PANews reported on August 1st that Cointelegraph reported that Hashgraph Group (THG) launched IDTrust, a self-sovereign identity platform based on the Hedera network, incorporating artificial intelligence technology to achieve decentralized digital identity management. The platform utilizes Hedera's stateless proof mechanism, unlike blockchain solutions like Polygon that require a complete transaction history. Users do not need to hold HBAR tokens to use it.

THG CEO Stefan Deiss stated that IDTrust provides comprehensive identity authentication and authorization capabilities, focusing more on enterprise-level applications than solutions like Polygon ID and Worldcoin. Its decentralized nature provides more complete data control than Microsoft Entra. The platform is compatible with Switzerland's ongoing e-ID system and can verify official credentials such as driver's licenses.