Blockchain and cryptocurrency have been hot topics regarding sovereign identity, particularly with the rise in the creator economy. There are currently two types of digital identity. One is federated, centralized, in which data is controlled by the service provider. The self-sovereign digital identification is often cited by humans as a human right. However, what frameworks are available to help in governing it?
This episode of NFT Steez 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 they 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. Hernandez describes the Universal Profile as an operating system (OS), where one can authenticate, send, receive, and make assets.
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
Web3 uses Blockchain-based identities
Web3’s emphasis on identity began to resurgence when PFP (two-dimensional profile pic) NFTs were introduced. This was seen as both a way to express one’s identity and a way to represent it. Some people traded their social and physical identities for 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 denoted:
“I think it’s just being co-creator, right? And you start building with it.”
You can listen to the complete episode of to hear more from this discussion. NFT Steez On the Cointelegraph Podcasts Page or on Spotify, Apple Podcasts, Google Podcasts Oder TuneIn.