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  • FireSight

Decentralized identity may be critical for the success of Web3

Every time we unlock our phones or open our laptops, we are prompted to enter passwords, codes and captchas to access our data held in servers far away. Within our increasingly interconnected world, everything relies on our identity. For this reason, we are always asked to verify who we really are — both in the physical world and on the web. Traditionally, we do this by typing in passwords online or flashing our passports and licenses to government officials. We surrender our personal information in exchange for services and permission to do certain activities, online and offline.

Web2 has forced us to accept that the cost of using so-called “free” services such as Google and Facebook comes at the expense of exposing our identity. Once we agree to the privacy policies of websites, our data gets stored in centralized centers owned by a handful of institutions...

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