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Web3 Identity: The New $77B Revolution
Recorded: Sept. 30, 2025 Duration: 1:04:11Space Recording
Short Summary
In a recent Xtalks episode, industry experts discussed the future of decentralized identity, emphasizing the need for privacy and security in digital interactions. Key topics included the launch of innovative projects like OnChainLottery, the rise of permissionless fundraising platforms, and the integration of zero-knowledge proofs to enhance user control over personal data.
Full Transcription
Thank you. Thank you. Good morning, good afternoon, good evening, wherever you're at in this crypto world.
My name is Cody and I will be your host for today's
episode of Xtalks. We've got a great topic and panel lined up for you. If you can, definitely,
definitely give this space a share and so we can get it out to the masses and help beat Twitter's
algorithm and reach more people. This is definitely a conversation that needs to
be had. And we are excited to keep and continue to keep leading the charge on this top specific
topic. So while I'm trying to get the last remaining panelists up on the stage, please,
please give us a share. Likewise, if you happen to have any
questions, feel free to drop those in the comments below and we will get those up a little bit later
in our show. So give me just one second and I will be right back. Thank you. All right. I think we've got those invites sent out. Like I said, we're just waiting for a few
stragglers to come over from possibly a previous AMA, but we will definitely get going. I have
apologized in advance. I do have a little bit of a limited reception today. So I've got my buddy, Andrew, up. He's going to be co-hosting for me, helping keep this space alive so that we do not rug. Today, what if you could prove everything about yourself without revealing anything about yourself?
I think that's kind of a thing that we would love to do in this world, and that's what drew a lot of us over to crypto.
And the real question is, can one identity or credential really work for banking, employment, social media platforms, email, and even crypto.
And that is definitely the question, I should say, the $77 billion revolution question that
we're going to be asking today.
And we've definitely got a great panel of experts, builders, and innovators in this space joining us today.
So we are extremely excited to have them.
And with that being said, let's go around and just kind of introduce everybody.
If you want to take just 30 seconds to introduce yourself, let's do that.
So an OG and a good friend of mine spawn star how are you it's been a while
since we've talked what's up cody i was just thinking the same thing i was so happy when i
heard your voice it's good to be here yeah we've just been so busy with you know real world events
that it's been hard to get on spaces as much as you know I'd like to but it's good to
be here. Just quick introduction Spawnstar is a treasure hunt platform so think of us as like a
Pokemon Go experience for brands and live events. We are you know everywhere so right now we're in
Austin Texas where we're hosting the Texas Venture Crawl
treasure hunt in a couple days. So literally a treasure hunt across all the main VCs here in
Austin. So if you're a builder, if you're a founder, you should definitely get in on that.
I'll post a link a little later for you guys to kind of like go explore the map.
After that, we have ACL this weekend where we're cooking something smaller but you
know it's the beginning of a bigger partnership with you know the monster behind it you guys can
do the math there uh and then we have la tech week and tech crunch disrupt so very packed month of
activities in october here for spawn star and just happy to be here to talk about identity since identity is at the crux of everything we do, right?
Let's build ledgers around people, but let's also preserve privacy.
Oh, 100%. Definitely, definitely glad to have you on here and it's great to hear your voice as well.
So another OG in my mind is Joel. How are you, my friend?
Hey, how's it going?
I'm doing pretty well.
My internet's really giving me annoying issues,
so probably getting to get a new modem.
So apologies for the delay in getting on the proper accounts.
But hey, everyone, my name is Joel,
and I run business development and marketing for Dash,
which is the best form of digital cash in the world
and also what I use to live off of for my daily money since 2016 or so, I guess.
So just very happy to be here.
Very happy to have you chat with you, Gid Cody.
Remind me, I got to DM you about something too.
Nothing too spicy, don't worry.
Oh, you know I love spicy.
But yeah, definitely be looking for that DM.
But great to have you.
And we've got a couple of new faces on today's episode.
Let's go with only founders.
First time someone gets the name right in the first go.
I appreciate that.
Name is Mo.
I'm the founder for only founders.
We're building a permissionless fundraising platform
and a founder community
helping early-stage founders access capital
through community as opposed to, depending on VCs,
hopefully trying to level the playing field
when it comes to capital formation,
capital allocation, and capital distribution.
Quite excited about the topic for today.
Well, great.
That sounds awesome.
Great to have you as well.
And yeah, I can't wait to hear what kind of input you have to share and expertise you
have there as well.
So next up, we've got OnChainLottery.
Hi there.
Yeah, so the project's called Internet Token, INT, the OnChainLottery.
And the project is exactly what it sounds like.
It's an OnChainLottery.
It works a lot like a regular lottery.
Everything is OnChain verifiable.
Yeah, I'm excited to be here.
Awesome, awesome.
