Buidler DAO: Web3 talent and project incubator
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Article: @BuidlerDAO
Proofreading: @Vincent
Typesetting: @Coucou
Note: The article only represents my personal views and does not constitute any investment advice.
Guest
Host: @Niels
BUIDLER DAO CO-FOUNDER
@Next
TWITTERSCAN FOUNDER
@West.bit
.BIT CO-FOUNDER
@Yotoyo
MIDHUB CO-FOUNDER
@Alice
FORESIGHT VENTURES Researcher
@Jason
VITAE3 CO-FOUNDER
The full text is 4169 words, and the estimated reading time is 10 minutes.
TL；DR
▪ The full name of DID is Decentralized Identity, which is the identity certificate in the decentralized society in the future; specifically, the wallet addresses and domain names we see can be called a type of DID. With the development of blockchain technology, DID has also received more and more attention.
▪ The presentation form of DID is an address on the blockchain, owned and controlled by one person, which can be used to connect files related to DID, such as wallet address, encrypted account, dApp interaction, social networking, login, etc.
▪ Since the entire Web3 field is in the gradual stage of development, most of the data on the chain is transaction and asset data. The current application directions of DID may be identity authentication and finance, such as issuing work certificates to DAO workers and using DID for credit lending. At the same time, the complexity of DID itself and user privacy issues are also of concern; today with the full development of Web2, how will we protect our own privacy? Our guests also gave their own opinions.
▪ The concept of SBT has also injected new vitality into DID. The indelible attributes of SBT also make people love and hate it. With the innovation and addition of more technologies, we believe that DID has the potential to greatly expand.
What is DID?
Why is DID needed?
Next
In fact, there are a large number of KOLs who are influential on Twitter and also influential on the chain. They may be giant whales. This is a relatively big benefit for a certain NFT, so at the user level Many people will pay attention to who holds NFT. For example, BAYC holders are relatively rich and cool players, and they can buy a VP from 0.08 Ethereum to almost 400,000 US dollars. It can be done.
Let me talk about the application prospects of DID again. Let's look into the future. If a user has an address such as 0xabcd and an address such as 139.eth, for an unsecured loan, the three-digit address will definitely be more valuable. There may be higher rights and interests. So this digital domain name or DID is related to many scenarios, such as your on-chain credit, you can get more loan lines, and you can get higher data and experience on some products.
West.bit
In fact, the problem that DID solves today is relatively basic. It basically replaces the original complex encrypted address . For example, in this way, transfers can be facilitated.
Of course, there are actually many expanded application scenarios now, including logging in to dapps, including the subsequent reputation on the chain, etc., and also including what we think is the biggest point, which is an expansion scenario of Web3 in the future, which is actually in multi- chain It can seamlessly switch between multiple application scenarios, and can bring this good reputation and data information on the chain to every Web3 user.
Yuto Ryo
Our main thinking direction is another direction, mainly the ability of DID on the chain , because the current DID only has a nickname and an avatar, and then it cannot access the database on the chain, nor can it access some decentralized services. In fact, although there has been some exploration in this area, the ability to talk about it is very weak at present.
Jason
First, the current native data on the chain is very financial in nature, and it is difficult to judge a person's non-financial portrait . Second, in the Web3 industry, there is a large amount of valuable work that is generated off-chain and cannot be recorded.
Then we think it is valuable to enrich a user's portrait and then use the portrait to become his resume. This is also based on the attributes of the entire chain and the status of everyone working in the organization.
Alice
The purpose of centralized institutions is to maintain overall order. Identity is the prerequisite for the institution to implement measures. With identity, institutions can manage better in a targeted manner, but privacy issues will also arise. Therefore, in the domain of Web3 that wants to solve the centralization problem, we also need decentralized DID to manage based on identity, so that we can better protect our digital sovereignty.
Do wallet addresses and domain names count as DID?
What are the advantages and disadvantages between different DIDs?
Next
There is a certain correlation between the wallet address and DID, or it is a very strong correlation at this stage.
If there are more scenarios, for example, in addition to binding your address, can we parse more of your information, such as your NFT, your social information, or can we do it like QQ Space? Decorating your own space is something we want to do to empower the DID system.
And at the same time, we also feel that there are some similar bugs in the market. For example, everyone uses 44-digit characters, but another company uses Latin characters, which is very outrageous, right? So I think there is still a lot of room for optimization, and everyone is trying. I also look at my friends and merchants very much. They are doing very well. This market is very early and I think it can continue to iterate.
West.bit
Wallet address is the most basic form of expression in the growth process of DID.
question:
Some data itself is too complex, such as wallet addresses, which cannot be memorized, which will affect people's identity authentication.
With the expansion of the ecology, in a multi-chain environment, the current DID is more dispersed, and people tend to have a unified identity
DID has great prospects, and DID has a high probability of being everyone's entry point into Web3.
Yuto Ryo
Wallet addresses and domain names are both DID, but it is hoped to enhance on-chain capabilities (such as payment transactions).
We think DID should have some scalability. For example, the identity on the chain cannot be just WeChat. It should be WeChat plus WeChat Pay, right? In other words, it is the ability to have a Taobao account plus an Alipay. Yes, this is our outlook on DID.
Alice
After looking at a lot of DID products, I think there are two main points to look at:
Whether this team or this product is attractive enough and capable enough to obtain a lot of traffic in a short period of time and then form a network effect, this is the first step.
