Shegby Inc.

High-Level Overview

Shegby Inc. is a decentralized Web3 KYC platform and emerging network state that provides privacy-preserving identity verification for blockchain projects, DAOs, and DeFi protocols. It builds a citizen-powered identity network using the HumanRank algorithm, which scores trust based on on-chain behavior, social validation, stake incentives, and zk-SNARK proofs, allowing users to store encrypted data on IPFS and share it selectively via wallet approvals.[1][2][4] Shegby serves Web3 platforms needing user verification without privacy compromises, solving centralized KYC's data risks through peer-based, decentralized methods like global, local, or community verification.[2][4] The company has shown growth momentum via 40,000+ POIs accumulated early on, joining Startup Estonia and YC Startup School, securing AWS credits, and closing LOIs with 189 Scroll mainnet projects and 450 testnet ones as of May 2024, targeting $2M revenue by end-2024.[1]

Origin Story

Shegby began in 2018 as a community-owned travel planner website, gathering 40,000 points of interest (POIs).[1] It pivoted in 2019 to a private transfer service, earning the regional "Best Sharing Service" award, before transforming in 2022 into a Web3 concierge service—a P2P marketplace—and joining the Startup Estonia ecosystem with a focus on network states.[1][5] Shegby Inc. was formally incorporated as a Delaware C-Corp in Q1-Q2 2023, based initially in Los Angeles and now at 2261 Market Street #5175, San Francisco, CA.[1][2][3] Founder and CEO Dmitrii Lunin, based in Tallinn, Estonia, brings an MBA, JD in Digital Forensics, and e-commerce consulting expertise; he is the sole listed investor to date.[2] Early traction included AWS Activate ($100K credits) and MVP development aiming for 100+ LOIs to validate product-market fit.[1]

Core Differentiators

• Privacy-Preserving Web3 KYC: Uses zero-knowledge proofs (zk-SNARK) and peer-based verification (global/local/community) without storing user data, contrasting traditional centralized systems.[2][4]
• HumanRank Algorithm: Builds a trust graph via Six Degrees of Separation, on-chain behavior, social links, and incentives, enabling selective data sharing through IPFS encryption and wallet permissions.[2][4]
• Network State Vision: Evolves toward decentralized governance, cross-platform wallet, and P2P services marketplace (concierge for needs states can't meet), powered by citizen verifiers.[1][3][4][5]
• Ecosystem Integrations: Active on Scroll zkEVM (189 mainnet/450 testnet LOIs), GitHub open-source repos, Discord for verification/earning, and ties to YC Startup School/Startup Estonia.[1][3]

Role in the Broader Tech Landscape

Shegby rides the decentralized identity (DID) and Web3 KYC trend, addressing regulatory pressures for user verification in DeFi/DAOs amid rising privacy demands post-FTX and MiCA rules.[2][4] Timing aligns with zk-tech maturation (e.g., Scroll zkEVM) and network state concepts from Balaji Srinivasan, positioning Shegby to capitalize on $2M+ serviceable obtainable market via LOIs.[1] Market forces like blockchain scalability and data sovereignty favor its peer-trust model over Big Tech custodians, influencing the ecosystem by enabling trust graphs for marketplaces, reducing sybil attacks, and fostering citizen-powered governance in Web3.[1][4][5]

Quick Take & Future Outlook

Shegby is set to launch its MVP, cross-platform wallet, and full P2P marketplace post-2024, with team expansion (business dev, partnerships, zkEVM dev), accelerator applications, IP clearance, and marketing pushes toward full decentralization.[1] Trends like zk-interop growth and regulatory clarity will accelerate adoption, potentially evolving Shegby from KYC SaaS to a scalable network state rivaling early DAOs. Its influence could expand by onboarding verifiers globally, turning identity into a composable Web3 primitive—watch for co-founder hires and $2M revenue as PMF signals.[1][2] This builds on its pivot from travel roots to trust infrastructure, proving adaptability in blockchain's trustless evolution.[1]