The next frontier for internet and blockchain protocols is the metaverse. The metaverse is a new world of interconnectivity, promising to be the stage of digital development that enables large numbers of people to simultaneously experience and interact with worlds, platforms, applications and experiences. sustainable digital technologies.
By using digital identities that are not limited to networks that own a single website, service or blockchain protocol, a person will be able to live, play, socialize and do business with ease and while maintaining the same holistic metaverse identity. .
What is the metaverse?
The word “metaverse” comes from two Greek terms, “meta”, meaning “beyond” and “towards”, meaning here “all”. By putting them together, you get a word meaning “beyond all”. This breakdown can help us get a basic idea of what the metaverse is often dealing with; it is a space beyond any aspect of the Internet. From this, we can interact with the constituent parts while being able to move outside them.
In short, the Metaverse allows different platforms and DApps to be connected in a way that allows users to easily move between them without hassle or give up the identity they have in a given location. While the metaverse promises to more fully connect different parts of the digital world and its economy, the infrastructure necessary to fully manifest that promise does not currently exist.
Currently, the way this identity is created and managed on the Internet is incompatible with what the metaverse will be. So, to make the Metaverse work, we will need to create Metaverse identity systems.
The importance of the identity of the metaverse
The need for some sort of identity when an individual uses the Internet is obvious. Even the most mundane activities require some ability to ensure that you are who you say you are. Today, identity on the Internet is very centralized. The systems we use to process identifiers and public keys are generally the responsibility of trusted third parties. Designed before the internet could agree on a model of decentralization, this model has done what it was supposed to do quite well over the past few decades.
This model is not without flaws, however. First, centralization provides clear points of attack for malicious operators trying to get their hands on private keys. Second, the complexity of many public key systems means that most interactions on the Internet are not encrypted for the simple reason that it is too difficult for many people to encrypt their data. Finally, domain registrars, certification authorities, and other third parties technically own things from website domains to usernames; The “owners” of the website just rent the space.
Beyond these concerns, there are practical issues with a centralized identity in the metaverse that makes decentralized models more attractive. The current centralized identities that we have on the internet often fail to travel with us when we move away from the provider of that identity, for example Facebook, and to applications and platforms that do not and are not likely to have a Facebook login function.
You don’t fully own the identity you use, and the data used to create it in the first place is often poorly protected from hackers and frequently bought and sold by the operators who built it in the first place. In a metaverse where anything is possible, security and property will be essential.
Regardless of the identity system used in the Metaverse, these issues, travel, privacy, and ownership will need to be addressed. Any model that does not resolve all three will hamper the individual as they move through the metaverse. Fortunately, it is quite possible. Ideas for decentralized public key systems have been around for years. As Vitalik Buterin explains in his foreword to William Mougayar’s The Business Blockchain book, this information can be processed in a combined way so as to make it very useful without ever compromising the privacy of the individual to whom it belongs:
“All transactions under ‘crypto 2.0’ are accompanied by verifiable traces of cryptographic evidence. Decentralized peer-to-peer networks can be used to reduce dependency on a single server; Public key cryptography could create a notion of portable identities controlled by the user. More advanced types of math, including ring signatures, homomorphic encryption, and zero-knowledge proofs, ensure confidentiality, allowing users to expose all of their data so that some of their properties can be verified. , and even calculated on, without revealing any private details.
Providing that roaming, secure and personal Metaverse Identity (MID), that’s where MetaVisa comes in.
MetaVisa and the MetaVisa credit score
MetaVisa, a layer three middleware protocol, prepares to deliver the best of Metaverse identity as the number of applications in what we understand Metaverse continues to grow.
Using indelible blockchain data, MetaVisa performs comprehensive processing and evaluation of information such as credit history, on-chain behavior, address activity level, assets held, and correlation of addresses to build a MetaVisa Credit Score (MCS) for active members of the Metaverse that can serve as the decentralized Metaverse identity owned by the individual.
The credit system will assign users classified badges according to their MCS.
Users with higher MCS will be rewarded with high rank badges. These badges, which are unique NFTs, can serve as a kind of MID verification system, assuring other users and platforms that the badge holder is who he claims to be, has what he claims to have, and is truthful about his past. chain behavior.
Developers can use MetaVisa’s credit system to improve the Metaverse experience for everyone involved. Beyond simply providing a MID, which will make it possible to interact effectively with other people and applications in the Metaverse, MetaVisa’s credit system can be applied by platforms and applications to provide better services, improve their governance and manage their communities.
Developers and community members can formulate a matching membership system based on the MetaVisa credit system to motivate and retain users with high scores in desired areas. The MetaVisa credit system can also allow developers to quickly identify honest community members they want to attract and reward, improving the quality of the user base and making marketing efforts more effective.
DAOs can use the information in a badge to improve and improve their governance models. For example, a model using the MCS could look at the number of tokens or shares held and factors such as engagement, history of similar apps, and credit rating to determine how the votes should be weighed.
For DeFi, MetaVisa helps improve lending by developing a credit score for the user based on past behavior and current assets. As a result, DeFi protocols will be able to offer new and improved services, knowing that the person they are dealing with is a reliable, active and creditworthy inhabitant of the Metaverse.
Games in the Metaverse can be combined with the MetaVisa credit system to provide special rewards distribution, resolve asset ownership issues, and offer rewards to loyal users. Additionally, the MetaVisa credit system can be used as an identifier to log into third-party applications in Metaverse, including other games and platforms that players may wish to contribute their assets to.
The next frontier for internet and blockchain protocols is the interconnectivity that the metaverse will provide. MetaVisa gives users the tools to establish their Metaverse identity and take it with them between applications, platforms and entire virtual worlds for the benefit of all.
Image from Pixabay