Your Digital Identity Travels With You in Web3

Transcript

room right it's so hot here um but we are thrill I'm thrilled to be here my name is Sandy Carter and I am SVP with unstoppable domains and Unstoppable domains if you don't know is a digital identity company and we also um we just named Forbes America's best startup companies as well so we're really proud about that uh what I want to talk to you about today is about your digital identity and how your digital identity can travel with you in web 3 so we will go ahead and get started um I first wanted to share with you um a story so this is a obviously a pancake every Sunday I make pancakes for my daughters it's one of our traditions

and um my daughters brought me this picture one day and they said Mom can you make me that pancake and I was like of course I can make you that pancake and so I did uh you're probably laughing because it's not as perfect as the one on the left um but I think that's kind of a an illustration of where we are today if you think about web 3 uh we're in the you nailed it I nailed it I know I did I did I thought I did for sure I thought I nailed it for sure um and guess what my daughters actually posted it everywhere on Instagram because they thought it was the very coolest thing and they gobbled it up uh but of course it was an MVP uh has a lot of things to do but it also involved a lot of experimentation

and that's where we are today uh in web 3 as we're going along so uh as I talk about things I'll talk about what what's here today but also where we're headed and where we're going as well so first let me start out with what a digital identity is just so that we're all on the same page um so a digital identity enables you to log into any decentralized app also called A D apppp um and it also allows you to own not only your identity but the data that's associated with identity too um so here I'm using examples from Unstoppable on the left hand side you can see my digital identity from a social perspective so you can see things like U

Twitter up there Tumblr up there that identify all of my social influence and then some of the badges that I've got because I belong to certain nft communities or I've won an innovation award so all my badges are up there to certify that I actually belong in certain communities or in certain groups over here on the right hand side is a more um permission-based form of my identity same identity and what you see here is it lists out all the things that are there today in my identity so my 3 million Twitter followers and social media followers are up there my name my email my Humanity check you can also see

that by on the left hand side there are check marks there and that shows what I'm going to allow a particular application to have access to so the really cool thing here is that in web 3 you get to decide what data is shared and you get to decide who gets the data and when they get the data unlike today in web 2 so let's just do that cont right now on web 2 and web 3 so today if you think about your identity you sign in with Google for example you sign in with Instagram or you sign in with Twitter and for the convenience of being able to sign in you get uh access to the application but they then get the data

so for example even though I have over three million social media followers throughout all my platforms um when I then went into Discord I had no social influence why because all of that information about me was held by Instagram or Facebook or LinkedIn or Twitter so in the web 3 world you log in with your identity and all of those forms of information you can choose to share so then you get clout or influence maybe on a social platform or we'll talk about some other examples too where you may use your digital ident identity as we uh move forward as

well so if you think about it today um how many people do own your shopping history I'm sure everyone has shopping history from Amazon uh I worked at Amazon web services so I know for the convenience of being able to shop you store a lot of information there how about your banking information how many people hold banking information or even your contacts uh like today I just ended up getting a note from someone who is a friend of one of my contacts and they got to me through that contact interesting because when I reached out to the the women that I was contacted with she didn't know that she had shared her contacts more broadly and then other

question that we have to start thinking about as people is how valuable is that data how much is that data worth and what is its value so if you think about it we just got the report that showed that Google and Facebook alone just those two companies their advertising Revenue exceeded a hundred billion dollar so I just asked you the question how much is your data worth a lot of times when I ask that question people say not really much but it is it's worth a lot of money how much is my social influence worth I don't know if you can see my Twitter handle down there Sandy Carter you know I have

990,000 followers how much is that worth there is a value to this data that you are seeing as well now since we are in Europe I also wanted to see some of the stats about um about Europe and this is the uh most recent report that just came out from uo barometer and they looked at um entire European Union citizens 73% so not 100 which I was surprised about want to know what's happening with their social media data it's a concern for them it's something that they're uh interested in in knowing about um 66% of people oops what's going on here there we go 66% of um citizens

say they would use a digital identity if it existed and this is describing it as a digital identity that travels with you and that you own your data and so the second question when asked who does the security who does the management is that too big of a cost for you to own your own data the answer was 97% said no we would rather own our own data than having it shared by someone else I'm just curious in the room how many people would rather manage and own their own data than have someone else manage it if you would rather manage your own data raise your hand okay interesting um so this is another piece of research

that just came out as well from Pew research which I think is really interesting um and it this is a global piece of research now so the data I had showed you earlier was from the EU um now now we're talking Global Citizens overall so 80% of citizens say that this is a top of mine worry in fact when they look at three things that concern them things like the climate and inflation the third thing that they're worried about is how is information that's being collected about me from companies governments and entities how is that being used what's happening with all of that data so I found that interesting um that over 80% would put that in the top

