Reputation Building Challenges in Web3 - and How to Solve Them

At this time, we do not have full control of our data, and it is siled. But in the months and years to come, decentralized identities and reputations could change that.

Incredible things are being built in Web3, often by pseudonymous individuals who prefer to keep their identities private in the real world.

In some ways, it's liberating. This means that anyone can have a chance to get involved in a project and bring value to the community, regardless of their background.

But as decentralized identities proliferate, there's a problem that can't be ignored: making sure there's an easy way for us to verify the reputations of others.

It's important… for many reasons. If you are about to start using a DeFi project created by a pseudonymous person, you would like to have a way to know that it is trustworthy and reliable.

If you read an article someone has written online, there should be a way to verify that their previous work has been truthful and well received.

And if you buy an item from another user on a peer-to-peer marketplace, it's crucial to verify that they will deliver what you requested, and on time.

All of this has made reputation on Web3 a hot topic. Today, many crypto enthusiasts explore this concept in detail, giving us the proof we need to trust other people without knowing their name and background.

It could be a refreshing antidote to the status quo, where everything we see online cannot be believed. Fake product testimonials have been a long-standing problem, while bots on Twitter can distort reality and our perception of people and businesses. We've even seen experiences where fake restaurants topped TripAdvisor rankings.

As a concept, DIDs remain at an early stage. But one day, your crypto wallet could store much more than altcoins and NFTs. Instead, they could be a rich background of what you've accomplished - open to all. And while the profiles some of us carefully cultivate on Facebook have...