And like I said, we've got a few stragglers that may join us,
may not, but definitely would love to have them. But if you're just joining, my name is Cody and
I am your host for Xtalks each and every week on Tuesday at 10 a.m. Eastern Standard Time,
every week on Tuesday at 10 a.m. Eastern Standard Time, where we really dive into some of the top
trending conversations. So we like to go down some deep rabbit holes. So if you like deep discussions,
this is the right place for you. So if you happen to have any questions for our panelists or on the
topic in general, definitely throw those down in the thread comments below,
and we'll bring that up a little bit later in today's episode.
Likewise, please give this space to share so that we can get it out to the masses.
As it's been stated quite a bit in the intros,
that Web3 identity is definitely something that we're all moving towards,
identity is definitely something that we're all moving towards. And this is a discussion that we
definitely need to keep having to get everybody prepared and ready for it. So likewise, give
everybody a follow. I know quite a few of these guys and they are building some pretty cool stuff.
I'd love to have OnChainLottery and OnlyFounders up as well.
Love to learn more about their projects as well.
So with that being said, I'm going to throw out the very first question, and it's a hard one.
So feel free to just jump in whenever you want.
But this question is right around,
But this question is right around, are we ready as a society for select disclosures replacing oversharing of our data?
Curious your thoughts.
I think we're ready.
I think our government services are not ready.
But we as people, I feel or we can be in agreement that we
are ready but um there's so much that goes into it i would have thought that during this last wave
of building there would have been more on soulbound tokens we talked about it a lot during the nft boom
but you know i think during this like whole shit coin cycle we got a little lost. And I'm hoping that the next cycle will be
way more about soulbound tokens. If anybody in the audience does not know what a soulbound token,
it's just a token that is associated to a person. So it's your digital DNA, right? And it could be,
the cool thing about a soulbound token is one, it's a ledger. It's unique. It's attached to you. So it could hold everything, like your medical records, your driver's license, your civil records.
But it's also trunched in privacy layers so that you can choose what layers you want to share with what people.
And you can make that a disappearing fact.
We have that for disappearing PDFs now.
Like, you know, banks use those a lot
where you need to like put in a password
to be able to access that information
and then it's gone.
So why not have that for layers of your identity?
So, you know, we've been talking about it for a long time.
I hope it comes back.
We've been building on it, to be very honest.
Like the way that we're building our user ledgers
already on SpawnStar is, you know, based on that where we have one, you know, level of identity, be that an email
or a phone number or, you know, whatever we want to use for account abstraction to create a wallet.
And then we're attaching their physical presence in the real world to that and giving it back to
the user. And the user then chooses the brands that he wants to share that information with so um quietly building hoping that it will be more mainstreamly accepted
but we need you know some government bodies on top and on board for that to kind of like get to
to mass yeah i totally agree there definitely needs to be a standardization across the board uh not only
in crypto but also like you said with a lot of the government uh regulatory type of entities
they need to get on board with it as well so great great call outs on that let's go over to
dash you had your hand up yeah i mean it's kind of a little bit of a
loaded question for this space of course everyone's going to say yeah absolutely we're ready um so
i would say
i'd say 50 50 kind of ready kind of not um i don't here's's the thing. The biggest barrier is the actual connection.
Here's the thing.
People lose their keys all the time in crypto.
And if you lose your like identity card,
you can always go for say your birth certificate or something.
And if you lose that, you can go somewhere else.
And then there's always like biometrics and stuff to get it back.
You can, I mean, can go somewhere else and then there's always like biometrics and stuff to get it back um you can i mean you can get locked out of your identity completely in the old school fiat world but it's
much much harder um we need that level in crypto before people are going to be able to trust
something for like everything where it's not just the money that they have they need to be able to
if it's their identity,
and it's like, oh, identity theft happens. Okay, but there's always a way to reset the identity theft, so to speak.
There's always a way to get back and recover that.
Crypto recovery schemes are nowhere near there yet, I don't think.
They can be, but they're just not there yet.
So as soon as we get that,
then I think that we're almost ready to go, pretty much. But that's the one big barrier I would say before we're ready to completely get rid of that. as many of these things outside of government as possible. Anyway, if we can, like if we just say,
like if you want to prove who you are for some purpose
that's not necessarily mandated by law yet,
just, you know, do it.
I think that where things get interesting with government
is not so much of government specifically approves XYZ,
but will, for example,
in like a, let's just say like a common law marriage or with squatter's rights or something like that, those kinds of legal precedent do exist for things that aren't officially enshrined by the
government. So if, for example, you say, here's our bill of, like you could do a bill of sale on a napkin for a vehicle, for example. And so if you do, for example, an NFT this digital form of certification. Even if they don't
recognize it, I think that once you have a couple of court cases that give some judicial precedent
behind recognizing some of those things, then the government will just kind of get along.
But as always, number one thing, make sure that you can always sort of recover your identity in some way, your keys in some way, without using some kind of a centralized intermediary.
Yeah, you brought up some really good points.
Definitely technology.
