NFT Steez and Lukso co-founder look at the implications of digital self-sovereignty in Web3


Sovereign id has been a scorching matter in blockchain and cryptocurrency, particularly with the rise of the creator economic system. Presently, there are two sorts of digital identities. One is federated and centralized whereby information is within the management of the service supplier. Self-sovereign digital id is commonly cited as a human proper that may reclaim company utilizing blockchain know-how, however what frameworks exist that support in governing it?

On this episode of NFT Steez met Marjorie Hernandez, the co-founder of LUKSO and The Dematerialized to debate the state of blockchain-based identities and “Common Profiles.” Based on Hernandez, sooner or later, “the whole lot could have a digital id.”

Onboarding into the digital realm needs to be frictionless for sovereign “Common Profiles”

In the course of the interview, Hernandez defined the paradigm shift between centralized platforms to a extra “platform-less future” and confused that customers should be answerable for their identities and creation on extra “agnostic platforms,” the place they’ll personal their mental property by way of “Common Profiles.” 

Lukso’s integration of Common Profiles permits customers and creators to reclaim their identities and subject their IP in a symbiotic method between creator and person. Based on Hernandez, the Common Profile might be seen as a private working system (OS) whereby one can authenticate themselves, but in addition ship, obtain and create belongings.

As Hernandez places it, Common Profiles are: 

“A Swiss Military sort software that’s serving so many functions for the person.”

Associated: Web3 is essential for information sovereignty within the metaverse

Blockchain-based identities in Web3

Understably, the emphasis of id inside Web3 started to spark up once more when 2D profile pic (PFP) NFTs started to emerge. This surge was framed as a method to characterize and id oneself in addition to a flex, or expression of ego. For some, their bodily and social identities had been traded for his or her newly adopted digital avatars. 

Nonetheless, Hernandez argues that whereas some understand digital as masking one’s true self, she believes that in a “decentralized digital atmosphere,” folks will likely be emboldened “to maneuver past these predispositions” and categorical one’s “true actual self.”

The premise of Hernandez’ thesis is that blockchain-based id is just not solely verifiable however offers customers 100% management of their information, id and IP.

When requested by a listener what communities needs to be doing to make sure the requirements surrounding self-sovereignty and that customers are now not “customers” however energetic co-participants within the ecosystem, Hernandez merely denoted:

“I feel it is simply being co-creator, proper? And also you begin constructing with it.”

To listen to extra on this dialogue, make certain certain to hearken to the total episode of NFT Steez on the brand new Cointelegraph Podcasts web page or on Spotify, Apple Podcasts, Google Podcasts or TuneIn.


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