Creating a self-sovereign identity in the metaverse is important, though questions about privacy and regulatory compliance remain, according to a small group discussion at Consensus2023. More from the ConsensusAtC23 report, presented by Hedera:
aims to transform the way creators engage with their audiences and build business models. While Web1 was read-only, Web2 opened the doors for user-generated “write” content and created the framework for robust digital interactions. Web3, if it works as envisioned, will expand on these foundations by allowing internet users to read, write and own their data, moving power away from centralized entities and toward individual users.
This new vision of the internet puts privacy, decentralization and ownership at the forefront and focuses on restoring choice and agency. Yet, many of these ideals have been stifled by messy execution and stubborn power structures that continue to manage our digital behaviors. And as developers and– a shared, decentralized, immersive digital realm – questions about proprietorship and interoperability remain.
This article is excerpted from CoinDesk’s inaugural Consensus @ Consensus Report, the product of intimate, curated group discussions that took place at Consensus 2023. Click here to download theFurther, of the 168 Consensus attendees who answered an electronic survey, participants were split on who will actually own the metaverse: 40% voted that megacorporations like Meta will take charge, while another 40% voted that everyone or no one will lay claim to a unified digital world.
If you want a shared, interoperable metaverse experience it has to begin with a user base that wants to share…
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