Can we generate some new user data , such as our own ecology, such as Lens Protocol, content distribution, etc. At the same time, we should also pay attention to whether there are strong enough application scenarios to enhance user stickiness.
How to evaluate DID
And the relationship between user privacy protection?
West.bit
Web3 data is like a transparent box. This box can actually contain any data, not only your Web3 data, but also your Web2 data. But this box can only be managed by the user's private key.
Behaviors on DID are divided into active behaviors and passive behaviors:
Active behavior : The user takes the initiative to expose it to everyone, and the user makes his or her own choice. What it expresses is one of its tool attributes. DID is also very important as a tool attribute of a data container. When users use it, they must have such awareness of privacy protection, which is very important.
Passive behavior : Data is held by third-party applications. There may be data leakage, but does the source of the leakage or privacy security come from, for example, people taking the initiative to identify themselves today? It is very important whether you really make connections with the private information of these social media in your real world.
Solution ideas (long-term perspective):
Users should take precautions themselves
Tool parties strengthen technical protection and refuse misappropriation
Data aggregators should also pay attention to protecting users
Alice
User intention is important. At the level of data calling, you must first obtain the user's permission and then authorize the signature.
As for Web3, not so many people are actually willing to upload all their data to the same place, because it may be related to reality and risk being exposed.
Data isolation on the chain is very good, case: Polygon’s ZK ID (complete KYC with zero-knowledge proof)
Jason
Two questions need to be determined in DID research:
Who are you: Others judge you through data (I hope to have as much comprehensive data as possible)
Who am I: the data I am willing to show (will hide and show)
For a DID-related product, if you want to look at some issues related to privacy, you need to first define whether the product wants to solve the problem of who you are or who I am.
What is the value of SBT for DID?
Will it become the mainstream form of voucher?
Yuto Ryo
I would like to pay more attention to the logic and technology of SBT:
Storage sector : Is the data stored on the chain, or in the IPFS or on its own server, because this determines whether SBT will have composable and programmable capabilities in the future.
Expanded interaction : SBT has many standard interfaces, so you may need to expand some interfaces in future application scenarios, so these aspects will be taken into consideration when designing. And whether SBT can access some protocols, and how are these protocols structured?
Jason
Because SBT is indelible, users will be more cautious.
Vitae 3 is to solve the problem of who am I, so there will be considerations of returning and unbundling after the project.
I think the relationship between SBT and DID is not a necessary path. If there is no SBT, it does not mean that a certain product is an imperfect DID, but I think SBT may be a kind of identity for a user. The more strengthened the attribute, then it is a strengthened relationship, but not necessarily a necessary relationship.
West.bit
DID itself can be transferred. As a DID product with a unique identity, .bit can be transferred. In essence, it actually represents itself from the perspective of a user asset.
From a social point of view : SBT should probably be associated with DID, or grafted onto the DID level. It supports a certain attribute of DID, such as the honor attribute and the ability to socialize.
What application scenarios will DID have in the future?
Next
It depends on our current needs.
Looking forward to financial scenarios : Credit lending requires a lot of on-chain data, and a lot of off-chain data can be displayed through DID.
Yuto Ryo
Native assets and some native applications:
Smart contract interoperability (Lens Protocol)
Programmable account
On-chain data warehouse
DID empowerment:
Consensus is formed on the chain and expanded off-chain
DAO governance practices
Jason
The core contributors of Web3 still use the Web2 process for job applications and certification, and DID can use the Web3 method for identity verification.
Alice
Credit lending is the general direction
Job hunting is a long-term direction
Tokenomic is relatively complex, so user grading is required. In this case, DID is required for user grading.
West
Trend angle:
The prospect is huge, but currently there are relatively few users, so it needs to be expanded and promoted.
Development stages of DID:
The first stage: through DAO promotion, it can be linked with Web2
The second stage: Explore the product value of DID itself, such as connectivity: similar to QQ and WeChat, seamless transition to other products through DID.
The third stage: Strongly link Web2 and Web3 to form a universal standard
The audience asked: How to get DID out of the purely financial circle and get back to allowing large-scale users to use DID?
Alice
Since we want to break the circle, we must find the application scenarios that are just needed.
Clothing , food, housing and transportation : This is the most fundamental. Break into the service scene and empower your members for the real economy. Especially big brands combine DID for marketing.
Lightweight entry points, such as social attributes : (Case) There is a social product called Jiji, and there is an integration in Jiji. As long as you identify your user name and bind your account, you can add it to your personal profile. An NFT display window pops up under the homepage. This is actually your Web3 asset.
Immediately, he also made an extension, which allows you to see the social relationship attributes of users who hold the same NFT as you, but he only scratched the surface here.
If we talk about discord, if there is actually a natural entry point for DID in the application scenario, is it also a very natural way to directly and naturally transform and integrate a large number of users?
The current influence of DID in the industry, the current users and its ecological application scenarios are not enough. To put it bluntly, although it is very popular, its magnitude is still too small. Maybe wait for him to think that he really has thousands of people. At the 10,000-level level, I think there may be some products that can shake up these more influential Web2 and Web3 products. These are the scenarios I think are most worth exploring.
Buildler Space is a builder dialogue column created around industry hot events, cutting-edge technologies, high-quality tracks, potential opportunities and other topics. It aims to gather a group of high-quality Web3 Builders to accumulate knowledge and stimulate thinking through the output of opinions and the collision of ideas. For Space cooperation, please contact Julie (WeChat: yuxiaodao777)
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