Web3 ID Explained: 4 Ways To Learn More

Web3 ID Explained

Have you read up on the basics of Web3 identity with our Web3 ID Explainer? If so, you’re ready to take a deeper dive into the future of digital identities.

Below are several additional resources from Web3 ID Coalition members and other authorities that provide further insights and use cases that exemplify some of the ways that Web3 ID will impact the future of business, government services, and daily life in the future.

#1. Build Your Vocabulary

Start with a glossary of commonly used Web3 identity terms. This glossary is a helpful reference guide to words and phrases commonly utilized in Web3 ID discussions and transactions, courtesy of the team at Verified Inc.

#2. Read Up On Use Cases

Learn how verifiable credentials can be useful to industry sectors. In this blog post, Phillip Shoemaker, CEO and Executive Director of Identity.com, outlines the groundbreaking application of digital, verifiable credentials across a variety of industries – education, finance, healthcare, retail and others.

Understand the impact of blockchain on data privacy. Can blockchain technology introduce new possibilities and redefine the protection of users’ data? This insightful piece also from Identity.com addresses this question.

Navigate how blockchain is evolving today’s internet. Blockchain technology can modify the internet in a way that empowers individuals to safely and securely exchange value. The team at Blockchains, Inc. explains how in this blog about understanding the revolutionary power of blockchain technology.

#3. Take Advantage: Tools of the Trade

Ensure you’re doing business with the right people. Know Your Customer (KYC) and Know Your Business (KYB) are regulatory requirements to help stop fraud and financial crimes. FinClusive’s CDD Check Connect is a shared and secure KYC/KYB utility that empowers financial services providers of all types to verify and validate customer and client information, all while maintaining appropriate privacy and security protocols. Then, having a sanctioned FinClusive ID allows others to verify and validate clients, without redundant processes or disclosure of sensitive personal or entity-identifying information.

Verify your connections simply – and with confidence. Verified Inc.’s 1-Click or Free Verification solution enables companies to achieve up to 99 percent signup conversion and eliminate identity verification costs, facilitating a safe and convenient verification process for users.

#4. Seek These Not-To-Miss Reads

Explore the intersection of digital identity and money. In his visionary 2014 book Identity is the New Money, author David Birch argues that identity is changing profoundly – and money is changing equally as profoundly. Continue on with The Currency Cold War: Cash and Cryptography, Hash Rates and Hegemony (Birch, 2020). To understand the influence and impact of digital assets on financial currency, Birch’s perspectives are a must-read.

Consider the evolutionary stakes transitioning from Web2 to Web3. In this Medium article, “The Spatial Web: How Web 3.0 Will Connect Humans, Machines and AI to Transform the World,” Gabriel René paints the portrait of a Web3 future and addresses some of the serious choices and wide-ranging implications of the transition from Web2.

Immerse yourself in the world of Self-Sovereign Identity (SSI). In Self-Sovereign Identity:
Decentralized digital identity and verifiable credentials, authors Alex Preukschat and Drummond Reed present a clear and compelling argument for why SSI is a paradigm shift, and show how you can be ready to be prepared for it. Kaliya Young, also known as “Identity Woman,” takes her research into the nature of identity a step further in The Domains of Identity: A Framework for Understanding Identity Systems in Contemporary Society. In this book, Young defines 16 simple and comprehensive categories of transactions which cause personally identifiable information to be stored in databases, in an effort to facilitate clearer conversations about identity management problems and solutions.


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