And there are some things that we still need to, quote unquote, fix in crypto before I feel like we can get mass adoption on a standardization.
So a couple of things I definitely want to circle back on, but only founders, you had your hand up.
Let's shoot it over to you and see what you have to say on the matter.
So I'll start by playing the devil's advocate over here in some sense.
If people have been keeping up with the news of what's happening in UK right now with the devil's advocate over here in some sense. If people have been keeping up with the news of
what's happening in UK right now with the government's mandatory implementation of
a state identity, a digital identity, things aren't really looking that good, right? They've
introduced laws by saying you won't get employed, you will have limited banking facilities if you don't have a digital identity, down to like even travel restrictions and healthcare.
And that's just going to get worse.
one side is a challenge where we are in this prime space and time where digital identity can either
make it or break it what we've been building for years now where we talk about permissionless
capital uh freedom of having control over all our own finances how we bank how we travel how
we move assets how we hold them is all going to be redefined
because there's gonna be two arguments that come up.
One is yes, I'm in control of my identity,
but what does that really mean?
Like, how do I know if I'm actually in control of it
or whatever entity that says it's decentralized
is just a government
pseudonym running it by calling it decentralized, right?
And on the other side, it really all makes sense by saying, right,
if I can aggregate my on-chain, off-chain, online, offline, reputation,
engagement, points of contact, and be able to actually prove my worth through proximity, through network,
through contribution and get value for it, then I'm all for it, right? But if someone has the
control to say, just because we don't like you based on what you said about a certain politician
or a leader or even a CEO, right?
We're gonna shut you down.
And so who do you then go to?
Because if the one in power are the ones
that have control to almost turn you invisible,
and this isn't something new.
China does this very often, right? Where
KOL celebrities, very high profile individuals just vanish. Their accounts just vanish. They
have no online traceability anymore, as if they never existed. So they've done this forever.
And this opens up a debate, right? Is to, are we in for it yes great but what are the limitations
and what are the opportunities that come with it yeah yeah i mean you bring up a good point there
with you know censorship and and how certain countries manage and want to control data and things like that.
But I think that if we pull back and look at the bigger point here,
it's just like, you know, why, I mean, one of the main reasons
why I was drawn to crypto to begin with was the opportunity
and ability to own your data.
And no one else can have that.
And I can authorize those people that I want to have my information.
You know, you look at some of the stuff that's going on right now with these data brokers
that are building profiles on you, selling them off to, you know, other corporations
for ads and potential scammers and all this kind
of stuff. It's scary. And it's also a real eye opener for a lot of people. Because, I mean,
if you're getting constant text messages, spam messages, emails, you know, things like that,
that's a good sign that somebody's got a good chunk of information on you.
And that should be a real good segue, in my opinion, as to why we need to have total control
over our data. And one good example here is this like, as of late, we've been filling out a lot of medical forms and doing things like that for
myself and for family. And it's really interesting when you go from doctor to doctor to doctor here,
at least in the US, you've got to fill out the same stupid forms every single time you go.
And even if you've gone to that doctor before, you got to fill out the stupid form even again and again.
And it's like, you know, you don't know where that data is going.
You don't know where, you know, how.
Yeah, here in the U.S. they have HIPAA and they have all these different compliance issues and, you know, our standards that they expect people to abide by. But at the end of the
day, you know, you hear big businesses that are getting hacked and data breaches and all this
kind of stuff. And at the end of the day, it's just like, oh, oops, sorry, your data is out there
now on the black market for people to buy. And it's, you know, how do we put a stop to it?
buy. And it's, you know, how do we put a stop to it? But, you know, I think that there's a real
opportunity for us as crypto innovators, crypto builders, and crypto enthusiasts to all come
together and formalize a standard that we feel will move the industry forward for ultimate
protection. And I feel like a lot of times that needs to be us
to kind of start setting that standard
so that the government,
so that all these other entities
can then tap into what we've built.
That's just my personal opinion.
But yeah, only founders,
you had a follow-up comment you wanted to make on that?
Oh, I did.
And there's a version of Web3 on that, right?
As you mentioned about going to doctors, insurance brokers,
filling out the same form over and over again.
And as a Web3 founder, co-founder, you do so very often.
And you do that when you're fundraising
by filling up due diligence forms.
You do that when you're preparing for your TGE
by filling up forms for launch pads.
So if you're talking to 10 launch pads,
you're just filling up 10 forms.
And there's no real clarity
as to how they're storing your information,
how they're using your information
and how they're handling it, protecting it, right?
A good example is a few weeks back,
we intentionally said we were raising
and filled out forms across 10 launchpads.
And in about six hours,
that was the shortest window.
From the first submission,
submission, we were already getting bombarded on Telegram, on XCM, and even emails from
we were already getting bombarded on Telegram,
so-called KOLs, marketing agencies, growth hackers, and LP providers, because they got
to know that we were raising.
