By striking a balance between privacy and identity verification, blockchains can realize their full potential and lure institutional money, QuadrataNetwork’s Lisa Fridman says.
According to a 2022 Institutional Investor survey of 140 respondents with $2.6 trillion of assets under management, regulatory compliance and trust remain the key factors considered with respect to selecting Web3 partners. Therefore, applications seeking institutional liquidity are looking to create compliance-aware platforms. These factors frequently come to the fore on the heels of permissionless pools by the same developers.
When it comes to protecting personal information, permissionless Web3 is hard to beat. Yet, if the users are not able to reveal any aspects of their identity, they cannot leverage their reputations or distinguishing attributes. For example, it’s difficult to prove the “humanity” of a player or the accredited status of an investor if all that is needed to access an application is a digital wallet.
A system where applications can check attributes of user identity without accessing the underlying private data can facilitate more targeted use cases while preserving privacy. For example, a user can decide to share information about their credit reputation while remaining pseudonymous. As a result, dapps can create more differentiated solutions for users meeting particular thresholds.
In conclusion, being able to verify elements of user identity while protecting sensitive data can boost institutional adoption of Web3 and enable participants to be rewarded based on their reputation. Such broader usage of blockchain technology is complementary to the existing permissionless Web3 applications.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
The Oldest Known Burial Site in The World Was Not Made by Our SpeciesPaleontologists in South Africa said Monday they have found the oldest known burial site in the world, containing remains of a small-brained distant relative of humans previously thought incapable of complex behaviour.
Leer más »
Transformers: Rise Of The Beasts Review - Humans Save The World, Not The MovieIt's a serviceable blockbuster, but familiarity in nearly every aspect muddles an obvious attempt to revive a franchise that might be better dormant.
Leer más »
Manchin on Third-Party Presidential Run: 'Not Ruling Anything In, Not Ruling Anything Out'Senator Joe Manchin (D-WV) said on this week's broadcast of 'Fox News Sunday' that he was 'not ruling anything in, not ruling anything out' when questioned about whether he would consider a third-party presidential run. |
Leer más »
World EV Sales Now 14% Of World Auto Sales - CleanTechnicaGlobal plugin vehicle registrations were up 70% in April 2023 compared to April 2022. There were 928,000 registrations, making it possibly the last month with fewer than one million sales per month ever for plugin electric vehicles. In the end, plugins represented 14% share of the overall auto market (10% BEV share alone). This means […]
Leer más »
Yieldflow is Driving Web3 Adoption by Making It Easy to Earn Passive Income Safely.Since the collapse of large crypto projects like FTX and BlockFi, investors have been cautious about parking their funds with centralized exchanges, which, some believe, are susceptible to collapse in ways that might leave their customers empty-handed.
Leer más »