web3 Studios forecasts the digital identity space may generate more than $600 billion by 2030
Digital identity, and in particular self-sovereign identity (SSI) is key to enabling Web 3.0 as it’s all about decentralisation and data privacy.
If Web 2.0 was characterised by careless data sharing and its uncontrollable exploitation for commercial purposes, Web 3.0 shifts that paradigm towards enabling data owners to be in charge of their data.
The latter is possible thanks to SSI – a method of identity that centres the control of information around the user, removing the need to store personal information entirely on a central database.
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