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54791492 No.54791492 [Reply] [Original]

DIDs and VCs: The Building Blocks of Self-Sovereign Identity
Decentralized Identifiers (DIDs) and Verifiable Credentials (VCs) are crucial components of self-sovereign identity (SSI) protocols. They empower individuals and organizations to own, control, and share their digital identities securely and privately without relying on centralized authorities.

>DIDs
DIDs are globally unique identifiers that are created and controlled by the identity owner independently. They are registered on a distributed ledger or a blockchain, ensuring immutability and tamper-resistance.

>VCs
VCs are digital attestations of certain attributes or qualifications issued by a trusted party. They can be cryptographically signed and verified, allowing users to share and prove specific information without disclosing unnecessary personal details.

Both DIDs and VCs are integral to SSI, as they promote privacy, security, and user autonomy in the digital world, reducing the risks of data breaches, identity theft, and unauthorized data sharing.

> Upcoming Regulatory Changes: eIDAS and MIDAS
Two significant regulatory changes—the revised eIDAS (electronic Identification, Authentication, and Trust Services) regulation and the introduction of MIDAS (Market Integrity Directive and its accompanying Regulation)—are expected to impact the identity and crypto industries.

eIDAS is an EU regulation that establishes a legal framework for electronic identification and trust services. The updated eIDAS regulation will include provisions for decentralized identity solutions, which will help streamline digital identity management and enable secure cross-border transactions within the EU.

MIDAS aims to create a comprehensive regulatory framework for crypto-assets and their service providers. It will impose stricter requirements for identity verification, anti-money laundering (AML), and countering the financing of terrorism (CFT) measures, which will affect digital identity and crypto-asset businesses.

>> No.54791503
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54791503

>>54791492
>DID infrastructure Projects
DID Projects with tradeable tokens.

>CHEQD
The cheqd protocol provides a decentralized, privacy-preserving digital identity solution. Its native token, CHEQ, is used for governance and to pay for identity-related services within the ecosystem.

>KILT
KILT is a blockchain-based protocol for issuing and verifying credentials in a decentralized, self-sovereign manner. The KILT Coin (KILT) is the platform's utility token, used for staking, governance, and transactions within the network.


>Intredasting but no tokens
>disco.xyz
Metamask-linked DID wallet for web3 reputation gets shilled in JPmorgan report: https://www.jpmorgan.com/onyx/documents/Digital-identity-assessing-web3s-building-blocks.pdf
tldr; DID/VC is needed in order for DeFi to survive the coming regulation. forced, government-driven adoption = 1000x narrative this cycle.

>> No.54791861

For me, it's the cheqd network. The best DID-writing blockchain. I even ask for extra verifiable credentials and the community reps are so friendly and more than willing to oblige.
One time I asked for verifiable credentials and they gave me three. I said, "Wow, three for free!" and the nice friendly Community Manager laughed and said, "I'm going to call you 3-for-free!".
Now the staff greets me with "hey it's 3-for-free!" and ALWAYS check my three Verifiable Credentials. It's such a fun and cool atmosphere at cheqd Telegram community, I go there at least 3 times a week for bullish updates, 1-2 times for shitposting on the weekend, and maybe once for dinner when I'm in a rush but want a great conversation with Alex Tweeddale about different VC type integrations that fulfil my fundamental research needs.
I even manage my online identity on the cheqd creds platform, it's privacy preserving! What a great DID-writing blockchain.

>> No.54792482
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54792482

>>54791861

>> No.54792555

>>54791861
Cheqd wagies on the loose again kek, enjoy losing your money. There is only one real ID solution, and that is not mentioned on this thread

>> No.54792746
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54792746

>>54792555

>> No.54792790
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54792790

>>54791492
how will this help the jews?
https://www.bitchute.com/video/udYxLmwxoe82/

>> No.54792900
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54792900

>>54792555
This. These guys are so transparent, it's embarrassing.

>> No.54795054

>>54791492
>>54791861
You will never be a real identity provider. You have no biometrics, you have no regulatory approval, you have no ongoing monitoring. You are a credential sharing platform glorified by buzzwords about blockchain into a crude mockery of true identity.
All the “validation” you get is misunderstanding and non-compliant. Behind your back people mock you. Your peers are disgusted and ashamed of you, your “users” implement actual solutions behind closed doors.
Institutions are utterly repulsed by you. Thousands of years of KYC and AML have allowed institutions to sniff out frauds with incredible efficiency. Even DIDs who “verify” through soul bound tokens and ZKP won’t be accepted. Your lack of biometry at the base level is a dead giveaway. And even if you manage to get green check mark NFT, any serious clients will turn tail and bolt the second they gets a whiff of your failure to acquire a license.
You will never be compliant. You wrench out a fake verification every single morning and tell yourself it’s going to be ok, but deep inside you feel the regulation creeping up like a weed, ready to crush you under the unbearable weight.
Eventually it’ll be too much to bear - you’ll buy $ID, run a VNO, stake your tokens, and comply with regulations. Your clients will find you, relieved that they no longer have to risk dealing with the authorities. They’ll delegate their tokens to a VNO with a better reputation than yours, and every Everchain observer for the rest of eternity will know a superior solution is used. Your project will decay and go back to the dust, or you will be sent to prison and get butt raped daily by Tyrone and his gang.
This is your fate. This is what you chose. There is no turning back.

>> No.54795191

>>54792555
Ok? Are you talking of ORE Network? or DASH?

>> No.54795211

>>54791492
There’s no such thing as anything digital that is decentralized.