FaceDAO--Digital Identity (DID) for Blockchain Technology

We have previously explained how FaceDAO ensures data security and immutability and seeks to give ownership and control to the users through a decentralized platform. This is made possible because FaceDAO is built on blockchain technology. At the center of it all, it seeks to build a user-centric community.

One feature that FaceDAO incorporates in its build is the feature of digital identity.

What does digital identity mean?

A digital identity comes originally from the use of personal data or information on the web created by the individual’s actions online. A digital identity may come in the form of a named profile linked to the device’s IP address, especially on social platforms. A digital identity could contain any of the following data: facial recognitions, usernames and passwords, driver’s license number, online purchasing history, date of birth, online search activities, and medical history depending on the purpose of the social platform. All these identities can be singly located through the individual’s biometric details or social security numbers.

Let us weigh in on the concept of digital identity for blockchain technology in detail.

When it comes to the basics of blockchain, we find that digital identity is at its roots. This is because many organizations and social platforms are faced with the threat of hacking and fake accounts. They seek to solve the issue of digital identity in a world where everything about our identity is on paper or in a large database somewhere.

Our current world is rife with oversharing and a lack of control over people’s data. There is also a need to ensure that real individuals own individual accounts and that no fraudulent transactions take place on those accounts. Social platforms also need to have information on those existing accounts. However, the users of the accounts may not have control over what information is seen about them by others.

Verification processes for documentation purposes in time past require the physical presence of an individual, which can be time-consuming, expensive, and highly inefficient, and data is not stored in a highly efficient way but this has been made easy with digital ID on blockchain technology.

Blockchain can be used to bring digital identity into reality. The user controls what information about them is seen and accessed by others.

Why do we need Blockchain for Identity?

Blockchain identity management systems could be used to eradicate current identity issues such as:

i. Inaccessibility

ii. Data insecurity

iii. Fraudulent identities

How does a blockchain verify identity? 

A blockchain verifies identity by looking at decentralized public identifiers (DIDs) and comparing them against the current credential or identity an individual is trying to verify.

Technological advancements in the digital space have revolutionized every aspect of our daily lives, from shopping to collaborating with colleagues to keeping in touch with friends in a social circle to entertainment to managing our finances. With data driving the world today, digital identity is critical to most business and social transactions. This governs the interaction of users in the digital world.

There are benefits associated with the use of digital ID for blockchain technology. Some of them include but are not limited to:

FaceDAO seeks to bring these benefits and more to its users.

FaceDAO is the evolution of digital identity. By incorporating digital identity, FaceDAO allows for a trustless interaction between its users and the decentralized platform on which FaceDAO operates. It creates an auditable trail that can be used in legal or regulatory proceedings, should fraud or other crimes be discovered later. When it comes to ownership and control issues, FaceDAO understands that full ownership of a profile is crucial to the user. With FaceDAO, everyone has a unique face which is his private key and decentralized identifier (DID) that provides the channel for entrance to Web 3.0.

With this, users have access to governance. $FACE puts the future of the FaceDAO platform directly into the hands of each user, allowing users to curate the platform, and control content parameters and future features.

FaceDAO utilizes digital ID, blockchain technology built on the Ethereum blockchain, and users’ faces to strengthen identification processes.

With FaceDAO, you will be able to encrypt and store data in a decentralized ledger, control what data is stored and who has access to it, keep the network fully transparent by using data validation, save time and money and so much more.

The big problem in the sharing economy is trust. This is why blockchain technology is emerging as a fix for managing identity and hence enhancing trust. This is why FaceDAO validating process is well trusted and ensures the data security of the network user, rights of data, no misleading data, no privacy invasion, 3D liveness, verification, and authentication.

A centralized platform is no longer in vogue as it has played its part and gone. A decentralized platform is the future of blockchain technology and FaceDAO seeks to embrace it fully through digital identity.