The Co-founder of Ethereum, Joseph Lubin, recently spoke at CryptoConf about how we could move to next-generation IT infrastructures and trust minimized networks that will help protect peoples’ identities and allow new innovations like cryptocurrencies, self-executing legal agreements, and self-sovereign identities to be established.
Lubin spoke about ConsenSys incubating over 50 projects, all of which would bring about a decentralized future. He went on to talk about Web 3.0 and the moves they were making to give an idea of the decentralized future they were bringing to the world.
“The internet has evolved over the years from web 1.0 of the past to web 2.0 of the present and soon web 3.0 of the near future. We know that Web 1.0 was a profound invention and Web 2.0 profoundly impacted global society, but what we are merging into web 3.0 is the decentralized World Wide Web and it’s picking up steam as we speak”
Furthermore, Lubin stated that with their Web 3.0 architecture new ways of interacting will evolve, and interoperability will be the key to self-sovereign identity. Lubin explained that uPort is a project dedicated to fixing identity issues on the web, which is one of the main drawbacks of the web 2.0. These drawbacks, as debriefed by Lubin, have led to users’ identities being fractured across the Internet.
Self-sovereign identity is a way of protecting one’s identity on the web, which, in the present scenario is bound to be stolen by hackers or sold online. uPort is among the leading startups which focus on helping users take control of their own identity and protect it while on the web via smart contracts. uPort in one of their posts explained:
“uPort identity is a complete digital representation of a person or organization that is able to make statements about who they are when interacting with smart contracts and other uPort identities,