Decentralized identity (DID) and compliance services will become a “key infrastructure” to the success of decentralized finance (DeFi) and the transition of real world financial assets onto the blockchain according to Fabrice Cheng, CEO and co-founder of Quadrata.

Speaking with Cointelegraph, Cheng said the key driver behind the demand for DID will come from Web3 protocols, which will utilize the DID of users to build better products that are “catered” to existing customers and also “targets new sets of customers.”