/biz/ - Business & Finance

>>58195204
Through their wallet design.
The private keys are an encrypted liveness scan of the user's biometrics.
>Proves the user is who they say they are onchain
>Proves the user is human & unique
>Proves the user cannot transfer ownership of the wallet

Their Identity Oracle takes that datapoint and puts it onchain.

>>54320012
> it's hard to determine the value of human identity data against other kinds of data
It will be the most important data set that will enable many new Smart Contracts. Without being able to determine who is an individual human behind a wallet, smart contracts get will exploited and value is extracted.

Case and point:
https://twitter.com/OlimpioCrypto/status/1638858804124082179
Countless more exploits like this or worse. If you want me to list them I'll list them.

If DeFi is to evolve beyond the shitcoin casino of 2020-present, human & unique Identity needs to become a datapoint in Smart Contracts.

Already available via a Chainlink Node too:
https://developer.everest.org/#everest-identity-oracle

Chainlink solves the Oracle problem
Everest solves the Sybil problem
1 Link = 1 ID

>>54270917
No one else wants to create an actually working Identity solution because that would go against the decentralization they want.

Like Gitcoin Passport: 'Just attach enough Sybil-attackable profiles together and that makes a Sybil resistant Identity because 20 wrongs makes a right.'

Cognitive dissonance.

>>53545971
Already happened.

>>52948059
We want that to happen, we just know Chainlink can't supply novel Identity on it's own, and that's absolutely vital for Smart Contracts to evolve.

From:
https://everestdotorg.medium.com/everest-is-now-a-data-provider-on-the-chainlink-network-bringing-novel-identity-data-to-377039492189

>Everest provides the only solution for human, deduplicated identity, value transfer, and compliance designed for other projects to leverage.

>By delivering proofs of deduplicated addresses and known KYC-d addresses delivered as a service across Chainlink decentralized oracle networks, Everest will provide profound new capabilities to the ecosystem.

>Everest is excited to enable next-generation services with Chainlink which help mitigate types of account abuse, such as shadow accounts, sock puppets, trolls and troll farms, which all require the ability to generate accounts at will.

You want proof that Chainlink can't solve this issue on it's own? Look no further than whales making dozens or even hundreds of wallets to occupy the Link Staking pool. Novel Identity is needed so Smart Contracts can run as intended.

>>52498957
1 Link = 1 ID
1k Sucide stack
10k Make it

>>51556276
Price feeds alone can only ever be a shitcoin Casino.

>>50560124
Its happened before

>>50379543
Quite frankly Smart Contracts suck if sybil resistance isnt solved properly. Everest is covering the huge stepping stones needed to get there.

>>50334382
You're thinking of Sergey

>>50311827
Need more types of data available on nodes to build better dapps and then. DeFi running off pricefeeds alone has created a liquidation machine, and not much else.

>>50294828
Somewhere in the capstone.

>>50290142
Needs better data available and you'll have your respect