NFT fundamentals, use-cases & implementations

Transcript

foreign [Music] [Music] so I'm going to talk about nft use cases implementations but yeah more importantly going back to fundamentals so my name is Diane Bruni I'm software architect at metamask and I'm mainly working on an Unchained reputation and Trust scoring to build permissionless system

so yeah it's a big concern within metamask and before that I work with inconsensus and several nft drops and yeah I have concern about about nft and um yeah so the purpose of this of this talk is um to explore how we can build value valuable use cases for people for the society for the real economy so first I invite you all to take a step back about what are nfts and even going further about what are our non-fungible

positions so from cradle to grave um we have positions but we were born without any position and we will die without possession but yet we are having a lot of positions all along our life and yet we are craving for possessions so why and um I would say um positions are real or is it just an illusion I think it is but it's really important for our society to protect people and in general positions are just the outcome

of our work they are also inheritance so we need to have positions to protect that other other ways it will be the law of jungle um so yeah you when you you were born you yeah before you don't have any position but just a little bit before you have a first position it's your identity your parents give you a name um you have some identify Qatar like your gender um and then you you were born and you start having your first position you have toys you have a family you have um you have you you grow up and then you

have a for example a car a degree and then you buy your home you have real estate and sun um and then okay and then maybe there are souvenirs about you but um yeah all that um I like um yeah no fungible position so yeah first yeah it's obvious that uh no fungible positions are uh unique uh assets that are not increasingly uh exchangeable so yeah it's all about I so when you say I it's what is Soul Bond to you in general and what is might or your position that you you have all along your life and then you have all others

that have positions that you care or not and in general not so much but um in terms of of position so as I say you have your identity that is the t-score but you have also credentials like degrees and so on and you have uh real estates you have um you have your car you have relationship and um we need to to to to to to ask ourselves what um is the uh the proof what makes something a position so um for example you have a I don't know a cap you have a shoes what makes this a

possession so actually um sometimes it's quite simple so you need a proof of ownership to to prove that something is an easier possession and when you have a non very valuable uh Goods um just having and on it it's it's enough um you just have something you you we offer you you have it it's it's enough and then you have more valuable things like your computer you have uh I don't know you have a cell phone so then you have invoice or you have a art work and then you have a certificate certifying paper um so this helps

um yeah protecting yourself but it's not enough for like um valuable like very um expensive or valuable things so this is where we introduce ledgers and ledgers introduce the proof of ownership so we only with ledger so if you have a real estate just having like the keys is not enough so you have a lens Lord you have a cadastic if you have a copyright you have like let's say in front that enable to to keep track of you of your of your ownership but now we have a decentralized ledger and this uh brings a lot of new use cases that we could have but without

uh some specific implementations some specific protection about the real ownership the immutability um and and so on so all that um is yeah key for valuable assets and Lowe's is helping a lot on that because if you have a dispute you rely on those but sometimes your asset is directly Unchained for example and then you don't need anything then the proof on on chain so it's all about Ledger for valuable assets and you can have a virtual or

like physical or immaterial assets and a ledger like a blockchain or any centralized Ledger it's just a pointer that shows that you own something so it's a proof of ownership and what is important is to have like an issue that is a yeah relevant that uh have the legitimacy to to to um yeah to to to issue this ledger so for this on Friday's Ledger you um don't uh need to trust them for the long time just at the additions times you need to to to they need to have a legitimacy because if you have anyone that say okay