Now, isn't that so weird that a space where we are all about data protection and data
ownership are the ones suffering
for the same exact reason.
Yeah, it feels like we're just repeating ourselves
from Web 2 over to Web 3, right?
That's for sure.
We've had another good friend of mine, Mr.
Consul, join the conversation.
How are you, my friend?
Oh, maybe not.
Oh, I guess he's a little mic shy today.
He usually brings some spicy take, but anyways, I appreciate you, OnlyFounders, definitely stepping in with some spicy takes there.
OnChainLottery, just curious, haven't heard from you.
What's your thoughts on this take?
I think the world is probably ready to start.
It's accepting a Web3 identity, kind of like how people have
multiple identities right now, or multiple forms of identification, whether it be passports,
driver's license, other verifiable documents.
The world's probably ready to at least start, a form of Web3 identity. And I do believe eventually that will
be the, you know, every identity will essentially be on Web3 and verifiable, simply because,
like someone mentioned, you know, there's just the data leaks and the information of people's
identities that are out there already are just, you know, it's rampant, you know?
I mean, I've come to the point where, like, so that,
as far as, like, social security numbers are concerned,
I'm like, they don't even seem that's almost,
they don't even seem that much important
or rather, like, that secure anymore
because it feels like, you know,
it's probably just out there with all the data things that's happened anyways.
So, yeah, I would say the world's probably ready
to start accepting Web3 Identity as
another source of identity.
And yeah, it'll take a while before it's the sole one or where it's really accepted
everywhere.
Yeah.
So let me throw this kind of a follow-up question.
You know, I've been reading a couple of different articles over the last few months regarding this industry and specifically this kind of revolution of digital identity.
And a lot of them are stating that, you know, it's a $21 billion business right now industry, but it's expected to grow to 77 billion by 2032.
And that's definitely over a 200, almost a 300 percent increase. What is it specifically that's
going to make that jump 300 percent here in about, what, another seven years, six, seven years. I'm curious what your
guys' thoughts are, like what innovation or what kind of technology services are going to be put
into place to make it drive that much. SponStar, go for it. Yeah. So I feel like, you know, I want
to address exactly what someone just said about the UK, right?
What's happening right now with the UK is the reason why the identity market is going to have so much value,
because we're going to have to take matters into our own hands, right?
We're going to have to privatize. We're going to have to protect ourselves.
We're going to have to encrypt so that we are not censored, so that we are not prosecuted,
so that we are not censored, so that we are not prosecuted, so that we are not unjustly chased.
And it's the same, you know, the other side of the coin is what someone else was talking about
in terms of getting spammed because you applied to a launchpad.
And, you know, the fact that I can't even go on my LinkedIn anymore because it's just,
I'm now being phished everywhere that I go.
Like, I've become the target for every single person in the world
that just relates a Web3 founder to having a bunch of crypto
to send Tether for something, right?
And it's the same thing on Instagram.
Now, you know, we have to be verified.
It's the same thing on Twitter.
We have to be verified.
So we've already started taking matters into our own hands
and started to pay for these measures of self-protection,
right? And I feel like that's what we're going to continue to experience across the board.
So, you know, there's a reason why it's such a valuable market and you could take measures and
kind of like preemptively start protecting yourself and start to create tools yourself
that you could then kind of like, you know, privatize to other parties or you could, you know, be a bystander and wait until you have
to kind of like buy a full package from someone else that is building that, you know, and
obviously it's going to have to be on chain.
It's the same thing with AI, right?
Like AI identity is going to be defined by blockchain designers and the identification
for IP is also going to be defined by blockchain designers. The two of them go hand in hand.
I think you cut out there.
Is it me or is it me?
Okay, good.
Yeah.
Sorry, we lost that last part, Spawn Star.
So if you want to jump back on, you can finish.
I know it sounds like you're driving.
But yeah yeah anybody else
have any take on on what they feel will be where did that innovator space where did i cut off cody
uh i i last time i heard you was just basically like where you're talking about like us taking
basically taking the reins and taking the control.
That's where I cut out for a few minutes.
Yeah.
So just to kind of like be, to summarize that in one sentence, right?
Like we are going to have to take control of our data.
We are going to have to control, take control of measures to protect ourselves,
especially if we are in industries that are seen as high profile in order to, you know, not get spammed, not get targeted
for, you know, taking our wallets and taking, you know, our crypto. But also we have the tools
within, you know, our early blockchain build set to not only protect ourselves, but to create
solutions that we can build into our products that are going to be very valuable.
that we can build into our products that are going to be very valuable.
Yeah, I love that.
You know, and you brought up LinkedIn and being such a spammy kind of thing there.
It is amazing.
I got approached by what I thought was a very legitimate project looking for a UI UX designer
for help for a contract thing.
And they were representing the project as basically CEO.
And that was my first kind of inclination that this was a spam because, let's be honest, CEOs don't reach out a lot of times on that unless you know them personally.
