📇Proof Of Identity
Authentication and Community Reserve
Digital Identity: Why It Matters in our new invention
Wondering how people will interact in a decentralized, transparent world? Do you imagine a future where your business will take advantage of the blockchain?
Creators of different niche, businesses of all sizes, regular user of all need to understand that Web5 is the next generation of the internet.
Web5 brings decentralized identity and data privacy to individuals' apps, returning control of data and identity to users. It lets devs focus on creating better user experiences.
Web5 holds the promise of decentralized, community-powered social networks The growing dominance of cryptocurrencies and blockchain has facilitated the rise of Web5, powered by decentralized networks. Designed to restore power to users and creators, this transformative internet movement is beckoning a paradigm shift in how we use social media. Web5 is an umbrella term that encompasses several ideas and futuristic visions of decentralization where community-powered, and self-monetized content will reign supreme. Although Web5 will disrupt many existing Web2-based business models, the creator economy is positioned as the biggest benefactor of this ongoing revolution being reinvented by Driipa as a social media paradigm. For instance, in the existing version of the internet, content creators are often subject to the whims and fancies of the platforms they use to share their content. This leads to several problems like unwarranted content censorship, content demonetization, and even deplatforming. At present, many Web2 platforms retain full control over the content, severely limiting the creators. Think about it like Facebook owning the pictures you upload to the platform. You might’ve taken the photos, but now Facebook owns them. At the same time, users (consumers) are monetized for their data, deriving even more limited value even though they are the driving force behind these platforms and the primary reason content creators exist. Web5 solves this dilemma, giving back content creators full control over their content. Harnessing the power of blockchain and cryptocurrencies, Web5 allows creators to tap into numerous monetization opportunities while simultaneously rewarding users for their continued participation and patronage. This creates a circular economy, free from the restraints of centralized platforms and intermediaries.
One of the exciting things about Web5 is that it will leverage blockchain, decentralization, and digital identity to improve the relationship between all social classes. To understand how the relationship will improve, you need to understand how all four relevant pieces of the tech stack fit together. Think of it as a layer cake.
Internet of identities is an internet layer developed to give people, companies and AI systems unique internet identities with universal validity. It relationships digital assets with people's reality to eliminate the complexity of authentication over the Internet and the clutter of digital assets. Authentication and digital asset checking are the biggest problems of web versions. IoID supports internet identities in all versions so that web versions can be built properly and securely. In an age where interaction is so fast and easy, as an IoID, we work for a world where country borders do not divide us. The biggest reason why identities have universal validity is to ensure that there are no borders and to easily identify ourselves with this identity anywhere in the universe. With the spread of internet identities, we are working to make it an alternative that can be used instead of normal identities. In addition, we are laying the foundations of the universal unity that we dream of in this space age we live in, with the internet of identities.
An upgrade to be realistic by Driipa Foundation
In Web2, a person’s identity varies. One identity is used to sign into Google, another is used to sign into Facebook, and so on. Even if each of these identities uses the same email address, they all require separate accounts using separate login credentials. You as a user give each network access to your data in exchange for the convenience of using its platform. That platform then sells your data and owns your audience, in a sense. Web5 flips that scenario on its head by allowing you to use a single identity that’s tied to your digital wallet.
Rather than setting up a separate account on every platform, Web5 allows people to connect their unique wallet to an application or platform. And with that connection, a person can decide exactly what data to share. No more subjecting yourself to hundreds of emails clogging your inbox simply because you made a purchase. You can decide whether to give a business access to your email address when you connect your wallet to their platform.
Use Cases for Digital Identity
• Social Networks and Influence
A key pain point of Web2 is that as you move from application to application, your identity doesn’t follow you. For example, in Web2, a person can sign into Twitter with several thousand followers and they hold influence on the platform thanks to those followers. Because the identity of that person stays with the application, when they create an account over on Discord or some other platform, they essentially create an entirely new identity with zero following on that application. The influence they hold as a brand stays with each individual network. In Web5, this all changes because the influence you have on one platform goes with you when you sign up for another platform.
• eCommerce and Privacy
Have you ever seen a t-shirt you wanted to buy from an online store but you held off because you didn’t want the multitudes of marketing emails you’d get for a year following your purchase? In Web5, that store will have a permissions checklist and you can decide which of your personal details to share with that store.
• Healthcare Decisions and Records Today, about 60% of misdiagnoses happen because the doctor didn’t have access to the data they needed. Web5 will also make the sharing of medical data during special circumstances such as moving to a new state, an emergency when the patient can’t discuss their medical history, or when a patient doesn’t know they need to divulge certain details because they misunderstand the relevance. Also, it won’t be necessary to request records to be sent to another healthcare facility, just to have those records get lost in transit. By having control over their own data, people can reduce the chances of that data being lost or incorrect due to human error.
• Education
Your digital identity can go beyond just who you are and what you’re buying. Some universities are already testing the concept of including their diplomas, degrees, and certifications as NFTs, which would attach them to your digital identity. No more having to contact university personnel to find and send a copy of your transcripts whenever another organization asks for them. You can simply connect your wallet and grant that organization access to your university credentials. Because these tokens sit on the blockchain, users and businesses alike can feel safe about their accuracy and security as validated, trusted data. Digital tokens can also be used to validate a person’s attendance at a particular event. This opens up the possibility for businesses to offer new perks to people who attended events without the time-consuming task of going through records to verify attendance.
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