DREP Monthly Report 1.1–1.31 | DREP DaaS Accelerating Web3 Adoption| DREP Keeping on Scaling Global Community
2023 is projected to be a year about Web3 construction. With feedback and experience acquired from 2022, DREP solidifies its role in the building of DeFi Credit Infrastructure and maps out the direction for further development.
In January, DREP has promoted DID structure and maintained community involvement. Additionally, DREP is making preparations for technical upgrades and better services for the new year. Here is a summary of what we managed to do this month:
Technology side, in order to better satisfy market’s demand, DREP’s upgrading work kept on. We are seeking for solutions to make NFT trading more efficiently and paving the way for smoother Web3 Gaming experience.
Ecosystem side, for this particular month, DREP chose not to hasten the ecological expansion but to better maintain the community. Meanwhile, we are making efforts to reach more potential cooperations.
Technology
DaaS (DID-as-a-Service) Boosts DREP Web3 Momentum
By virtue of Zero-Knowledge Proof technology and DREP’s innovation in credit protocols, DREP DID would enable individuals and entities to make steady strides in Web3 identification. DID offers persistent access for KYC which means easier and more efficient user onboarding process to businesses. Furthermore, by means of DID, Web3 dwellers can trustlessly interact with the external world. As DID and Web3 extends to crypto-wide adoption, an accessible open-source identity network will gradually take shape to fuel the next round of web3 prosperity.
DREP DID is expected to encompass various user information — on-chain activities, user bio, third-party credentials, etc. As users’ on-chain movements are publicly recorded and their misconduct would pay the price, people will behave accordingly with accountability in mind. Secondly, user bio wrapped in DID system contains private information such as user profile and keychains. With the support of ZK Proof technology, it’s convenient for companies and projects to perform KYC while retaining users’ confidence over information secrecy. Last but not least, by third-party accreditation, credentials such as diplomas or titles can be checked. DREP DID system is iterating to consolidate one’s sovereignty over asset, metadata, and privacy across all Web3 protocols.
Ecosystem
DREP Forges Ahead with Optimism
To make a fresh start of the new year, DREP remains committed to cultivating a cohesive and harmonious community where members could feel free to put forward their thoughts and problems. DREP has been backed by a huge community, seeing over a total of 102k active members on social media platforms and linguistic groups. We will maintain the effort to update the community with latest progress and industry trends. DREP encourages members to conduct candid discussions. And we believe DREP ecosystem would be the place for newcomers to start their journey in Web3.
DREP team will always make sure that we have invested enough energy in social listening and work as hard as we can to deliver actual benefits to our community members and all $DREP holders. Building and growing a positive community is a complex process. Only in this way will DREP’s mission and ideas receive widespread global exposure, inspiring us to work towards new milestones.
Conclusion
DREP DID moved a step further in January with renewing plans and structural upgrade. DREP Ecosystem will remain sustainable and extensible, powered by the upcoming unveiling of the NFT product and further efforts to facilitate Web3 adoption. DREP 2023 roadmap is on its way too. Stay tuned!
For more information,
Website: https://www.drep.org/
Twitter: https://twitter.com/DrepOfficial
Telegram: https://t.me/drep_foundation
Telegram Ann: https://t.me/drep_foundation_announcements
