The internet failed to deliver on its promise. It was originally envisioned to be an open and democratic space where everyone could benefit from new opportunities.
Instead, the current internet – Web2 – is dominated by a few Tech Giants with a dangerous amount of control over your data and life. While these companies started as innovators, they quickly recognized the value of your identity and focused their products on earning massive profits at the expense of your data.
But now, the next iteration of the internet – Web3 – offers a chance to create a new era of control where you can access new opportunities. It’s based on blockchain, decentralized, and peer-to-peer and aims to give internet power back to you rather than companies.
We believe the foundation and starting point for all Web3 users is to own, control, and manage their digital identities, their Web3 ID.
Your presence and interactions with companies online create a comprehensive digital identity, and not necessarily one that you have in your control. Currently, your personal data and digital footprint have been recorded and stored with little to no input from you as to how they will be used today or in the future. Instead, your data is largely controlled by the companies with which you interact: social media platforms, search engines, credit rating agencies, shopping websites, and payment tools. While many of these applications are “free”, they’ve captured every aspect of the information and content you provide and generate, and they often exploit and monetize your identity in return.
We believe that you no longer need to accept it as the status quo. A Web3 ID puts you in control.
Once you have an identity that you solely own, all digital asset associations can be tied to your identity. Digital assets encompass everything from cryptocurrencies to NFTs (non-fungible tokens) to physical items represented as tokens on the blockchain. With a Web3 ID, you’re able to seamlessly transact and interact with others using your integrated digital wallet in a similar way you utilize your real-life wallet today.
Web3’s success is far from guaranteed, and Web2 titans are betting that most people don’t care if they continue to control and profit from their users’ identities. We, and those who share our purpose, must create safe, user-friendly identity tools and the other necessary infrastructure applications to navigate Web3 so that this movement can reach its promise. Our Web3 ID SDK aims to do just that.