Fraser Edward, CEO of Cheqd, believes that blockchain-based reusable KYC will be a game-changer for security in Web3. By using this technology, users can undergo the KYC process once and obtain re-usable credentials that can be used with different service providers. This will significantly expedite onboarding processes and enhance user satisfaction. Cheqd's Trusted Data Market is also focused on providing trustworthy data that can support risk reduction in lending for DeFi. The startup has been nominated for Startup of the Year by HackerNoon and its CHEQ token is currently trading at $0.054.