And, I mean, everything looked legit.
They sent me a LinkedIn in message.
So it was legit that way. The only, only hiccup that they, the thing that I saw that was off was the quote unquote CEO of this project. Very legitimate project. The name didn't match. I actually know the CEO, and also when you clicked on their profile, it had a picture of a person.
So it was legit that way.
I did a reverse Google image search and found out that this image is attached to like 50
other profiles.
Likewise, the history that they had, work history, was only for the last six months that they had on there.
So a lot of red flags. So just be careful out there on the type of even LinkedIn messages that you're responding to because of the amount of fraud and phishing that's out there as well.
amount of fraud and phishing that's out there as well, which again, to Sponsor's point,
you know, we need to take control.
And that definitely raises the question of like, you know, are we as individuals responsible
for kind of combating fraud and protecting ourselves from it?
Yes, but do the platforms that we use, should they be held responsible as well to help combat this fraud or should they be able to allow it to go?
And I think that we're all in the same question or same answer there where it all comes down to, yes, everybody needs to do their part in trying to make this thing go.
this thing go. But, you know, with Layer 1X, one thing that we're building out with the digital
DIDs that we're building as well is ZKPs. So, zero knowledge proofs for those that don't know what
ZKPs are. It's a great technology that allows you to verify certain information that you want to release without really releasing
that information. And what I mean by that is, you know, let's just say you got some college
student that wants to go into a bar and is under the age of 21. Here in the U.S., you have to be
21 to drink. So they try to pull out their fake ID to get into the bar, try to get past the bouncer
type of thing. And, you know, this way not only will it protect against fraud, but also, you know,
you can verify that you're 21 without revealing your name, your age, all that kind of stuff.
It's like that magic Jedi trick where they wave the hand over the face and
just say, I am 21, let me in, you know, kind of thing. And I feel like that is going to be a huge,
huge innovation and technology that is going to help pivot and move this forward. I'm curious
your guys' thoughts of what other type of technology is out there that you have come across that you might be implementing into your own projects to help combat this and also drive the DID space.
Joel, go for it.
Yeah, so first I pinned a message in there.
Is that the guy who hits you up on LinkedIn?
No, no, it's not. Which random non- non-crypto shell that is one of the best accounts
on x so please follow it it's hilarious so awesome yes so uh absolutely i do think that
encryption of any kinds but definitely zkp is kind of one of the ways forward with this because um
blockchains are fantastic at publicly publicly sharing data for everyone to see that's kind of
like what they're really good at it's super available for everyone anyone can look up anything
and i think that a lot of people have had this kind of illusion of
privacy because no one really knew what to look for and also because of the pseudonymity as far
as a big long you know thing of like hashes and things like that is just oh that's i don't know
who's behind that so therefore it's private but then once you have like chain analysis tools etc
that kind of gets discovered and so if we're going to upload tons of information about ourselves or sensitive things on, you know, to the Internet, that's going to start to be a huge problem if you don't have some kind of privacy there.
Because now it's not just tracing some financial transactions.
Now it's tracing everything.
And we've sort of built this with, we've built a lot of our tech with that in mind.
For example, our username setup system allows you to friend people on the blockchain, etc.
But it doesn't just resolve a payment to a static address, it does a, it acts as a stealth
address.
So you basically can send private payments between usernames without exposing publicly the address that you send to.
And it's a new one every time.
And when you add with the other privacy tools that we have, then it becomes pretty robust.
There's also an encrypted note-taking method there where, say, if I want to pay rent with my wallet.
And so I send a transaction and I want to you know pay rent with my wallet and so I send a transaction and
I want to record on the Dash Evolution blockchain that this is for rent that can be encrypted and so
you can encrypt the message it's there you lose your wallet or whatever you sync to the network
it's all there again but it's not like when you look at it on the actual network you can't see
what it says and so there's a lot of these kinds of things sort of being built out.
I definitely think that that's one of those tricky things is having dealt also, personally, I used to do some work with Zcash and was paid with Zcash for a while.
while. And it's a very robust private cryptocurrency. And some of those challenges, there are a lot of
And it's a very robust private cryptocurrency.
challenges that come around with using zero knowledge technology, because the network doesn't
know, right? There's only so much the network knows. It takes a lot, it complicates a lot of
things. For example, wallet syncing times, and you can't just like show share someone's uh a transaction on a block explorer
be like look see the payment went through even if your wallet doesn't recognize it yet that doesn't
that's kind of useless and there's just a lot of other scalability kinds of um issues that are
for now caused by a lot of that technology i kind of feel like if I were to go with my gut, the end result data blockchain will have a mix
of fully encrypted zero knowledge stuff
and fully public stuff.
And it will kind of use one to find data more easily
and then to point to data more easily
and then the actual results of the data will be you know fully encrypted and hidden um that is of course until
we have uh until we have enough advances i guess in zero knowledge technology that there really is
no major trade-off with doing that as opposed to doing things in a fully transparent way
as opposed to doing things in a fully transparent way.
