Okay, this will be challenging, but I’ll try to explain it in simple terms, and believe me, it's worth it.
I'll start with a question: do you like the fact that Facebook stores your data and might use you as a cash cow for selling personalized ads?
Or another question: do you like that any social network will eventually have to disclose your data under pressure from police and intelligence services?
So, the problem is that every platform stores your data, monetizes you, and can easily throw you under the bus by leaking your personal information at the right moment.
Here’s a solution that came to mind (and now it’s going to get complex). We can, in the best traditions of programming, separate the model from the logic and the user interface. Don’t be scared; I’ll explain it all now. We can create your personal data in a separate space, allowing social networks to use only what you deem necessary and in the way you see fit.
Those who understand technology a bit might already sense the problem: user data still needs to be stored somewhere. Another database? What then distinguishes it in terms of personalized ads or leaks?
This is where decentralized identification on the blockchain comes into play.
Instead of storing data on centralized servers, which can be vulnerable to leaks and misuse, blockchain allows data to be stored in a distributed network. This means there is no single center that could be attacked or used for data collection. Decentralized Identification (DID) uses blockchain to create unique and secure digital identifiers that belong only to you.
How does it work? Imagine you create a digital wallet that stores all your identification data. This wallet is not only cryptographically protected but also managed in a decentralized manner. When you want to register on a new platform or grant access to your data, you do it through your digital wallet. The platform does not get direct access to your data, only to the parts you choose.
Thus, you control which data you share and with whom. If a platform wants to use your data for advertising, it only gets the data you have permitted and nothing more. Additionally, all information is encrypted and protected from unauthorized access.
To summarize: The current model of the internet implies that each service (Facebook, Telegram, LinkedIn, etc.) contains a user database, sells it, and is responsible for the risk of data leaks. In this model, your data can be vulnerable to misuse and leaks.
The blockchain-based decentralized identification model ensures that your data remains under your full control. Data is stored in a secure and distributed network, and access can be granted only under the conditions you set. This avoids leaks, misuse, and protects your personal information while maintaining the convenience and functionality of interacting with services.
In simple terms: anonymity, freedom, no need to write silly texts on Facebook like “I did not permit sharing my personal data,” and no possibility of arresting the social network owner for refusing to provide data they don’t have.
What do you think, folks? Who’s up for investing in this startup?
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