In a podcast hosted by NEWFORUM and centered on the topic of Web3 vs Decentralized Identity, I discussed a variety of topics, including open standards for digital identity, the benefits and drawbacks of using standards for digital identity, the confluence between web3 and decentralized identity, and many more.
NEWFORUM is a podcast exploring the future of human interaction, economics, and the emerging Internet, including innovators, entrepreneurs, and investors. It helps promote research-driven conversation and hence encourages collaborative value creation.
Discussion Split Into Various Sections
How did I get started in the field of identity? I shared my journey into the identity field, focusing on how personal experiences and the potential impact of digital identity solutions on people’s lives inspired my career choice.
The importance of using open standards. The discussion highlighted the value of adopting open standards, which promote interoperability, collaboration, and innovation in the digital identity ecosystem.
Decentralized identifiers. This section explored the concept of decentralized identifiers (DIDs) and their role in providing unique, persistent, and secure identifiers that individuals control.
What is a decentralized identifier? I clearly defined a decentralized identifier, explaining its purpose and how it functions in the context of decentralized identity systems.
Differences between decentralized identity and web3. The conversation emphasized the distinctions between decentralized identity, which gives individuals control over their data, and web3, which revolves around decentralized applications and blockchain technologies.
Verifiable credentials never go on a blockchain. The podcast emphasized that verifiable credentials are not stored on a blockchain but are shared securely between parties, ensuring privacy and reducing the risk of sensitive data exposure.
Overlapping Opportunities between web3 & SSI. I discussed the areas where web3 and self-sovereign identity (SSI) technologies intersect, offering possibilities for collaboration and innovation in the digital world.
Accountability & Anonymity in virtual worlds. The final section discussed the challenges of balancing personal anonymity and accountability in virtual environments and how decentralized identity solutions could address these issues.