What do you think of decentralization identify verifier?

[RidwanMalik]

Hey guys, so I was checking some projects to invest in this space, since we are nearly there to the event of btc halving. so I thought about investing some on good projects, whether short term or long-term, gains are gains I guess.

This came across to me about decentralization identifying verifer, if I explain about this, it promises to put users back in control of their own data. So it's eliminating the need to rely on centralized authorities for verification. I wonder what will happen if it really gives people power over their digital identities? I believe it could make many processes easier that depend on 3rd party verification. This could improve many things such reducing fraud and online transactions.

What do you think of this, do you have anything that could give me a point to invest in these projects that support this concept?

[robelneo]

Honestly, this sounds something new to me and worth exploring as it sounds good, checking the internet for additional information I found this article on Linkedin

Decentralized Identity (2023): What It Is and How It Works

You mentioned that you did found projects that has this concept, its better to drop projects for us to check, who knows this could be the next trend in the market, just tired of meme coins that has little usage its time for a new trend where usability is the main components.

[Jokers]

You mentioned that you did found projects that has this concept, its better to drop projects for us to check, who knows this could be the next trend in the market, just tired of meme coins that has little usage its time for a new trend where usability is the main components.

If he will do so, this topic will go to trash or to Incentivised Posting and he'll get new warning, -karma and probably some negative badge. He opened this topic just to get this question and shill some project after that. So it is okay to talk about that in general, but shilling some exact projects is not okay for the accounts which are operated by known shills.

[Cryptsafe]

Hey guys, so I was checking some projects to invest in this space, since we are nearly there to the event of btc halving. so I thought about investing some on good projects, whether short term or long-term, gains are gains I guess.

This came across to me about decentralization identifying verifer, if I explain about this, it promises to put users back in control of their own data. So it's eliminating the need to rely on centralized authorities for verification. I wonder what will happen if it really gives people power over their digital identities? I believe it could make many processes easier that depend on 3rd party verification. This could improve many things such reducing fraud and online transactions.

What do you think of this, do you have anything that could give me a point to invest in these projects that support this concept?

OP, I was wondering if you really know what decentralisation in the Crypto space means not to talk of bringing identity verifier to it because nobody would listen to you. There is cex and there is dex. As the name implies, Dex is decentralised which means their is no central powers every one is free to interact with their identity unknown and their transactions only known to them alone while cex is centralised which means there is a central authority that controls everything and anyone who gets involved with them.may possibly be ready to do a KYC which is against the ethics of crypto bit however as things are continuing evolving, there may likely be some changes in innovation and maybe what you have proffered as idea might work and I will urge you to list ye project you claimed to have seen that does such so we could do our research on them and know the forces behind them.

[robelneo]

You mentioned that you did found projects that has this concept, its better to drop projects for us to check, who knows this could be the next trend in the market, just tired of meme coins that has little usage its time for a new trend where usability is the main components.

If he will do so, this topic will go to trash or to Incentivised Posting and he'll get new warning, -karma and probably some negative badge. He opened this topic just to get this question and shill some project after that. So it is okay to talk about that in general, but shilling some exact projects is not okay for the accounts which are operated by known shills.

Thanks for the heads up that's also a reminder for me too, guess I will just have to check out that kind of project online and see if there are projects that have been announced in the altcoin announcement.
It's just the curiosity of the concept that made me temp him to post projects, it's really on me 

[Jokers]

Thanks for the heads up that's also a reminder for me too, guess I will just have to check out that kind of project online and see if there are projects that have been announced in the altcoin announcement.
It's just the curiosity of the concept that made me temp him to post projects, it's really on me 

You are free in making your research even if the projects you will find are the same he wanted to promote. As a moderator I'm far from making excess restrictions. I just explained why he should not answer you and why his answer will be immediately deleted after I will see it. Because he is a known shill and intruder.

The idea of a decentralized KYC procedure is not something unexpected and I think that some projects will try to implement it, but there are issues of trust to such project from both sides, so I'm not sure they'll succeed.

[Cryptsafe]

Thanks for the heads up that's also a reminder for me too, guess I will just have to check out that kind of project online and see if there are projects that have been announced in the altcoin announcement.
It's just the curiosity of the concept that made me temp him to post projects, it's really on me 

The idea of a decentralized KYC procedure is not something unexpected and I think that some projects will try to implement it, but there are issues of trust to such project from both sides, so I'm not sure they'll succeed.

I have known that in time to come, there must definitely be some groups that would want to venture into project of that nature just to see what would become of it but I think it would be near impossible because nobody would give in to it  as it is that people are beginning to get wiser now in avoiding KYC due to the fact of what is happening now in the Crypto space with government actions coupled with the carelessness if Crypto exchanges hack and data leakage.

It is never a bad idea because I believe that everyone individual has their potentials accordingly and would always want to explore means to new innovations. Maybe OP could ake out something from it.

[Faisal2202]

What do you think of this, do you have anything that could give me a point to invest in these projects that support this concept?

This concept is new to me, I never heard of the term DID before, but after reading the post I did some research and also found relevant projects as well to get an idea of how much potential these DID projects have if this narrative catches the hype I don't think it will be a good choice to invest in. For example, let's talk about some of the DID projects I found out, https://sovrin.org/, and some others.

