Wondering how people will interact in a decentralized, transparent world? Do you imagine a future where your business will take advantage of the blockchain?
In this article, you’ll discover why digital identity matters for Web3 and you’ll learn how businesses are putting it to use.
How Web3 and Digital Identity Are Changing Business
Businesses of all sizes need to understand that Web3 is the next generation of the internet.
One of the exciting things about Web3 is that it will leverage blockchain, decentralization, and digital identity to improve the relationship between business and customer.
To understand how the relationship will improve, you need to understand how all four relevant pieces of the tech stack fit together. Think of it as a layer cake.
Layer 1: Blockchain
The foundational layer or backbone of the metaverse is blockchain technology. Blockchain is a trusted, secure, immutable, and programmable technology that’s used by many Web2 companies today.
Starbucks and Google, to name two.
To clarify, blockchain is not cryptocurrency; cryptocurrency is a use case of blockchain technology.
Layer 2: Web3
Sitting on top of blockchain technology is Web3. Web3 allows decentralization and shifts ownership of your personal data from third-party entities to you, the individual.
Layer 3: Decentralized Autonomous Organizations (DAOs)
A staple of Web3 and powered by blockchain, DAOs provide a new way for stakeholders to gather around and govern a project, business, or organization. A DAO allows each member of the community to exercise their individual voice and vote on initiatives.
Layer 4: Metaverse
The metaverse sits on top of all three layers and brings in artificial intelligence, augmented reality, and virtual reality to create a 3D internet.
Continue reading: https://www.socialmediaexaminer.com/digital-identity-why-it-matters-in-web3/
In this article, you’ll discover why digital identity matters for Web3 and you’ll learn how businesses are putting it to use.
How Web3 and Digital Identity Are Changing Business
Businesses of all sizes need to understand that Web3 is the next generation of the internet.
One of the exciting things about Web3 is that it will leverage blockchain, decentralization, and digital identity to improve the relationship between business and customer.
To understand how the relationship will improve, you need to understand how all four relevant pieces of the tech stack fit together. Think of it as a layer cake.
Layer 1: Blockchain
The foundational layer or backbone of the metaverse is blockchain technology. Blockchain is a trusted, secure, immutable, and programmable technology that’s used by many Web2 companies today.
Starbucks and Google, to name two.
To clarify, blockchain is not cryptocurrency; cryptocurrency is a use case of blockchain technology.
Layer 2: Web3
Sitting on top of blockchain technology is Web3. Web3 allows decentralization and shifts ownership of your personal data from third-party entities to you, the individual.
Layer 3: Decentralized Autonomous Organizations (DAOs)
A staple of Web3 and powered by blockchain, DAOs provide a new way for stakeholders to gather around and govern a project, business, or organization. A DAO allows each member of the community to exercise their individual voice and vote on initiatives.
Layer 4: Metaverse
The metaverse sits on top of all three layers and brings in artificial intelligence, augmented reality, and virtual reality to create a 3D internet.
Continue reading: https://www.socialmediaexaminer.com/digital-identity-why-it-matters-in-web3/
