Owning your identity in the web3 age: The shift to decentralized security

By Terence Kwok, CEO and Founder of Humanity Protocol

Our personal information has become one of the most valuable things we own, but it’s also one of the most vulnerable. From social media to online banking, our identities are scattered across the internet, making them easy targets for hackers and data breaches. The big question is: how can we protect our identities while staying connected online?

That’s where web3 comes in. Web3 is not just about blockchain and crypto; it is a whole new way of thinking about identity and security. It puts the control back in our hands, letting us manage our personal data instead of relying on big companies or institutions to do it for us. And it’s already starting to reshape how we protect ourselves online.

Owning your identity with web3

Web3 is all about decentralization. In simple terms, that means no one company or organization holds all the keys to your personal data. Right now, whenever you sign up for a service — whether it’s a social media account or an online shop — you are handing over your data to that company, trusting them to keep it safe. But as we’ve seen with countless breaches, that trust can be broken.

With web3, you are in charge. You create and own your digital identity, which is stored securely on the blockchain. Instead of giving out your personal details every time you use a new service, you can verify your identity without sharing unnecessary information. It’s like having a digital passport that you control, making your online interactions safer and more private.

Paired with biometrics, zero-knowledge can be a powerful tool that allows you to verify that you are who you claim to be without revealing any sensitive personal information.

The magic of zero-knowledge proofs

One of the most futuristic tools web3 uses for protecting your identity is something called zero-knowledge proofs. It sounds complicated, but here’s how it works: you can prove something is true without revealing any extra details.

Say you need to prove you are over 18 to access a service, but you do not want to share your exact birthdate or show your ID. With zero-knowledge proofs, you can verify you meet the age requirement without giving away any other information. Your privacy stays intact, and you remain in control of what you share.

This tech is already being used to protect user identities in web3, allowing people to prove things like their membership in a group or their ownership of assets without exposing sensitive details. It is a huge step forward in preventing identity theft and fraud online.

Real-world benefits: How web3 identity is already working for us

Web3 identity solutions are not just techy ideas — they are making real-world improvements in how we handle our personal information. Here are a few examples of how this is already happening:

1. In finance – Proving your identity is a hassle, especially when you need to do it over and over again for different financial services. Decentralized identities allow you to verify your identity once and then use that same verification across multiple platforms. It simplifies the process and keeps your personal info more secure.
2. In healthcare – Medical records are a treasure trove for hackers. But web3 allows you to store your health data securely and share it only with the people who really need it, like your doctor or hospital. This not only protects your sensitive info but also helps build trust between patients and healthcare providers.
3. In education – Ever had to scramble to prove you have a degree or a certification? With Web3, universities can issue digital diplomas that are easy to verify online. You can instantly prove your qualifications anywhere in the world without the risk of document fraud.

Battling digital threats with web3

We live in a world where deepfakes, bots, and AI-generated misinformation are growing concerns, especially when it comes to elections or public discourse. Web3 identity solutions could be a game-changer in this space. Imagine a world where every video, statement, or post from a public figure can be verified as authentic through blockchain technology. It would help prevent fake news from spreading and build trust in the information we consume.

Why it all matters

At the end of the day, web3 is about giving you back control of your identity. We are used to trusting companies and platforms to manage our data, but we are also seeing the downside of that approach. Web3 flips the script, putting the power back into your hands and making sure you control who has access to your information and when.

The best part? This is just the beginning. Web3 identity solutions are still evolving, but the potential is huge. As more of these technologies come to life, we are moving toward a future where your digital identity is safe, private, and fully yours to manage.

In a Web3 world, your identity is no longer something you hand over. It is something you control, protect, and use on your terms. That is the kind of future we can all get behind.

About the author

Terence Kwok is the CEO and Founder of Humanity Protocol, a leading organization dedicated to amplifying human potential amidst the transformative impact of artificial intelligence. The visionary technology entrepreneur from Hong Kong is the CEO and founder of one of Asia’s first unicorns. His journey has been marked by strategic partnerships with a broad spectrum of globally influential investors and partners, setting disruptive new industry standards. With expertise in blockchain, Web3, and technology integration, Kwok aims to use technology to bring people together, ensuring its benefits are widely accessible and impactful.

Article Topics

cybersecurity  |  data privacy  |  digital identity  |  Humanity Protocol  |  identity management  |  web3