Imagining the Future of Fandom
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SSI (Self-Sovereign Identifiers) vs. FIDO (Fast IDentity Online)
The concept of passwordless, cryptographically protected digital identification has been around for a very long time. Today there are two competing technologies offering differing visions for our potential future digital identities: FIDO2, a specification from the FIDO Alliance, and SSI, a catchall phrase for a group of decentralized identity schemas.
FIDO’s mission is to eliminate the password and make multi-factor authentication (MFA) easy, fast, and ubiquitous. The standard is singularly focused on security. Google brags, “On the employee side, there has not been a successful phishing attack against Google’s 85,000+ employees since requiring use of FIDO security keys.”
But FIDO2 is a centralized system, and while it does a wonderful job with security, it does not offer individuals complete control of their own data.
On the other hand, SSI is a set of open digital identity standards that gives individuals control over the information they use to prove who they are. It can be used to exchange data between issuers, holders, and verifiers without the involvement of any central authority.
You can think of your SSI as a non-transferable, non-fungible token (NFT) or smart contract that allows you to choose what data you wish to reveal and have them verified by anyone you authorize to view them on a public blockchain.
Web3 has the potential to “flip the script” for marketers. Instead of collecting email addresses and hoping to tag users with some form of digital ID, a potential customer could enter your funnel by allowing you to know their identity via their SSI. This would allow you (the marketer) to follow the customer’s digital wallet and have access to the data the individual wanted you to have about them. With this subtle shift, it now becomes possible for you to create a system where both you (the marketer) and the user (potential customer) can both share in the value you create. ...
Read the full story here: https://www.shellypalmer.com/2022/12/imagining-the-future-of-fandom/?mc_cid=d41cbc819e&mc_eid=116e9f337b
