Self sovereign digital identity.

in LeoFinance2 months ago

What is the reason for Identity verification?

A lot of identity verification is down to legislation. For anybody running a business online, they are subject to local laws and regulations.

At the moment it is still possible to operate anonymously online but there are a lot of groups lobbying to change how we use the internet and want to regulate our every thought and movement. More transparent and more restricted.

It will come to the stage soon where to use any of the major online sites that you will need to identify yourself fully in one form or another.

Here on hive know that it will be possible to operate on #web3 and avoid all of this but for a lot of people they will believe that it is the only way unless educated otherwise.

Imagine having to link your personal info to your twitter account, to your citizens Id to everything under one government based system that can be accessed by different groups as they need to verify what you have been up to?

I know that I don’t want the government seeing my search history. Do you?

All jokes aside but I wouldn’t like them to audit my online activity and tax my @Splinterlands account. My earnings. Track what I bought on Amazon and how I paid for it.

While there are some brilliant uses for an online passport, I would only see it for official use like booking flights or applying for jobs. I certainly don’t want it tied to my tweet of something funny ten years earlier that lands me in court because it’s not acceptable anymore.

Electoral voting good. – Employers seeing my Internet history very bad.

Self-Sovereign Digital Identity – Decentralised identifiers (DID)

“A Decentralized Identifier (DID) is a new type of identifier that is globally unique, resolvable with high availability, and cryptographically verifiable. DIDs are typically associated with cryptographic material, such as public keys, and service endpoints, for establishing secure communication channels. DIDs are useful for any application that benefits from self-administered, cryptographically verifiable identifiers such as personal identifiers, organizational identifiers, and identifiers for Internet of Things scenarios.”


Use for blockchain enabled digital identity.


Digital identities are a very interesting concept as they have so much application in the real world and online. They are an inevitability going forward into a digital age so the real question is how they are integrated into our everyday lives.

We will no doubt have a digital passport at some stage with all of our relevant information and life details stored onto the government system. Accessible by any party with the relevant permissions to see our education, career, criminal records, monetary profile ect…

It will be very handy for the operations we do now involving paperwork or any governed body. There are so many different sectors in the government which are all intertwined but don’t interact with each other’s systems. Blockchain will fix this and once your details are on a secure government private blockchain, they will be accessible when you want to pay tax, apply for a job, claim a benefit or try to interact with anybody who needs your info. All you will need to do is give them the right permissions and verify that it is your identity. All of the addition details will be stored to your digital identity.

This brings up a larger problem however as the more information that is tied to your digital identity, the more restricted that your life becomes. If all of your data is available to be accessed then it becomes very easy to lose control of your actions. You operate according to a set of rules created by society which in itself sets a dangerous precedent. If the people setting the rules don’t have the best of intentions then you will be operating on bad data and your options restricted based on what people see attached to your digital identity.

My online identity is tied to the hive blockchain and gives me access to hundreds of apps built onto the eco-system. It gives me access to finance, social applications, investment opportunities, gaming, social media and a built in reputation system.

Everything that you do is on the eco-system and visible to everybody else unless specifically encrypted. While it is not linked to my national identity there is a very interesting study here as your online reputation linked across all of the applications and this carries weight. In an immutable, decentralized, censorship resistant system your reputation and voting power are the things that matter the most. Since your one identity carries across all applications built onto the eco-system it becomes a very important identity to build up.

It will be there as long as the blockchain lasts. It can’t be deleted or censored. If one hive platform blocks you it will still show up on all of the other platforms. You will hold onto your name, your followers, your holdings, your nft’s and everything else tied to that identity.

It can be anonymous but your anonymous identity can still be a very valid identifier and point of reference. Just look at Banksy or Satoshi Nakamoto. Name and reputation still count regardless of who those things are really tied to.

There is a huge gap in the market for immutable, easy to use web3 accounts like hive has to offer and it is a niche that will be filled very soon as government pile on restrictions and web2 based sites fall in line and keep wiping out identities that took years to build up but can be deleted in seconds.

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It's scary how willing a lot are to give their data and privacy away to social media sites and other platforms that need your permission to create an account. It's that "I have nothing to hide" argument again...

With web3, it's a totally different paradigm and probably a gulf or chasm that's too big to be bridged at this moment in time but with Leo's Project Blank looking to make onboarding and setting up accounts even easier than before, we're looking at some incredible prospects and having a familiar experience compared to what is out there in Web 2.

Peakd also looking slick now with its side bars and additional improvements rolled out today. I'm loving it mate!

Also, you've been on a monster power up streak! Holy shit, nice one! You in a rush to get to 100k or something? Haha

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People don't have anything to hide until they do. Look at how many innocent tweets are reappearing 8 years later and costing people massively in their real life. Out of nothing at the time.

Everybody here in this space can see the change that is coming. It's inevitable and the only real question is if hive can capture a part of that market or not. Because somebody definitely will.

That is why I'm powering up like a boss. 100k for xmas. I'm not even doing much lately, focused on my #leo for now but i have been posting better content more frequently and it builds up fairly fast. I don't like buying at this price as i was used to getting it at 12c. 😂 It feels wring even though it's still massively cheap for the price.

Lol, yeah that's true. The internet doesn't forget and can so easily take things out of context in this day and age!

Hopefully hive can capture some of it - you look at what LEO are doing and I really think it will be a matter of time before other tribes on H-E will look to emulate what they're doing, tapping in to all kinds of different markets and it will just take one influencer or group of investors and could be fireworks!

I've been focusing on LEO too in prep for these airdrops but there's other interesting projects happening as well. Hoping to make the most of it and build up stake in a few tokens I'm interested in - the price of HIVE is getting expensive mate! May have to just get to 100k organically from here on out haha!

Posted Using LeoFinance Beta

The idea of having a digital identity only accessible via one's permission appeals to me. It mitigates the potential of unauthorized or anonymous entities having access to your data. If implemented more people can have more control over their data and even monetize it since it is of value to big cooperate institutions.

Posted Using LeoFinance Beta

With everything moving online, these will come into play a lot more. I can definitely see a digital passport with lots of information tied to it. Maybe 2FA to let them access certain parts like with keychain.
Your legal history, medical records, bank accounts but those are professional services which i would like to keep well away form my social activities. That is when you need a system operating outside of government control so that they cant use it against you.

You post an anti-government blog and they lock your travel rights or your bank accounts. It could happen all too easily in some countries.