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Why you need a Koii DID (Decentralized Identity)

Jan 11, 2022 · 2 mins read
Why you need a Koii DID (Decentralized Identity)
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Why you need a Koii DID (Decentralized Identity)

Another ID, another login, another profile. No thanks.

Wait.

This is actually the problem the Koii DID is attempting to solve. Let us explain.

What is a DID?

DIDs are essentially self-sovereign (self-owned), independent IDs designed to free people from the endless passwords, emails, text messages, and authentication apps used to verify identity. The goal is to put these identifiers under your control and custody, letting you decide when and who has access to your information while providing greater security and convenience. As we transition from web2 to a decentralized web3, the need for a safe place to store our IDs, logins, and keypairs is growing by the day. With this exponential growth, the need for cross-chain interactions facilitated by DIDs is increasing and paving the way for new use cases and applications.

Is a DID similar to a traditional ID?

Although physical IDs like a driver’s license or a passport were not designed with the digital world in mind, they have some valuable attributes. For example, they exist in your wallet under your control, and you can decide who to show your ID to and how much of the ID they see (i.e. covering extra info on your driver’s license when all that’s needed is your birth date).

Unlike their physical counterparts, web2 based IDs from Google, FB and Apple collect and share information about your identity with advertisers and anyone else they deem fit. In the current environment, our online identities and the information they generate are not under our control, leaving us unaware of the data these identities contain and with whom and when they are shared.

DID Advantages

By combining the advantages of physical and digital IDs into self-sovereign decentralized IDs (or DIDs), we are excited to provide the community with something that will make their digital lives more convenient, secure, and transparent. DIDs will become a critical element in the development of the decentralized web. In an upcoming article, we will take a detailed look at some of the specific use cases and highlights of the Koii DID such as:

  • Integration with the Finnie wallet and NFT gallery
  • Cryptographically signed and verified credentials that eliminate the need for centralized intermediaries
  • Arweave storage layer implementation providing decentralization, data permanence, and censorship-resistance
  • Multi-device DID recovery
  • Cross-chain asset ownership and tracking
  • Reduced friction and enhanced user experience when building cross-chain dApps
  • Customizable DID profile pages that generate attention rewards ($KOII)
  • Spam prevention when combined with our reputation system

Stay tuned to our blog and socials for updates and don’t forget to sign-up for the DID and your choice of username https://koii.me/DIDRegistration.

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