Last year, over 12,195 confirmed data breaches were recorded worldwide — a record high. Over 2,000 were caused by stolen credentials, making identity-based attacks the top breach method across all threat sectors. That’s the equivalent of one credential-based breach happening every hour.
Why it matters: With credential abuse now central to modern cyberattacks, current identity verification is no longer defensible. Businesses must prioritize secure, risk-aware solutions to protect users, systems and reputation.
Ankur Banerjee is the CTO and co-founder of Cheqd, and co-chair of the Decentralized Identity Foundation’s Technical Steering Committee.
Today, he shares how decentralized identity, content authenticity and AI agents are reshaping trust and privacy on the Internet. Read now to understand how data portability will impact your business.
Governments push global age verification laws for social media
Lawmakers in Texas, the EU, Kenya and New Zealand are advancing legislation to mandate age verification for social media users. From biometric ID checks in Kenya to parental controls baked into devices in Europe, these proposals reflect a growing global push to restrict online access for minors.
Why it matters:
This shows that age verification is a global concern and no longer optional. For platforms and apps, the real challenge is verifying age without violating user privacy. That’s where selective disclosure comes in — enabling users to prove age without exposing full identities.
The World Wide Web Consortium (W3C) has officially published Verifiable Credentials 2.0 as a W3C standard. This updated specification strengthens privacy, supports selective disclosure, and simplifies the development of new credential types — providing clearer, more secure and interoperable ways to build trusted systems.
On May 15, 2025, the European Commission launched a call for feedback on the proposed EU Business Wallet. The consultation seeks input on specific challenges the wallet could address, such as regulatory burdens, fragmented national procedures and cross-border inefficiencies.
Ethiopia has introduced FaydaPass, a digital wallet co-developed with TECH5 and Visa to advance financial inclusion and digital ID access nationwide, marking a major milestone in the country’s digital transformation journey.
On May 7, 2025, the European Commission adoptedfournew Implementing Regulations for the EU Digital Identity Wallet. These establish rules for wallet certification, relying party registration, breach response, and cross-border identity matching — laying key legal groundwork for the next phase of Europe’s digital identity rollout.
📅 Don’t miss our CEO, Ace Shim, session on June 17 at 2:40 PM CET:
This is a great opportunity to learn about the challenges organizations will face in 2026 and how to navigate them. You’ll also discover the steps to become eIDAS-compliant — from registering as a relying party to implementation and deployment.
Cyber Security & Cloud Congress North America June 4–5, 2025 | Santa Clara, California
This event focuses on the intersection of cybersecurity and cloud technologies, covering key topics like threat detection, AI-driven security, data governance, and the future of digital infrastructure.
A two-day global tech event uniting leaders in AI, fintech, cybersecurity, and policy to explore how emerging technologies can drive innovation, security, and sustainable growth across industries. Hopae's team will be participate. Meet us there!