No, it makes total sense.
I'm gonna circle back,
but I wanna see if any of the other panelists
have anything else they wanna add.
On-chain or only founders, anything you guys wanna add?
In terms of looking ahead,
are the future of decentralized identity?
Yes. uh or the future of decentralized identity yes um here's what i predict right uh and i do this quite often with my friends uh we we have
this joke of the 2030 prediction where we just said uh what we think the world would look like
and how it would behave um i think we're entering an era and a phase and a stage
where a lot of the technology for it to go mainstream,
which it will, will almost become invisible.
So for the ones that really understand it,
decentralized identity is going to play a big role
and it will become a big part of the puzzle
as to how it unlocks
finances, capital, access, travel, association, medical. But it will be invisible. It will almost
be seamless. The same way as Google works right now with SSO, that's how decentralized identity
will eventually become, right? It will be aggregated.
And yes, zero knowledge groups will help a lot because something that I think Joel from Dash mentioned is people think blockchain is about privacy.
But blockchain is anything other than privacy because it's more transparent than any other place right like nobody can really look at my traditional banking statement
and understand where i'm spending my money where am i paying um how do i get the funds in and out
they cannot do so on the if they have access to the bank records but on the blockchain all they
need is your wallet address and everything you do from airdrops to token farming to staking is all
visible which kind of translates at this current stage of anyone being uh vulnerable to attacks
to identity thefts and that's going to change because we'll get to a point where you'll have
to take a step back and question am i really going to pay Instagram, Facebook, Twitter, X, you know, Telegram, Signal, Discord?
Can we keep adding in more and more to be verified?
Or would I rather aggregate all of that and just pay one fee as to, you know, having full control over my identity.
Because even if I pay X right now, a premium plus just so that I can publish articles,
it's very easy for my account to still get hacked and my handle to get stolen and my
identity to be vulnerable.
It has happened to us multiple times on telegrams, right?
And this will continue to happen.
So there isn't really a layer of insurance,
let's call it that,
by saying just because you have a verified profile
means that you are really who you say you are.
And that has to change.
And just quickly answering another point
on who should be held accountable.
That was a topic that came up and I think whichever platform offers any form of
verification should be held accountable for what goes on on their platform.
So if X is getting millions in revenue from premium
verification batches,
they should be held responsible for any scams
that happen on their platform
because they are the ones that are creating that space
for it to take place.
Great take.
Great take.
Antain, you want to add anything?
Yeah, I mean, honestly, I don't think I have too much to add.
You know, when it comes to, you know, what does technology look like?
I mean, I personally really don't know.
I think at some point, you know, people much smarter than me are going to figure out a really cool and useful way to use NFTs when it comes to identity and just verification, rather.
and just verification, rather.
Yeah, that's about as much as I can contribute
to this exact part, I think.
Yeah, I think Soulbounds, right?
Like what we brought up at the beginning.
Like Soulbound tokens, guys.
Let's bring them back.
Yeah, and to that extent, SpawnStar, 100%.
We've talked about your platform, what you guys are doing pretty extensively, and I agree with you.
Soulbound tokens are fantastic ways to basically give user permission and user rights
and being able to store key information without, you know, divulging it. And it's a great
way to integrate that in with ZKP technology as well. It makes the process go a lot, lot faster
as in that fashion. You know, kind of for the L1X family member and community members that are listening, they all know how innovative our founder is when it comes to interoperability.
And one of the main things that drew me to this project over three years ago was the bridgeless interoperability technology that Kevin,
our founder had developed.
And since then him and I have kind of nerded out on a lot of different
opportunities that we can do with this interoperability technology called Xtalk.
And because not only because we've built our own VM and
our consensus models from the ground up,
it makes us EVM as well as non-EVM compatible.
And we can not only move assets, but we can also move data and logic as well.
And I think that that kind of is paramount as well to having a digital identity
that goes and is able to track you wherever you're at in Web3,
if you're on Solana or if you're on Ethereum, if you're playing a game on Avalanche,
whatever it might be, that you can move that data, you can move that logic.
You don't even need to move it.
You can keep it there and we can go in and in and, and access that to build out that,
that kind of profile for you so that you can own your data across not just one
project, but an entire chain,
all chains and kind of unify that whole user experience.
And, and as Kevin and I have been kind of nerding out over this,
one of the things that we've been talking about is how can we add better layers of protection?
That seems to be a common theme in today's discussion is how do we protect our data? going around and around about is, you know, once we are able to tap into your Web3 experience,
we can actually start adding AI algorithms into it that will allow you to, you know,
if you're trying to make a transaction and you live in the U.S. and then all of a sudden it's
coming from North Korea, it could block the trade and block the signature
of the transaction from going through. It could also, you know, if you're on at random times or
if you're starting with new projects that you haven't interacted with before, you know there's a lot of just different things that it can take into
your history uh the type of behaviors that you do how you access web 3 how you engage with it
and really start learning how you utilize web 3 to the point where if it's outside of that very
similar to how google says hey did you try accessing your Google account from this IP address or this location and give you a warning type of thing? Any indication that you can get to block or even get a heads up that there's malicious us to be scammed and lose our keys and, you know, do things like that.
