Launched in 2018, Concordium is a public, permissionless Layer 1 blockchain that incorporates encrypted ID into every on-chain transaction, allowing for identification at the protocol level. It is designed to balance privacy with accountability through its ID layer. From the beginning, the project team, which includes leaders from Volvo, IKEA, Credit Suisse, and more, aimed to make it easy for current and future businesses to integrate blockchain technology, with a focus on regulatory compliance. Although providing real-world identity may deter some crypto enthusiasts, the company claims to maintain full user privacy through the use of zero-knowledge proofs. To date, Concordium has raised 52 million EUR and partnered with Geely, a global automaker and co-owner of Volvo Cars, Volvo AB, and Daimler. Concordium has a native cryptocurrency called CCD, which is used for paying transaction fees, staking, rewarding node operators, and serving as collateral/settlement within Concordium’s DeFi ecosystem.