The Importance of Digital Identities in Web 3.0

What are digital identities?

Digital identities usually fall under two specific categories:

Why are digital identities important in the Web 3.0 space?

Digital identities are paramount to the success of Web 3.0, because of how they allow people to represent themselves in their unique way. Thanks to the numerous Web 3.0 services available on decentralized apps (dApps), it is necessary to have a digital identity to securely browse these dApps and accomplish a list of objectives, including interacting with other users in decentralized social media apps.

  • A common idea associated with Web 3.0 is being paid in tokens to browse the web, view ads, or test beta features. As smart contracts mainly power Web 3.0, a digital identity may be necessary to determine what type of ads should be served to users with specific interests. For example, an avid gamer is more likely to interact positively with a Blockchain gaming ad and not as well with an ad promoting a world tour package.
  • dApps storing private credentials such as login details, credit scores, and IP addresses will need to create secure digital identities to ensure a person cannot fraudulently take another person’s identity and create trouble.

Decentralized digital identities

The difference between Web 2.0 digital identities and their decentralized counterparts is that when a digital identity is decentralized, third-party websites can no longer control your digital appearance.

Does a decentralized digital identity truly exist?

There are already numerous startups looking to build a decentralized ecosystem on Web 3.0. Point Network aims to create a fully decentralized internet or in other words, ‘Web 3.0’. The Point Browser enables users to create their own unique digital identity that is completely out of the hands of a third-party organization.

Conclusion

A World Bank study revealed that 1 billion people do not have any proof of identity. But thanks to digital identities, these people can still be a part of society and enjoy their time online. When it comes to keeping a user’s data secure, decentralized digital identities like Point Network’s may present the solution.

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