Lido Alliance is preparing a blockchain identity verification platform with the codename "Y", benchmarking World Network.

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According to CoinDesk, according to informed sources, Cyber Fund led by Konstantin Lomashuk and Vasiliy Shapovalov, co-founders of Decentralized Finance giant Lido, is preparing a blockchain identity verification platform with the codename ‘Y’ to directly compete with Sam Altman’s World Network.

Unlike World Network’s use of iris scanning for identity verification, Project Y will verify user identity based on their social media and blockchain activity data, combined with Ethereum Attestation Service (ETHAS). This solution aims to address the risk of biometric data leakage and minimize potential fraud.

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