Conversations about the Metaverse (and Web3), which don’t feature hyperventilation predictions, tend to end in the same way. “…but what about digital identities?”
Ultimately, the practicality of digital identity will outweigh 5G. People expect performance issues online, but if a biometric identity is stolen and used, it will have a serious impact on monetization.
Below are windows into some tl;dr perspectives, but tomorrow’s Web3 funders, entrepreneurs, and developers should definitely take the time to read them.
a piece Posted Ostensibly working on decentralized finance or DeFi, but full of insight into the larger world of digital identities. It is written by Jelena Hoffart, an investor at private investment firm 9Yards Capital.
One of her points is identity rule compliance. Hoffart believes a logic loop is holding decentralized finance hostage. Agencies need compliance. “
Traditional financial companies need to verify their identities, and for good reason. But for some good reason, cryptocurrencies exist primarily to evade any kind of scrutiny. Cryptocurrencies cannot buy current global financial giants if the universe does not show compliance. Without them, the growth of the cryptocurrency universe will be limited.
An identity verification layer can be created and should be created quickly. Hoffart points out that the European Union rolled out restrictions on the movement of funds in his June. This requires his ID verification.
Opinions on the Digital Identity Spiral in Articles It was published Featured in trade magazine Tech Monitor.
One of those voices is the Metaverse Platform. Mona CEO Justin Melillo. In his vision, no one but you has control over your data. And he thinks the landscape could already be slanted like this.
Melillo is Digital ID standard It comes out of a World Wide Web consortium that fully protects decentralized identities.
One of the most interesting product debuts in this space is from JP Morgan. onyxThe product, called .
Onyx will reportedly be one place to store, manage and share all your digital assets. It is the exclusion from the world that Melillo desires.
There are many potential minefields for doing this, some being research paperThis report is a warning about the pitfalls and costs of exposing social media biometric patterns.
People have to spread the identifiers they hold dear. At some point it was a signature. In the metaverse (and other social media) where you express yourself accurately, your physical treasures are ear patterns, tattoos, irises, palms, fingerprints, voices, and faces.
The content that holds that information should not be of the same quality as a high-definition movie on the big screen.
Given these tips, you could argue that it’s time to apply a paper bag to your body, but instead, Trend Micro prioritizes the use of biometric patterns that are less exposed, and more when possible. We use factor authentication.”