires. They emphasized the importance of expanding the business development and marketing domains in 2024, seeking expertise to drive strategic growth.
Addressing Community Concerns
The AMA addressed concerns raised by the community regarding recent market activities. Irfan acknowledged the negative sentiments but urged a long-term perspective, emphasizing the reinvestment of funds into project development. The founders acknowledged the need for strategic financial planning and expressed openness to community suggestions.
Conclusion
Hypersign's recent AMA provided transparency into the company's achievements, challenges, and future plans. The founders' candid responses to community questions demonstrated a commitment to addressing concerns and building a sustainable and successful decentralized identity platform. As the project progresses into 2024, the community eagerly awaits the launch of Test Net 2.0 and further developments in Hypersign's mission to reshape the digital identity landscape.
Listen to the entire AMA here. https://twitter.com/i/spaces/1OyJAWzDOWMKb
Listen to the entire AMA here. https://twitter.com/i/spaces/1OyJAWzDOWMKb
About Hypersign
Hypersign is an innovative, permissionless blockchain network that manages digital identity and access rights. Rooted in the principles of Self-Sovereign Identity (SSI), Hypersign empowers individuals to take control of their data and access on the internet. It provides a scalable, interoperable, and secure verifiable data registry (VDR) that enables various use cases based on SSI. Built using the Cosmos-SDK, the Hypersign Identity Network is recognized by W3C (World Wide Web Consortium), promoting a seamless and secure identity management experience on the Internet.
Get in touch with us today to understand the nuances of the decentralized identifier and their real-world application at meet.hypersign@gmail.com
