Sovereign identity has been a topic of discussion in blockchain and cryptocurrency by experts, especially with the reported rise in the creator’s economy. With the presence of two kinds of digital identities such as federated and centralised, self-sovereign digital identity is considered as a human right that can reclaim agency through blockchain. In August, non-fungible token (NFT) steez, a bi-weekly Twitter space hosted by Alyssa Exposito and Ray Salmond, met Marjorie Hernandez, co-founder, LUKSO, and The Dematerialized, to speak on blockchain-based identities, as reported by Cointelegraph.
According to Cointelegraph, during the interview, Hernandez emphasised on the paradigm shift between centralised platforms to a platform exclusive sector and stressed on the users need to have control over their identities, for users to have control over their intellectual property through Universal Profiles. Lukso’s integration of Universal Profiles can help users reclaim their identities and issue their IP in a manner between creator and user. As per Hernandez, the Universal Profile can be used as a personal operating system (OS) to authenticate themselves but also send, receive and create assets.
On the basis of information by Cointelegraph, the importance of identity within Web3.0 started with two-dimensional (2D) profile picture (PFP) NFTs started to emerge. However, Hernandez made the argument that through a digital environment, one will be able to express one’s true self. The basis of Hernandez’s thesis is that blockchain-oriented identity is not only verifiable but gives users 100% control of their data, identity and IP.
Moreover, Cointelegraph noted that Hernandez spoke on being a co-creator to start building an ecosystem, when asked by a listener what communities should be following to ensure standards around self-sovereignity and that users aren’t considered consumers.
(With insights from Cointelegraph)