As we kind of look at that moving forward, my question around you guys are, you know, we've talked about what you guys see for the future.
But if you guys had that perfect utopia vision of what a DID platform or interaction would look like in your mind, what is that?
in your mind what what is that what does that look like um i'm curious your guys's thoughts on on
What does that look like?
what a what the future did would look like in like 2030 let's just say
go for it joe
well the first pillar of this this is just dreaming stuff right this is what i would
think is the coolest um first i it i think it would have to be completely pseudonymous as in
it there are people of all kinds of different identities and pseudonyms and things like that
and it should be able to be established around that. So permissionless and pseudonymous is a good start.
Second is I really like,
second I should say is, of course,
as I mentioned before,
proper recovery kind of tools
where I would say that there would have to be,
we have to have some sort of a physical backup kind of thing, kind of like a
YubiKey or one of those kinds of things that helps people get, you know, not, it's not primary access,
but it's kind of like a, a root access kind of thing. And there also, I would think a social
recovery system is kind of the best, like last resort kind of backup as well, where if you just lose everything, like there's a house fire and everything goes away and you just like, you have no idea what to do.
You can talk to three to five friends or whatever you've designated as recovery people.
Give your secret phrase or very, again, not a seed phrase, but like a pass, just one password
to recover your identity. And then these people like three out of five have to sign off on it
and then you get it back or whatever. A social recovery system because people do, that is the
end of the day. What people have is a social recovery system, whether they call up their
bank or whatever, or they call up their parent or neighbor. Do you have a key under the mat that you remember? All that kind of stuff.
So that would be number two.
Number three, I would say user profiles all stored together,
I think could be really effective.
So it's not just a username,
but a username with public details on who that is,
and profile picture picture whatever else all
actually included in the not just in some interfaces but on the actual profile but
one thing that I also like is the ability to sort of stack aliases right because um for example i go by two main things one is my full name and the other is my
x handle the desert links this is my personal thing right and there's so many scammers that
have been impersonating me forever and they just keep coming and they keep coming and it's just
i can't i can't get rid of them because every time there's a new permutation of like the username with one letter changed or something
like that then they just kind of go after it and I first off the good thing about the way
dash usernames work right now is if you register whatever all the L number one and I are all registered as well.
So like if someone tries to impersonate your username by changing one thing,
like if you have an O in your name, like layer one,
if they change it to a zero, too bad.
You already have both of those usernames in your preview username,
but also the ability to stack usernames where someone says like,
let's just say underscores between the desert links, the desert links.
Oh, let me register that one too.
What if someone has like the acronym for it of TDL?
Some people use that.
I might as well buy that one too.
I might as well get all of these.
And so you're able to just sort of in case, depending on where you run across someone someone they don't know exactly which alias you're
which specific alias you might be going for and it requires that sort of trust of being like hey dude
which one is yours are you this one or that one it would be great to just like be able to stack
as many as possible so if people are trying to look you up then you have like this big stack
oh yeah that's got to be him it's like the final boss of name collection there.
So all of that plus an easy, I would just say,
an easy way to collect,
I would say like NFTs of the various permissions
that you want this identity to be able to do,
both a private and a public version.
So for example, if you have your house title permissions that you want this identity to be able to do, both a private and a public version.
So for example, if you have a, you know, your house title or your membership to some super secret club or whatever like that, you'd want those to be private. But then if someone looks
up your identity and it gives you some things you choose to publicly display, such as, you know,
member whatever crypto community you're part of or you know maybe
a political affiliation if you want to do that public i don't know that's always the smartest
thing in this modern climate but you can or just you know what country you are from or for example
and you have a little badge of that that's kind of there and those things can each public each
badge can each nft badge i would say, would get you a permission for whatever access you want to do.
So, for example, you could token get community for only people who have a badge from a certain, of a certain country, for example, or who are part of this thing.
And some of it can be private as well. And then on the whole, the ability to do some kind of encrypted messaging
that you can prevent people from talking to you if they want,
you know, so you don't just let anyone message you,
but some kind of a way of doing that
so it isn't just such a cold sort of profile.
You can actually talk and figure out who's behind it and figure out all the other particulars.
And at the end of the day, the ability to send money to and from this profile very easily without having to be like, hey, post your other address or something.
Just have that all built in, I think is really cool.
And finally, one thing I think is kind of fun,
which this is just like a bonus fun thing.
This isn't necessarily you need to have it.
But I love this concept that one social media app that I used for a while
called Twitch is called the troll toll,
where instead of blocking people,
you could set a price for someone to message you.