Just a question here is, why do you really think these are good investments, while at the moment, gamifi, and Defi are the narratives that are in hype? Especially the GPU and AI sector is in good hype, so why don't you search for any projects to invest in from that? I would say there are ETH, Matic, Near, AVAX, and DESO (specific projects).

I don't think DIDs are in really great hype, as I just came to hear about it from you, if it would be in hype I should have heard about them from a long time. 

[Z-tight]

Op, in true decentralization, there is no need to submit your data, i.e. when you use decentralized exchanges, you simply trade without kyc, but in a purely p2p way. I am honestly having a hard time understanding what you are looking for here, a decentralized project or what? And take note that 'a decentralization identifying verifier' makes no sense to me, what does that even mean. Make your points much more clearer so you get good suggestions and recommendations.

[bitterguy28]

You mentioned that you did found projects that has this concept, its better to drop projects for us to check, who knows this could be the next trend in the market, just tired of meme coins that has little usage its time for a new trend where usability is the main components.

If he will do so, this topic will go to trash or to Incentivised Posting and he'll get new warning, -karma and probably some negative badge. He opened this topic just to get this question and shill some project after that. So it is okay to talk about that in general, but shilling some exact projects is not okay for the accounts which are operated by known shills.

and this willl prove if OP will never return here to update this thread he asked but since there are no specific project named in here OP still have the benefits of the doubt about that.

But like the first post I have no Idea about this Decentralized identification verifier but according to how I read the explanation of OP in this type of project? i think  that is a lot of project to be believing.

[TomPluz]

Personally, I love this idea of decentralized identity as this can be the solution to the big concern of privacy and the usual concern of the government and other institutions for KYC. We all know that we are mainly afraid of KYC as there is a big possibility that data can be mishandled and even commercialized to the detriment of the data owners hence there is that need for something that can balance these concerns providing like a win-win formula for all stakeholders involved. As we can never get away from the government, maybe we should make some serious look into this option. I think the biggest hindrance will always be adoption by the players in the cryptocurrency industry not unless if the government will demand that this system should be used by all. Overall, this can be what we are waiting for and I am hoping that this can be polished more to make it more palatable to as many people as possible and can get the attention with those in the regulatory functions of the government.

[MUGNIA]

I don't think it's so bad if it's applied outside of crypto, even though it's related to personal data, I don't think crypto needs to be that detailed, even though it's a trend, I personally would rather refuse this verification in crypto, even though it's said to increase the security of our assets.

[Jating]

I don't think it's so bad if it's applied outside of crypto, even though it's related to personal data, I don't think crypto needs to be that detailed, even though it's a trend, I personally would rather refuse this verification in crypto, even though it's said to increase the security of our assets.

I agree with your concerns, when I heard about this concept as well, I thought that blockchain will be enough. However, with the rampant case of identify theft throughout the world, perhaps someone came up with this idea. It's complex to read all those projects, I mean it's technical, but I guess the bottom line with DID is that, we own our data. Not shilling for anything or what, but it's good to look at this project, it might be a success (or failure): (https://ore.network/).

[RidwanMalik]

Honestly, this sounds something new to me and worth exploring as it sounds good, checking the internet for additional information I found this article on Linkedin

Decentralized Identity (2023): What It Is and How It Works

You mentioned that you did found projects that has this concept, its better to drop projects for us to check, who knows this could be the next trend in the market, just tired of meme coins that has little usage its time for a new trend where usability is the main components.

Well that's why I was wanting to ask questions regarding this... How beneficial it can be? I mean i know we must research thoroughly but it doesn't hurt anyone if I seek knowledge from you fellows 

This came across me while I was seeing a discussion with some crypto enthusiasts on a platform. So I came right here to see how this works, I'm surprised you also new to the concept. If you wanted to check projects based on this, give a google search like I did. "DIDs crypto projects"

You mentioned that you did found projects that has this concept, its better to drop projects for us to check, who knows this could be the next trend in the market, just tired of meme coins that has little usage its time for a new trend where usability is the main components.

If he will do so, this topic will go to trash or to Incentivised Posting and he'll get new warning, -karma and probably some negative badge. He opened this topic just to get this question and shill some project after that. So it is okay to talk about that in general, but shilling some exact projects is not okay for the accounts which are operated by known shills.

Well I'm sorry mod. that my question might seem unacceptable. This seem unfair cos I don't think I should be bashed for asking this question. Also, I never claim to be a financial advisor rather I try to seek knowledge, after all we are all in this together and learn right? 

[Jokers]

How beneficial it can be?

It will probably be implemented, but main problem with trust will significantly reduce the number of places which probably can use DID. And not all users will like to use this system because it has its risks anyway and not many projects will accept it.

Well I'm sorry mod. that my question might seem unacceptable. This seem unfair cos I don't think I should be bashed for asking this question. Also, I never claim to be a financial advisor rather I try to seek knowledge, after all we are all in this together and learn right? 

As everyone can see, you are not "being bashed" just by asking the question. The topic itself is okay until you'll try to shill some project tied with a well known spammy exchange. Some of this exchange shill accounts are already banned. If you want "to seek knowledge" you still can improve, never use AI, stop shilling and plagiarizing and don't break other rules as well, and you can continue talking and learning.