SSI and the immense potential of verifiable information.

Verifiable Information: The Fundamentals of Digital Identity on web3

Home Digital Identity Verifiable Information: The Fundamentals of Digital Identity on web3

The World of Web 3

Web 3 represents a revolutionary convergence between the physical and digital worlds, triggering an unprecedented cultural, technological and mindset transformation. This new digital era not only redefines our interaction with technology, but also reshapes our perception of digital identity, ownership, security and community. 

By integrating advanced technologies such as blockchain, artificial intelligence and augmented reality, Web 3 facilitates immersive and personalized experiences, expanding the scope of our digital existence and redefining the structure of our social and economic relationships. This innovative fusion of the physical and digital not only enhances our daily lives, but also drives a mindset shift towards greater interconnectedness and global collaboration.

Having said that, the distinction between Verifiable Information and Self Sovereign Identity (SSI) is extremely important for Web 3. While SSI focuses on the self-management of personal digital identity, allowing users to control and distribute their own information, Verifiable Information has a broader scope. This concept extends to areas such as records, customs, security and contracts, where authenticity and verification are critical. Here, Verifiable Information is not limited to personal identity, but encompasses any data or information that can be used to verify the authenticity of a person’s identity.

In other words, SSI is a very relevant use case within the immense potential of Verifiable Information.

Verifiable Information and SSI context
Digital Identity in Web3

Both systems ensure greater efficiency and speed in processes such as data verification, thus reducing operational costs. They also improve security and trust in digital transactions, which is essential in an increasingly interconnected and technology-dependent world. In short, these technologies – properly implemented – offer greater value and a better experience at a lower cost in a world that is already embracing these technological innovations in various sectors.

“Digital self-sovereignty,” “Decentralized Identity,” “Blockchain Identity?”

Defining the concept of “sovereignty” in the context of SSI presents a particular complexity in addressing human and non-human identities. Inspired by politics, sovereignty implies control and power over others. By exploring the notion of “self-sovereignty” and “autonomy” in these identities, it is intended to go beyond mere individual data management.

While terms such as “decentralized identity” or “blockchain identity” are used, self-sovereignty implies the autonomous issuance of identities while ensuring their portability and verification independently of specific networks or blockchains. 

Although other concepts, such as “self-managed data,” might apply in certain contexts, none fully captures the duality of being self-issued and, at the same time, globally portable and verifiable.

Whether using terms such as “self-sovereignty,” “autonomy,” “decentralized identity,” or “blockchain identity,” the essence is quite similar: the aspiration is to decentralize, protect, and empower users by granting them full control over their identities. Autonomy of issuance, combined with portability and independent verifiability, represents our fundamental commitment to providing a more secure and empowering approach to managing identities, both human and non-human.

SSI Use Cases

The following use cases demonstrate the versatility and positive impact that Verifiable Information and SSI can have in a variety of industries, driving significant advancement in efficiency, security and user experience.

  • Customs: streamlining identity verification processes for the clearance of goods, improving security and reducing waiting time.
  • Contracts: facilitates authentication of the parties involved, ensuring the validity and transparency of agreements.
  • Medical and legal records: enables secure and controlled access to sensitive information, maintaining privacy and confidentiality.
  • Banking: improves security in financial transactions, reducing fraud, high cybersecurity costs and identity theft.
  • Enterprises: optimizes employee and customer identity management, improving operational efficiency.
  • Security and cybersecurity: strengthens authentication and authorization mechanisms, protecting against unauthorized access.
  • Identity recognition: applied in access control and customer verification, improving user experience and security.
  • Public and private services: Simplifies registration processes and access to services, guaranteeing the integrity of user data.
Technology and Digital applications. Time of adoption and Impact in human society

As a conclusion

This article has explored the immense potential of Web 3 in merging the physical and the digital. We have differentiated between Verifiable Information and SSI, highlighting their varied use cases. We also clarified concepts such as “decentralized identity” and “sovereignty” in the context of SSI.

Finally, we invite you to discover Extrimian and the exceptional expertise it offers its customers to integrate into this new digital world quickly and efficiently. Extrimian not only adds value through these technologies, but also provides the opportunity to deepen knowledge in its Extrimian Academy. This invitation extends beyond companies, reaching all users eager to explore this new reality.


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