Your ideas about decentralized and personally controlled identity addresses a problem that has been brewing for decades. Can't happen fast enough. I'd like to know more about your ideas for creating audit trails. It seems that one could create transaction records with detailed audit trails to anyone who had touched your information. Thus a random person who happens to have access couldn't just lift your info because someone paid them under the table to do so, right?
As for the metaverse, the current pandemic and ones to follow may make it a necessary and desirable part of our life faster than would otherwise have happened.
Hi Mark - Thanks for the comment. If you look at Etherscan, you can see how this is already being applied on the Ether Blockchain (although not in a very user friendly format). But the idea is that interactions with the Blockchain create a permanent record identifying the Wallet Address (identity) on the other side of the transaction. Some data would be visible to the public and would therefore be visible without interactions that create an audit trail (the fact that you have a University Degree might be an example of this), and other data would require interaction with the Blockchain to gain access (medical records for example). And again some data access would require the individual (the data owner) to authorise access (credit scores and financial records for example), and others might be accessible by certain parties without authorisation (the police viewing your criminal record for example). The point is that even in the case of the latter - where authorisation is not required, an audit trail would be created ensuring that the privilege was not abused in circumstances where it is not warranted.
Point is that yes, your data would be much better protected than would have otherwise been possible. You should check out the company Nuggets that I mention in my post as they address some of these issues directly.
Your ideas about decentralized and personally controlled identity addresses a problem that has been brewing for decades. Can't happen fast enough. I'd like to know more about your ideas for creating audit trails. It seems that one could create transaction records with detailed audit trails to anyone who had touched your information. Thus a random person who happens to have access couldn't just lift your info because someone paid them under the table to do so, right?
As for the metaverse, the current pandemic and ones to follow may make it a necessary and desirable part of our life faster than would otherwise have happened.
Hi Mark - Thanks for the comment. If you look at Etherscan, you can see how this is already being applied on the Ether Blockchain (although not in a very user friendly format). But the idea is that interactions with the Blockchain create a permanent record identifying the Wallet Address (identity) on the other side of the transaction. Some data would be visible to the public and would therefore be visible without interactions that create an audit trail (the fact that you have a University Degree might be an example of this), and other data would require interaction with the Blockchain to gain access (medical records for example). And again some data access would require the individual (the data owner) to authorise access (credit scores and financial records for example), and others might be accessible by certain parties without authorisation (the police viewing your criminal record for example). The point is that even in the case of the latter - where authorisation is not required, an audit trail would be created ensuring that the privilege was not abused in circumstances where it is not warranted.
Point is that yes, your data would be much better protected than would have otherwise been possible. You should check out the company Nuggets that I mention in my post as they address some of these issues directly.