NFTs, Verifiable Credentials, and Picos Phil Windley
Summary: The hype over NFTs and collectibles is blinding us to their true usefulness as trustworthy persistent data objects. How do they sit in the landscape with verifiable credentials and picos? Listening to this Reality 2.0 podcast about NFTs with Doc Searls, Katherine Druckman, and their guest Greg Bledsoe got me thinking about NFTs.
China is using #blockchain technology to manage #prisoners as if each #prisoner was an #NFT/token on the blockchain…
Unstoppable Domains, the leading platform for self-sovereign identity on Web3, today announced a partnership with Alchemy. Alchemy empowers 70 percent of the top Web3 apps and NFT platforms through their enterprise API.
Given the continuous discussions around centralization/de-centralization in our community, I found this essay by Moxie Marlinspike …
This session described how we can use the authentic data solution to track provenance and controllership of digital data and effectively create NFTs, now called NFADs, that are completely independent of blockchains and tokens. This eliminates minting and transfer costs common on the NFT silos. I have provided link to the slides.
“I was working on an online trading-card game in the early days that had player-to-player card trades enabled through our servers. The vast majority of our customer support emails dealt with requests to reverse a trade because of some kind of trade scams. When I saw Hearthstone’s dust system, I realized it was genius; they probably cut their support costs by around 90% with that move alone.”
There’s a thread in a list I’m on titled “NFTs are a Scam.” I know too little about NFTs to do more than dump here three thoughts I shared on the list in response to a post that suggested that owning digital seemed to be a mania of some kind. Here goes…
NFTs are technologically interesting as a way of proving ownership and facilitating value transfer; but they are problematic if applied to proving a person’s identity.
A soulbound item, once picked up, cannot be transferred or sold to another player.
Most very powerful items in the game are soulbound, and typically require completing a complicated quest or killing a very powerful monster, usually with the help of anywhere from four to thirty nine other players.
Imagine a 3D immersive environment along the lines of Second Life. You “decorate” your “home” with “art”. You pop up an obligatory Persistence of Memory Dali print. But is it “real” and what does real even mean? In the physical realm, we know that this is only one original, which is at the MOMA in NYC. But what about the various quality prints that I can buy – at the MOMA, on Amazon, on the street.
how do issues of identity and anonymity play out in the world of creating and collecting digital art and collectibles on the blockchain.
we describe how self-sovereign identity (SSI) can be the solution to verify the origin and legitimacy of an NFT and its linked object, and we invite you to join Gimly and bitcoin artist Petek @RaydarRayne on our journey to fulfill the potential of NFTs for digital and physical artists alike.
That’s definitely one of the ideas that I’m exploring for more longer-term. […] to have an embedded a private key in a secure element within the IOT device, and be able to verify the identity or the source of your IOT data through an SSI mechanism. That’s the longer-term, broader vision when talking about the supply chain, for sure.
NFTs offer creators a novel way to monetize their creations. Unfortunately, there have been reports of artists having their artwork sold by impersonators. This is, in part, due to popular NFT platforms lacking a robust verification process for determining a creator’s identity.
avatars (the visualisation of self-sovereign identities) go beyond simply providing users with further ownership and control over their cryptographically secure identities, by offering an end-to-end application ecosystem designed to facilitate the commerce and exchange of digital and physical services
an epic thread on twitter unpacking the uproar about the DeSoc paper relative to DID/VCs and NFTs/SBTs.
What does decentralized, trustless, digital identity look like?
On-chain Soulbound NFTs?
Off-chain Verifiable Credentials?
Where will the future of Web3 identity live?
Some also worried that SBTs, given their potentially public, non-transferable qualities, could give rise to a Chinese-government-style “social credit system.” Others took shots at co-author Buterin personally, criticizing his “lack of understanding of the real world.”
Sekuritance is implementing an identity-based ntNFT (non-transferable non-fungible token) to be utilized not only within the Sekuritance platform but also within its partner ecosystem
Ultimately, each one of these will find their uses but care should be taken to avoid creating another scandal similar to Clearview AI where people release data into the world without being truly aware of the downsides it can create. Privacy, you don’t know what you got till it’s gone!
Blockchains are not required for exchanging verifiable credentials, but layer-2 networks like Ion, built on top of Bitcoin, can provide an additional level of security when creating Interestingly, all interviewed users claimed to have had a seamless and easy onboarding DIDs.