There are frequent large-scale privacy breaches such as Facebook, can DID provide new solutions?

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As an indispensable core component in the Web3.0 era, DID is to some extent equivalent to the key “infrastructure” of the blockchain industry.

Original title: “Under the Facebook privacy breach, DID may deserve our attention”
Author: Hebao

On the evening of October 4, Facebook, Instagram, and WhatsApp experienced a massive downtime. It is rumored that the data of more than 1.5 billion Facebook users is being sold on a popular hacker-related forum. The data includes the user’s name, email, phone number, location, Gender and user ID.

In fact, this is not the first time that such a serious exposure of user privacy information has been reported by Facebook. In April this year, Facebook’s server was attacked, resulting in the exposure of 533 million user personal data within 3 days, of which 106 were involved. In countries and regions, the leaked information includes the user’s Facebook account name, location, birthday, and email address, which is extremely detailed.

In this context, the decentralized account system (DID), which is different from the traditional account model, may be able to bring us some new thinking and imagination.

What is DID?

In the traditional Internet world, we are already familiar with Internet identities that exist in the form of accounts such as mobile phones, Weibo, and WeChat. These identities divided into different ecological segments are managed and saved by corresponding centralized Internet service providers . Therefore, the corresponding hidden dangers of centralization cannot be avoided.

In addition to these service nodes having the right to close our account and cause us to lose the identity of multiple sites at the same time, what is more serious is the problem of collective privacy leakage-the centralized architecture is destined to almost unavoidable privacy leakage once it occurs. Big event.

And DID (Decentralized Identifier), that is, a decentralized identity system, uses blockchain and other technologies to make digital identities truly owned and controlled by users , just like we put paper documents such as ID cards, passports, and household registrations. Keep it carefully in your own home, and only take it out when needed. There is no longer any intermediary who completely owns the user’s identity and data, which can better avoid the above dilemma.

Specifically, in the DID framework, individuals can have a digital identity that contains all this information and is managed separately, instead of having multiple centralized providers manage multiple digital identities, and at the same time, there is no need to trust a third party to keep it. Without the explicit consent of the owner, no individual or organization may use these identities for any purpose.

I understand that it is to truly return personal privacy and data rights to everyone for free control , and no longer hold the privacy and data that should belong to users like the current Internet giants, and finance, go public, and conduct business by themselves. Activities, and users as contributors do not enjoy the rewards they deserve.

There are frequent large-scale privacy breaches such as Facebook, can DID provide new solutions?

Therefore, in the Web 3.0 era, with the help of DID users will have more control over personal identity and data. Although blockchain is not a necessary option for DID technology, blockchain technology can help DID and avoid many disputes. And can maintain the credibility of the data at a lower cost.

Specifically, the blockchain-based DID solution has three advantages :

Personal data ownership

Based on the blockchain, the identity data is prevented from being controlled by a single centralized authority. The identity of each user is controlled by its owner. Individuals can manage their own identities independently and do not need to rely on the application side that provides the identity.

Full privacy

Users no longer need to register accounts with phone numbers, ID cards and other information. The use of decentralized identities means that users’ privacy will no longer be stolen by centralized platforms and use these data to do evil, causing things like what we often encounter Harassment such as the customer service of the trading platform.

Convenience

Users can access and participate in blockchain projects with only one decentralized identity, which lowers the threshold for users to enter the blockchain world and also brings users a better experience. Just as we currently use MetaMask wallet to log in and enjoy almost all DApp application services such as DeFi and NFT, while in the traditional Internet ecosystem, we have separate accounts such as WeChat accounts and NetEase accounts. This is also The inevitable development trend of the Web3 era.

What blockchain scenarios can DID empower

In short, DID itself is committed to integrating the existing and as much identity information of each user as possible to create a digital identity that is not limited to any fragmented platform. Such a digital identity will eventually surpass Web2.0. Cloud identity, cross-platform identity, to achieve a comprehensive individual identity recognition system.

The aggregation of DID information can not only bring the above-mentioned advantages, but also make users’ digital identities richer and more three-dimensional. It can even derive a one-stop solution to obtain DID data from different blockchain networks, and aggregate users in different Identity data generated in the blockchain .

