News and Information About Spruce Systems

Spruce Systems A New Crypto Company Overview & News

Spruce Systems is a new crypto company that is building a future where users own their identity and data across all digital interactions. The company’s open-source credentialing infrastructure is standards-compliant, production-ready, and extensible into typical enterprise and government IT systems.

Spruce Systems was founded in 2020 by Wayne Chang and Gregory Rocco, who met while working at ConsenSys in Brooklyn, New York. The two founders realized that the best way to ensure a user-centric future was to build the core infrastructure that lets users control their data across the web.

Company Overview

Spruce Systems’ mission is to build a world where users own their identity and data. The company believes that the world is evolving toward one based on cryptography, networks, and digital economies that are user-controlled with decentralized identity.

Spruce Systems’ flagship product is SpruceID, an open-source credentialing infrastructure that allows users to own and control their digital identity. SpruceID is standards-compliant, production-ready, and extensible into typical enterprise and government IT systems.

SpruceID is used by a variety of organizations, including:

• The World Economic Forum
• The United States Department of Veterans Affairs
• The European Union
• The Government of Canada
• Fortune 500 companies

Spruce Systems is also working on a number of other products and services, including:

• SpruceID Connect: A SaaS product that makes it easy for developers to integrate SpruceID into their applications.
• SpruceID Enterprise: A custom-on-premises deployment of SpruceID for enterprise organizations.
• SpruceID Government: A custom-on-premises deployment of SpruceID for government organizations.

News

Spruce Systems has been in the news a lot lately, as the company has raised a significant amount of funding and has partnered with a number of high-profile organizations.

In February 2023, Spruce Systems raised $30 million in a Series A funding round led by Andreessen Horowitz. The funding will be used to accelerate the development of SpruceID and to expand the company’s team.

In March 2023, Spruce Systems partnered with the World Economic Forum to launch a new initiative to promote the adoption of decentralized identity. The initiative will bring together governments, businesses, and nonprofits to develop and implement standards for decentralized identity.

How Spruce Systems is Different from Other Crypto Companies

Spruce Systems is different from other crypto companies in a few key ways. First, Spruce Systems is focused on building infrastructure, not applications. This means that Spruce Systems is not competing with other crypto companies that are building decentralized applications (dApps).

Second, Spruce Systems is open source. This means that Spruce Systems’ software is available to anyone to use and modify. This open-source approach has helped to build a strong community around Spruce Systems and has helped to ensure that SpruceID is well-supported.

Third, Spruce Systems is focused on enterprise and government adoption. This means that Spruce Systems is not just focused on the consumer market, but is also working with large organizations to deploy SpruceID.

Why Spruce Systems is Important

Spruce Systems is important because it is building the infrastructure that is needed for a user-centric future. SpruceID gives users control over their own identity and data, which is essential for a world where everything is connected.

Spruce Systems is also important because it is helping to promote the adoption of decentralized identity. Decentralized identity is a new way of thinking about identity that is more user-centric and secure. Spruce Systems is helping to make decentralized identity a reality.

Spruce Systems is a new crypto company that is building a future where users own their identity and data across all digital interactions. The company’s open-source credentialing infrastructure is standards-compliant, production-ready, and extensible into typical enterprise and government IT systems.

Spruce Systems is different from new crypto companies in a few key ways. First, Spruce Systems is focused on building infrastructure, not applications. Second, Spruce Systems is open source. Third, Spruce Systems is focused on enterprise and government adoption.

Spruce Systems is important because it is building the infrastructure that is needed for a user-centric future. SpruceID gives users control over their own identity and data, which is essential for a world where everything is connected. Spruce Systems is also helping to promote the adoption of decentralized identity. Decentralized identity is a new way of thinking about identity that is more user-centric and secure. Spruce Systems is helping to make decentralized identity a reality.