And it's not just across the board, you can send individually as well. So if there's someone you
really don't like, then you can just charge them a bunch to talk to you. And basically,
they pay you until you love them. And it works great. And I just think that that would be very
fun of like, I could set permissions if some people can message me for free
but then everyone else has to pay at least a little bit just as an anti-spam thing and if
there's someone who just keeps on like there's some person who's more than happy to pay the
regular anti-spam fee to just send like nasty messages to me i would be great to just be able
to up the fee and so they can't afford to,
or they just go broke, hurling insoles at me and I get rich and I'm happy. So that that's that last
little side. There you go, folks. Who else thinks that Joelle's perfect vision of DID sounds like
my kid's Christmas list wish, wish list, I should say. That was awesome, dude. That's
that's some really good takes. SponStar, do you have anything you want to add to that?
I think that's a pretty good overview. What I would add is, you know, I still really like the
angle of, you know, having a unified ledger, love ZKP attached to that.
I feel like it's a must, right?
If you're not using ZKP in your projects, you're just missing out at that point in time because it's the first step.
I would love it if platforms took accountability over things that happened within their platforms.
platforms, we know that that is not the case. I have had a social media manager once click on a
We know that that is not the case.
link for one of our previous Instagram profiles and had a pirate calling my personal cell phone
in the middle of the night trying to sell me back the Instagram profile and had Instagram do
absolutely nothing about it, even though it was a verified profile until I, on my personal account, created a viral post talking about Instagram pirates.
And then guess what? Facebook decided to fix the problem.
And so, you know, it's like all we can do and, you know, is it's so it's so warped, right, that the path for us to get to privacy is by putting our face
out there publicly. The only way that we actually get to privacy is by, you know, being a public
person and exposing your face. And, you know, it's like, that's such a tricky one, especially
in crypto, especially if you're traveling to places where you could become a victim of some sort of violence because of that. So, you know, I love Joel's, you know, future Rosie view on reality. I'm also a radical
optimist, and I believe that we have all the tools to change from within. And, you know, hopefully
more people talking about it. That's the beginning, right? And if we plant the positive seed of, you know, we can make a difference.
And if we stand together and we pressure the platforms to take more accountability,
to take more ownership.
I do have a closing cool, not cool, but, you know, interesting LinkedIn story that also
happened this week.
We had someone send a message through our Telegram group saying oh we're a vc scout
you know uh there's a fund that really wants to talk to you and then i was like sure send me the
linkedin profile and so they send the linkedin profile of this analyst at finance labs and i was
like okay this is interesting but let's see where it goes because you know it's always good to warn
people on how they're gonna try to take you i was like what's the angle that they're going to do on this one?
And so I was like, yeah, sure, here's my LinkedIn.
My LinkedIn's, I have like 10,000 followers on LinkedIn or something.
So it's like it's a verified account.
And they're like, okay, let's set up a call.
And I was like, okay, here's my Google Meet for us to set up a call.
And then five minutes before the call, they send a message and they're
like, oh, actually, we have to use this new video platform. Can you click on this link? Because
we're bringing in so and so and they like name a real person in Binance Labs, and they don't speak
English. So it's a real time AI translator. And I was like, ha ha, there's where it is. That's
where they were going to try to get me.
So, you know, it's always like, it's always good to kind of like walk, you know, the identity
thieves all the way up till the end, if you can, with some safety, just so you understand the angle
of the move and you can warn other people too. No, I love that. I love that. You definitely hit it on the head. It's crazy. The amount of lengths some of these guys go to, that's for sure. On-chain, lottery, anything you want to add?
That was a pretty good point.
Actually, I agree.
I think it's pretty good to kind of go through, you know,
almost go through the steps of what a scammer is trying to do,
you know, cautiously, obviously, just to make sure you understand.
You know, just to really anyone just working in Web3,
it's really important to understand what the common scams are,
what things should be perceived with caution,
what things are generally safe, all that.
I actually do need to head out.
Thank you guys so much for having me.
This has been really cool, mostly just taking it all in.
And yeah, look forward to the next one.
Yeah, 100%.
Definitely welcome back anytime you want to come back.
And for our listeners, you know what?
I'll leave you want to come back. And for our listeners, you know what?
I'll leave you guys with this one.
And this is my opinion as to why we need to push for DID.
I know that there are a lot of artists and content creators out there.
The second that we can move to a unified, standardized DID platform where you own your content and your data. It will help protect your digital rights to your content and to your music, to your artwork, whatever it might be.
This is one of the main reasons why we need to have DID, especially in the age of digital
internet that we have right now.
It's a problem in Web 2.
It's definitely a little bit of a problem, a growing problem in Web 3 as well.
At least if you're able to tokenize it and do things like that, you're able to protect
But this is why we need to have this kind of stuff, because when you mint your NFTs, when you...
Oh, shoot. Thank you. Thank you.