Most directly, for our current blockchain users, the assets, transaction records, and behavioral data on the personal chain are also equivalent to a “sleeping gold mine”, and there is no mature credit system for the hidden value. To mine it and quantify it, so that everyone’s credit accumulated on the blockchain and digital assets is basically wasted.

However, in the current blockchain world, DID seems to be facing a dilemma of “segmentation” similar to the real world: Although from the perspective of capital volume and user data, Ethereum is a well-deserved leader, but Polkadot and Solana Other blockchains such as, Terra, etc. are not directly negligible, and the data retained between different chains are like islands.

Therefore, it is undoubtedly unfair to only focus on Ethereum during the process of DID construction: for example, in addition to some funds on public chains such as ETH and BSC, some may be “farmed” on Solana and Terra chains. .

In this case, it is undoubtedly biased to judge an individual’s on-chain credit only based on the asset status and behavior data on ETH. Especially under the background that the development volume of each company is constantly expanding, combining information from different angles on different blockchains can often obtain more comprehensive and valuable information.

Therefore, DApps such as DID-based DeFi and NFT can provide different users with different levels of services. For example, entities with a good debt repayment history can obtain loans from borrowing platforms with less collateral, or new DeFi projects may prevent robots from using their airdrops for human users and other new use cases full of imagination.

For example, referring to the many evaluation dimensions of the Sesame Credit Score System, you can enjoy credit rights based on the most direct consideration factors such as asset status and behavioral data on the chain-in DeFi mortgage lending, the use of personal chain credit to obtain mortgage rate discounts, etc., this In this situation, DID is the basic support for many DeFi products and services.

And the unsecured credit lending in the DeFi world is just a typical small example. With the blessing of DID, the value of data on the ordinary user chain is no longer sleeping, and you can experience more DeFi products and services based on identity and credit as leverage.

DID’s “New Infrastructure” attribute

Credit has always been a big business. In the modern financial system, the most important core driver is the element of credit. In essence, modern finance is also a variety of derivative games built on credit.

There are frequent large-scale privacy breaches such as Facebook, can DID provide new solutions?

Under the background that the volume of DeFi has exceeded 110 billion U.S. dollars, the next wave of outbreaks is destined to be based on DID. Therefore, if identity credit is realized in the blockchain network, a large number of financial products can be spawned. From this perspective, DID actually plays a key “new infrastructure” role in it.

At the same time, traditional Internet giants have not stopped their own layout. Since the birth of DID, the World Wide Web Consortium (W3C) has begun to formulate DID specifications. Currently, Microsoft, IBM, etc. have submitted their own DID protocol methods, and successively Launch your own solution.

Microsoft

In February 2018, Microsoft announced that DID would be the entry point of the company’s blockchain strategy, and published the “Decentralized Identity” white paper in October of the same year.

Subsequently, in May 2019, Microsoft released an early preview version of the decentralized identity (DID) network of ION (Identity Overlay Network). People in the industry believe that if Microsoft defaults the DID function to Microsoft’s hardware products, it is likely to play a widespread role just like the Windows 95 operating system back then.

There are frequent large-scale privacy breaches such as Facebook, can DID provide new solutions?

IBM

IBM has also laid out a number of projects related to distributed digital identities, including Indy co-sponsored by IBM and HyperLedger. Hyperledger Indy’s project Sovrin is the pioneer of enterprise-level solutions and has advantages for companies that need to immediately deploy DID based on open source technology.

IBM, SecureKey and members of the Canadian digital identity ecosystem are building a blockchain identity verification network. Visa also teamed up with IBM to launch a blockchain-based digital identity system to improve cross-border payment security in the first quarter of 2019.

summary

In general, in addition to the layout of the traditional Internet giants, there are more and more supporting solutions for exploring DID decentralized identities in the blockchain industry . As an indispensable core component in the Web3.0 era, DID is To some extent, it is equivalent to the key “infrastructure” of the industry.

From a decentralized identity framework, to data management applications, to a data exchange platform, a closed loop can basically be formed logically, so that users can completely have their own complete decentralized identity, master their own data, and effectively use and play. The value of data lays the foundation for more diversified application scenarios.

Perhaps in the context of the Web3.0 era getting closer and closer to us, DID is beginning to build a new network system and innovative gameplay based on personal identity, let us continue to pay attention.

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