I'm publishing a ledger and this Ledger will be uh the land registry um yeah if they have no legitimacy it doesn't make sense so yeah it's uh it's important to have the relevant issue and um then The Ledger is um is uh linking uh an asset so you have an ID identifier for uh real assets like a physical asset or immaterial asset um so yeah the entry in The Ledger is not the asset so it's true for uh immaterial and material assets in blockchain for example an nft is not

the um Avatar it's just the proof of ownership so I think it's really important concept and then you have the identity and access management that enable to um to prove that you are related to this asset so just in terms of in term of implementation um decentralized Ledger um so initially with Bitcoin it was just one use case it was about a monetary system and exchange of a value with uh yeah money fungible assets but now with smart contracts you can Implement any use cases um just um

deploying and anyone is free to deploy a smart contract um the The Ledger with some standards that exists today and yeah this is just a self-executing program with storage and and functions and then you can Implement any use case so yeah let's come back to uh to our person that was born and then add like an identity so you can have yeah the identity that is a related um to the person in in The decentralized Ledger or real estate after it you can have so the identifier was really a state so the parcel and then um some uh owner so what will identify

the owner so for the sunrise Ledger it's the account and you have the private keys that proves that you are on audio cons and then you can have um yeah of all the state transition uh mechanisms in order to to manage your Ledger and then you yeah you can deploy it on any uh any near the centralized uh distributed Ledger technology and with uh yeah metadata dancing so to um to build use cases um we came up with several uh standards that help standard dazing so it's unable to have interoperability between the different uh the different uh nft

implementation and so on so like yeah the first one is the erc721 but you can see that depending on the blockchain you have different standards but basically it's quite simple it's an identifier that will identify the the assets and uh an ownership token that is uh well known with ERC 1155 so here you have an identifier with an address but with a lemon because it's a miffon chip spongeable so you have like some copy of the same asset let's say and then you have cell phone tokens that uh are quite um relevant in real Society use cases

where you can have something that is bound to you to you to your address so you can have um your identity you can have like your reputation you have badges you have your degrees and so on so yeah it's uh it's really um it's it's it's an artifact that's enabled to uh create um use case that go beyond financial and um and that can be leveraged for um yeah Social Network and and so on and yeah you have composable Tech token that enable even for uh yeah social use cases but gaming and so on to yeah compose nft with other nfts and then you can

bring like an infinite number of use cases so now we have another um kind of of Standards so it exists like a long time before but uh we um yeah we know that um um all the data the personal data um are like sensitive and you don't want to have everything Unchained so very few work credential enabled to provide uh some credential like you um identity a degree and so on um without putting it on chain but you have approved a signature proof that

enable to to um to to record it so you can have it in your um in your wallet for example and then you can prove everything with it so you can go to um yeah to a bar for example and prove that you are more than 18 without sharing your agents when so you can have a lot of use cases and with attestation you can basically provide any press attestation about someone or any artifact and this is yeah leveraging decentralized identifier and all that are composed with an issuer and subject and a claim so it's unable to create some graph trust graph so it's really a key for

um yeah any reputation based use cases like borrowing or like permissionless mechanics systems um yeah like um let's say a wallet that enable extensibility by by the um by the end users for example for yeah for extending capabilities and you have also the some some ERC that's enabled to um to um mint as solvent token uh variable credentials and then you have a lot of way of implementing uh of implementing the different features and I won't deep dive on it but uh yeah with all that

you can see them as building blocks to to create any valuable use cases um so yeah my favorite use cases are the identity as I told before so you can see the implementation that you you you can use to implement this kind of case identity basically is everything from your name until you uh yeah your national identity uh and so on social network with social graph reputation and Trust credentials and so forth so yeah my main area of exploration is a decentralized society and this enables this kind of use cases so yeah it's my last uh no my yeah it's nearly the last

flight so here it's an example of what we can do with uh um yeah the um social graph that you can build with attestations with verifiable credentials but yeah so for example me as Diane I have some identities that are characterized by my lens profile by my ens and I also put up I have a DOA membership pfp and so on and then I have a lot of people that I follow through uh decentralized social network that I attestation from to to to to to a test that I have some skills and so on and yeah with that you can build like a

iterate recursively you can build like trust and you can Implement like a new limited number of use cases so yeah this brings this benefit so yeah true ownership and control over personal data so you disclose only what you you you want to disclose uh that are portabilities for social graph for example you can use you data for um yeah any social network data immutability so the um yeah the intermediate arrays can't like remove your data it's forever and enable like any permissionless mechanism that's all thank you

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