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NFT Steez and Lukso co-founder discover the implications of digital self-sovereignty in Web3 - Bol Crypto

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


Sovereign identification has been a sizzling matter in blockchain and cryptocurrency, particularly with the rise of the creator financial system. At the moment, there are two forms of digital identities. One is federated and centralized whereby information is within the management of the service supplier. Self-sovereign digital identification 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 Aug. 2, NFT Steez, a bi-weekly Twitter Areas hosted by Alyssa Expósito and Ray Salmond, met Marjorie Hernandez, the co-founder of LUKSO and The Dematerialized to discuss 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 the 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.

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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 identity within Web3 began to spark up again when 2D profile pic (PFP) NFTs began to emerge. This surge was framed as a means to represent and identity oneself as well as a flex, or expression of ego. For some, their physical and social identities were traded for their newly adopted digital avatars. 

However, Hernandez argues that while some perceive digital as masking one’s true self, she believes that in a “decentralized digital environment,” people will be emboldened “to move beyond these predispositions” and express one’s “true real self.”

The basis of Hernandez’ thesis is that blockchain-based identity is not only verifiable but gives users 100% control of their data, identity and IP.

When asked by a listener what communities should be doing to ensure the standards surrounding self-sovereignty and that users are no longer “consumers” but active co-participants in the ecosystem, Hernandez simply said, “I think it’s just being co-creator, right? And you start building with it.”

Tune in and listen to the total episode tune in right here to NFT Steez and ensure to mark your calendar for the following episode on Sept.16 at 12 pm EST.

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