What You Need to Know About Web3 Identity and Reputation

By @justwavyj

Source: Twitter

Digital identity is a key problem to be solved in the field of encryption.

This article summarizes what you need to know about Web3 identity and reputation based on a conversation with @skominers , a Harvard MBA professor and @a16z crypto team member, on the topic.

On-chain digital identities are here

During the last bull cycle, people first started getting exposure to crypto apps.

These actions form the basis of decentralized identity.

1. Collect NFT

2. Participate in DAO

3. Attach data to the NFT field

Web2 offers a false premise of ownership

Web2 campaigns consist of posting photos and updates.

The interactions of these identities exist only within the framework of the platform they are on.

1. They are isolated

2. No control

3. The data you create does not belong to you

Owning your own identity is a paradigm shift

Ownership means your identity is:

1. Portable

2. Ongoing

3. Linked to reputation

portable identity

When you own your digital identity, you can take it to any new platform of value.

This increases competition between platforms (users need to have the will to use it) instead of locking users in through network effects and algorithms.

persistent identity

Web3 identity is not ephemeral - it will be around as long as the blockchain exists.

This will encourage you to think long-term about your online reputation and how thoughtfully you engage/create digital content.

Quote from @skominers

reputation-based identity

With an authentic source of our online selves we can link our identities and reputations, the possibilities are endless.

1. Like

2. Reputation

3. Comments

4. Fans

5. Diploma

6. Comments

7. Authentication

web3 reputation can capture digital exhaust

For example: You made a PPT, and your CEO opened it 20 times.

These data don't exist anywhere. It is not tracked or linked to you.

Digital Echo: When NFT assets interact with them, they can propagate data back to the identity.

Processed Digital Exhaust

Algorithmic aggregators will understand your on-chain transactions to create your digital resume.

This data is verifiable, accessible, and portable to any platform with web3 identity interoperability.

data management is important

In a world where things are immutable, you have to be careful what you store.

The @unstoppableweb badge is an MVP of personal and technical management. Users decide what content on their profile is public.

web3 identity allows you to bring your whole self online

Search and discovery will improve as we curate a more complete version of ourselves online.

People will be able to find:

1. True fans

2. Live and Online Events

3. Friends with similar interests

web3 identity brings a human touch to blockchain

When you interact on-chain, you are just an address. Addresses provide very low-dimensional data.

Innovations like NFT domain names allow us to carry our identity + reputation on the internet.