NFT Steez and Lukso co-founder study the implications of digital self-sovereignty in Web3


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Sovereign id has been a sizzling subject in blockchain and cryptocurrency, particularly with the rise of the creator financial system. At the moment, there are two kinds of digital identities. One is federated and centralized whereby knowledge is within the management of the service supplier. Self-sovereign digital id is commonly cited as a human proper that may reclaim company utilizing blockchain know-how, however what frameworks exist that support in governing it?

On this episode of NFT Steez met Marjorie Hernandez, the co-founder of LUKSO and The Dematerialized to debate the state of blockchain-based identities and “Universal Profiles.” According to Hernandez, in the future, “everything will have a digital identity.”

Onboarding into the digital realm should be frictionless for sovereign “Universal Profiles”

During the interview, Hernandez explained the paradigm shift between centralized platforms to a more “platform-less future” and stressed that users need to be in control of their identities and creation on more “agnostic platforms,” where they can own their intellectual property via “Universal Profiles.” 

Lukso’s integration of Universal Profiles enables users and creators to reclaim their identities and issue their IP in a symbiotic manner between creator and user. According to Hernandez, the Universal Profile can be seen as a personal operating system (OS) whereby one can authenticate themselves, but also send, receive and create assets.

As Hernandez puts it, Universal Profiles are: 

“A Swiss Army type tool that is serving so many purposes for the user.”

Related: Web3 is crucial for data sovereignty in the metaverse

Blockchain-based identities in Web3

Understably, the emphasis of id inside Web3 started to spark up once more when 2D profile pic (PFP) NFTs started to emerge. This surge was framed as a method to signify and id oneself in addition to a flex, or expression of ego. For some, their bodily and social identities had been traded for his or her newly adopted digital avatars. 

Nevertheless, Hernandez argues that whereas some understand digital as masking one’s true self, she believes that in a “decentralized digital atmosphere,” folks will likely be emboldened “to maneuver past these predispositions” and specific one’s “true actual self.”

The idea of Hernandez’ thesis is that blockchain-based id is just not solely verifiable however provides customers 100% management of their knowledge, id and IP.

When requested by a listener what communities ought to be doing to make sure the requirements surrounding self-sovereignty and that customers are not “customers” however lively co-participants within the ecosystem, Hernandez merely denoted:

“I believe it is simply being co-creator, proper? And also you begin constructing with it.”

To listen to extra on this dialogue, be certain certain to hearken to the complete episode of NFT Steez on the brand new Cointelegraph Podcasts page or on Spotify, Apple Podcasts, Google Podcasts or TuneIn.