Cardano sustainability lead believes Decentralized ID will be the next gamechanging use case in Web3

Decentralized identity solutions may be the next big thing in blockchain technology, attracting a new wave of mainstream users, according to Cardano’s sustainability lead.
Speaking at the Web3 Corporate Innovation Day, Alexandre Maaza from Cardano highlighted the need for robust use cases in blockchain to appeal to the next generation of adopters.
The emergence of decentralized identity solutions based on blockchain could offer a game-changing use case to draw in millions of new users. Maaza emphasized that the Cardano Foundation sees a lack of a scalable and relevant killer use case in Web3 that appeals to both businesses and individuals.
Decentralized IDs in Web3 focus on privacy, allowing users to share only essential information for verification rather than sensitive personal data. Users can also control their information through seed phrases as identities are stored locally in their crypto wallets, offering crucial privacy protection.
For blockchain to attract the next billion users, it needs to move beyond speculative investments and focus on practical applications, as Maaza pointed out. Justin Hyun, the director of investments at the Ton Foundation, echoed this sentiment, suggesting that user-friendly apps like blockchain-based Telegram Mini Apps could serve as a Trojan horse for mass adoption.
Hyun emphasized the importance of simplifying complex processes for users to onboard half a billion users successfully.
While developing decentralized identity solutions may not directly generate profits for companies, it can save them significant costs by preventing data breaches. Maaza highlighted the value of digital identity for businesses that collect data and mentioned Cardano’s work on a non-custodial digital identity wallet.
Despite being in its early stages, some countries, like Istanbul, are already exploring decentralized identity solutions to enhance data privacy. Istanbul is using Omchain’s proof-of-identity technology, which does not require database queries during authentication.
In conclusion, decentralized identity solutions could be a game-changer for blockchain technology, attracting a wider user base and offering crucial privacy protection for individuals and businesses alike.