DID – Your Passport to the Web3.0 World
Singapore, 21st Jun 2022, King NewsWire, The passport first made its appearance in the reign of Henry V in the form of a ‘safe conduct’.
The passport was not initially aimed at controlling immigration, but migration by restricting people move away from the cities. As John Torpey quotes from his book he invention of the passport>: “passport … is the monopoly of the legitimate means of movement.”
Portuguese passport from the 1920s, descriptions of appearance required when a photo is missing
The same monopoly has continued to the present day. The big tech companies like Facebook and Google have to build gated communities because their business model is built on monopoly. You can’t blame them, the TCP/IP protocol has set the ending since the massive amount of data requires a centralized institution to store and govern. We have an option now.
Passport of Web 3.0
While as we inevitably march toward the web3.0 society, the passport is no longer your restriction of movement since identifiers such as driver’s licenses will no longer rely on a centralized institution or identity providers. Rather, the passport of web3.0 is your trust conduct in an autonomous society. DIDs connect multi-chain data like coin*days, transfer history, and other on-chain activities. Together with verifiable credentials (VCs), people can create their identity at a more granular level, even linking real-world credentials like college degrees and certifications, social media accounts, and government-issued documents such as a driver’s license or passport under one secure ID. The basis of building trust among people with different backgrounds is undoubtedly clarification of one’s identity.
With the DID, You can decide if you want to take over the commercialization rights of your own data. In return, you will have to pay for production and even storage of the data. The reason why you are willing to cover the cost is that the incentive paid by advertisers (or other parties) will exceed it. The data can be your social graph, your chat history and your post with an NFT art attached to it. You will be waking up one day and receive $1000 USD because you share something that went viral and led to serval sales. The money was paid to Mark Zuckerberg before.
ULAS Web3.0 Citizen Card Example
Now you have convinced that DID card is legit, how do you choose one? Just like choosing what citizenship you would hold.
What features do a legitimate web3.0 passport needs to include?
- Multi-chain data aggregation;
- Minting your DID as an NFT;
- Well-developed social tools available like media and gaming;
Add on features:
- Off-chain data aggregation:
For example, migration tool your web2.0 social media relationship
- NFT marketplace to build your social graph based on economic activities.
- Visualized social graph for users.
How to claim it?
There are serval Decentralized ID solutions across the blockchain. To claim your first DID, you can visit:
Now you have your DID – passport of web3.0, how do you use it? The answer is, yet uncertain. But the uncertainty is what the beauty of web3.0 is. You can always explore, even build your own applications. Below are the solutions where social applications have earn their spot within the user journey of web3.0 social. Enjoy exploring!
Web3.0 social landscape 2022
ULAS provides a space for creators and users to chat, share, and trade. The new social network aims to solve creators’ unequal distribution of earnings and users’ data privacy issues in the web2.0 social platform, with the following features：
- DID (Decentralized ID) system that connects data from multi-chain;
- ULAS NFT Marketplace: where you can not only buy and sell NFTs, but also share and earn commissions for your favourite art pieces.
- Hola: Migration tool that helps users migrate their social connection from Twitter to ULAS.
To experience the product, visit ulas.network.
In the future, ULAS is devoured to provide more tangible social tools for citizens, including:
- Tribe, an online chatting room that citizens can only access with a certain NFT. The chat history is encrypted end-to-end. The tribe is created in the form of DAO.
- Social Mining, citizens can mine $ULAS by making impacts on the social graph, through a new consensus engine – proof of trust.
- Personal Data Store, personal data trading store. Citizens of ULAS can build a store of their own personal data.
For further information, you can visit ULAS.network
If you want to join our community: https://discord.gg/yavxEUXpva
For business inquiries, send an email to email@example.com
Organization: ULAS NETWORK
Contact Person: Media Relations
Email: Send Email
The post DID – Your Passport to the Web3.0 World appeared first on King Newswire.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Finance Shogun journalist was involved in the writing and production of this article.