three so interesting to me climate inflation and how people are using and leveraging your data so then they also went into 2030 and they found that if people could leverage their own data would that impact the GDP of a country so instead of a company buying your data instead of you getting rewards for providing that data um and PE research again found that there would be a 6% growth in the GDP for emerging companies so those would be companies like Africa who you know have really adopted web 3 or even uh Dubai who just announced their metaverse

strategy and 3% of GDP in developed countries would be increased if individuals got to have control of their data versus uh a government having control or a company having control of that data really interesting for what I thought so I wanted to give you two examples of the future remember I said we're in that dialup phase remember the pancake that wasn't quite perfect that I made um these are two things that are coming so Healthcare data think about healthc care data what if that was stored with your digital identity so I was just at nft NYC and I met with a group of healthc care companies startups new disruptive

Technologies and what they're looking at doing is storing in your digital identity not just your email and your social following but your health care record as an NF now why would you do that well 60% of misdiagnosis occur because a doctor or a surgeon doesn't have all the information about you because that information is siloed by different sets of doctors or hospitals or different countries you've traveled to information and so if you can get all of that information stored in one place and then you can decide which doctors get which information they view that your health care quality of life will go up um in addition I just

moved from one city to another I live in the United States so I don't know what it's like in Europe but I had to transfer my medical information from one state to another state uh in order to do that I had to call all of my current doctors up and I had to ask them for the information and in every case um they said they would provide the data but only 50% would give it to me now this is information about my health the other 50% would only provide it to another medical provider which I thought was quite interesting okay so now let's think about schools we're working with the largest university in the United States right now on putting information

about your education into your digital identity as an nft so what would that look like well imagine your diploma being part of your digital identity so that you could identify where you went to college or a certification that you had just received or skill that you had learned over time that you wanted to make sure were secured on the blockchain this would help in many different areas um for example my youngest daughter just took a class at a community college on computer an animation so being a good Mom I wanted to take that information and save it for when she goes to University right because she would get credit for that um so what I what I did was I called the

university and you know what they asked me to do the Community College asked me to fax a request to them now first I had to find a fax machine um and this was no easy feat uh finding a fax machine anybody know immediately where you can find a fax machine it was really hard um so once I faxed the information in which I had to do twice then they mailed me not emailed me mailed me a physical piece of paper that now I have to save for five years until she gets into college um so this whole thing could be changed if I had that as an nft and I could easily share that you know across the board so some interesting use cases

coming in the future so where I think we should be is I think we all should own our own data we all should choose who we share it with and we all should make sure that we as people will then have the power to believe where that data and that identity gets used or leveraged oops let me get back here and I just gave you some examples of digital identity I used healthc care and education but think about financial records think about sustainability think about travel right um when I go from one airline to another I have clout on one and I have no clout on the other what if I own that data and I could show that I

fly a lot a government platforms Commerce telecommunications so digital identity in the future is even going to be more important than it is today and in fact yesterday I was on a panel and they asked me what's your favorite application today for digital identity and I said it hasn't been invented yet because there's so many new applications that we haven't even thought of that are going to happen through your web three digital identity um so this is what we do with um Unstoppable domains um we work with Partners we have uh over 500 partners that are live in commit and what we do is we integrate a login

capability so that then you can use a web three domain to log into any of those applications so for example you could log into a metaverse this is Atlanta metaverse we were just at the metaverse summit uh in Paris at station F I don't know if anybody else was there um but we talked to a lot of metaverses this is one metaverse and then you can see over here again I can decide what information I want to share as I log into that metaverse and then I can take that same identity sandy. nft I can take that same identity and log into a defi application like cook Finance or log

into a communication platform like huddle which is kind of zoom and web 3 so imagine that I can you now use sandy. nft to get into a dii app to log into Zoom to to log into a metaverse to log into a gaming platform essentially to log into any application that's out there and all that data that is collected now is owned by me controlled by me as we move forward so one of the examples of a one of the Integrations that we've recently done I love to share this example because I think it shows where we are in web 32 um and this is a family wallet it's by Blue Studios and uh this family

wallet is quite interesting because what it does is it enables permission for a wallet to all members of a family um we created this because we found like my daughters are teaching their grandparents about crypto and what's going on um my um my sister and brother-in-law work in the school system all the kids are talking about it they want to know what's going on so we would leverage and use um a family wallet kind of informally but now you have permissions to get in and data can be stored by each family member as they go forward um as they're using this and going forward am I doing that or is something no okay okay awesome

um maybe it's just too hot huh maybe it's like I'm [Laughter] done okay okay awesome thank you the other cool thing is uh we also have templates for a family Dow so while you can um Learn to Earn with the the wallet itself we also have a template for a family da which enables you to have voting rights as a family so grandparents and parents and aunts and uncles and kids and everything are now able to use and leverage and work as a DA teaches you Concepts about a DA so imagine the Next Generation that uses this so my prediction is that the self

