W3BB: Self-Sovereign Identity, Decentralized Identifiers, and Verifiable Credentials

On-chainJanuary 18, 2022, 11:27AM EST
UPDATED: March 7, 2022, 11:05AM EST
W3BB: Self-Sovereign Identity, Decentralized Identifiers, and Verifiable Credentials
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We previously discussed DAOs in detail, ending on a note about how issues facing coin voting governance in DAOs could be mitigated through systems that leverage personal identities (e.g., proof of personhood) and reputation (e.g., proof-of-participation). For example, those governance systems could assign one vote per person or voting power based on reputation, respectively. In the ideal case, they would remedy the problem of vote buying attacks facing coin voting governance. 

Such governance issues are part of a larger issue, which is a need for secure decentralized authentication and verification protocols. Decentralized authentication and verification are essential components of a stack of protocols that enable fully decentralized applications. 

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