The metaverse. We've all heard the buzz. Billion-dollar valuations. Virtual real estate. Avatars living digital lives. Beneath the surface of flashy headlines and corporate land grabs, a crucial element is quietly emerging that will truly shape the future of these digital worlds: Decentralized Identity, or DID.
Throw away the speculative crystal ball market forecasts. According to a recent report, the global decentralized identity systems market is expected to see astronomical growth, hitting $11.5 billion by 2034. I'm talking about the human impact. So what does DID really mean for you, the mystical metaverse denizen? And what dangers lurk in its shadows?
Metaverse's Next Evolution: User Empowerment?
Consider, for instance, a future metaverse in which you own and dictate the use of your digital identity. Say hello to a better, safer, more convenient way to share your data with event organizers, game developers, and much, much more. Protect your data with smart, healthy practices and take charge of your health! With did, my identity is on a blockchain, protected by cryptography, and only able to be accessed by others with my consent.
Think of it like this: You're at a virtual art gallery opening. You share a verifiable credential that’s kept on your personal device, such as your smartphone. This is better than having to present a government-controlled driver’s license or a government-owned social media account. This credential proves you’re at least virtual champagne purchasing age. That’s right—even in the metaverse there are laws! The coolest thing? You don’t need to provide your real "date of birth" or other extraneous personal detail.
This isn't just about convenience. It's about power. It’s about returning power from the bureaucratic elite to the people. That's the true potential of DID.
Creative Freedom Unleashed or Digital Dystopia?
As a graphic novelist, I’m especially excited about DID’s ability to transform content creation in the metaverse. Now picture artists being able to directly license and monetize their creations, eliminating the need for intermediaries and ensuring they’re compensated fairly. No more wondering where your message went in the black box of the centralized platforms’ algorithms. DID empowers authenticated provenance and ownership, allowing more accessible tracking of creators’ work and rewarding them for their contributions.
Here’s where the “unintended consequences” come in. What if DID, which was created to always empower users, serves to reinforce different shapes of digital exclusion? Consider this: What about individuals who, for whatever reason, can't obtain or manage a DID? Or are they really locked out of even being able to participate in the metaverse economy? If it does, access will be a privilege, not a right.
Or what of the opportunity for malicious application? DID is designed to combat identity theft, but like all technologies, determined, resourceful criminals may outsmart the system. Picture advanced phishing attacks aimed at stealing DID credentials, or the development of synthetic identities that are used for illegal activities. We need deep proven security standards and applications, accompanied by proper education for users, to avoid putting everyone at risk. The technology may be available, but we must be prepared.
Challenging Corporate Control, Politically?
The current metaverse landscape is dominated by tech giants: Microsoft, IBM, Okta, and many more. They have control over the platforms, the data, and, in the end, the user experience. Decentralized identity is a more direct challenge to this centralized power structure.
DID provides more control to people over their online identities and identities as a whole. This strategy can help take down the walled gardens that companies have built. It can promote more competition and innovation, enabling smaller companies and others to compete and provide different, potentially better metaverse experiences.
This has significant political implications. Imagine a world where users seamlessly move their persona and information from one metaverse experience to another. Nobody should be locked into one ecosystem! This would help ensure a more democratic and open metaverse, less vulnerable to corporate or other manipulation.
Let's be realistic. Those corporations are not going to cede their political power without a fight. They’ll most likely attempt to co-opt DID tech, developing their own proprietary versions that keep them in the driver’s seat. Our battle for a genuinely decentralized metaverse has only begun.
We need to be vigilant. This is why we need to demand transparency and accountability from the corporations developing the metaverse. This means we need to fund open-source DID solutions and push for facilitating regulations that empower the user to own and control their data.
The metaverse is more than a video game or social media network. It’s the next stage of the internet, and it can upend our lives in profoundly exciting ways. Decentralized identity is a very important piece of that puzzle. Let's make sure we get it right. Otherwise the only alternative is a dystopian future. I am personally not willing to live in a world where governments and corporations dictate our digital identities. And neither should you. It is an era to avoid "Experts warn of impending economic crisis" and move towards "Local community rallies to save beloved bookstore."