Sovereign identity is inevit inevitable in the future um based on all the numbers which you saw 80% globally 63% in Europe alone want to have data that is owned and saved and used by them and that's why I think that self- Sovereign identity is inevitable moving forward so what can you do to take back that digital identity and really use and leverage that well there's a couple of things that I think are are really important um so the first one is that you can establish your own digital identity um so through Unstoppable domains you can go and today get your identity sandy. nft which is one of mine

or sandy. crypto a lot of different choices for that domain and that establishes that domain as your identity moving forward so as web 3 continues to grow and expand we do believe it's important that you today own your identity for companies we think it's equally important so what we've done for companies is we've protected any copyrighted or trade Trade Mark name so if your company today uh wants to claim that domain let me know and I can I if it's protected and trademarked then I can get you that domain for yours this domain is a web three domain so it's yours you own it so you know the difference between web two and web three is you own your domain um um you get to

manage the domain and it's not a subscription or rent it's actually owned by you and then there are other Endless Possibilities that you can do with that domain as well so we're working with a retailer right now um and that retailer is looking to see what kind of discount they could give to their customers if they log in with that web 3 ID because they own the data so imagine this Facebook typically buys data right you typically buy advertising data from Facebook and as you buy that data some of it's wrong so they count on like a 40% fraud rate um so that really costs the retailer a lot of money uh typically

they really uh set on a 40% fraud rate so now the retailer says what if I don't have to pay for that data from Facebook and what if I don't have to count on a 40% fraud rate what kind of reward could I give to the cons consumer so today that that particular retailer typically does a 10% off coupon based on all the factors I told you they believe they could give a $1,500 discount coupon to every consumer based on the savings that they would make and data that would be validated as true because it lives and sits on the blockchain um so we're doing this uh today we're doing this in several different ways one of the announcements

I don't know if you saw today uh we just announced an integration with bitcoin.co.id application um some of the logos that are up there today so I really want to thank you for your time today especially sitting in the steam room thank you guys so much um this is how you can get in contact with me Sandy at Unstoppable domains which is my um email address my Twitter handle is Sandy Carter my telegram it looks like it's cut off but my telegram is simply

Sandy Carter and if you take a picture of me and just plunk it in there so I know it's from you and I met you somehow at ECC then that would be great thank you all very much for staying today [Applause] thanks hi fendy thank you okay cool one question um when you mention that I know ens because I I did buy some domains on ens and people mention the script that you can enrich ens to be the uh your ID on the eth blockchain I'm not sure that kind of clumsy but anyway that's one

thing what but here how does it actually work you mentioned you have send. nft as a login let's say as a universal login but you still need a password or do you connect your wallet to a to a defi or web3 uh platform and that makes a job I mean how do this for oh is it okay great Mercy buol um so um so the way it works is when you get your domain you link it to your wallet and if you want to your email those are two pieces of information mandatory is only one is

your wallet so then instead of typing in all of those characters and letters you just type in sandy. nft so that's how it knows that it's you and then all that other information can be added from other applications or by you yourself and then you decide who you share that information with um and then ens is another domain provider um they are run by a dow but they I think they're using more web two methods because you have to subscribe or you rent it which for us was not very web three because we believe if it's your digital identity then you should own it and so once you buy uh your digital identity it's owned

by you it's never could be taken back by you it's on the blockchain so it's yours forever that's your digital identity does it make sense absolutely so would you say that stable domains is building kind of nft ID because within ceramic building what we call nftd IDs uh still very complex is that something you uh can we just say that you are building this or is it some somewhat different um so I would say we have kind of two core elements so one is the domain itself um and the domain itself provides you with that basic information but the second piece that I think is critical is that login

integration that then allows you to use the domain to be able to log into all of these you know applications as well so it's really the the combination of the two that I think is very important because if you have a domain and you can't use it to log in then you could use it to do a website like you could with ours but then what else can you do with it it's really like you're back in the web 2 world but because now you can do the login as well now you have access to all of the the daps that exist out there as well make sense okay thank you any other questions I could answer for you guys okay then really thank you this

time I really appreciate your time today and thank you so much for oh do you have a question as well oh oh okay okay okay um and thank you for sitting in this hot room because it's really hot you guys were super smart though sit right beside the AC now I know why you're still sitting there right okay thank you guys so much really appreciate it thank you