Decentralized Identity in Web 3: Transforming Marketing and Consumer Engagement

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Author(s): Himanshu Sisodia (SSBM Geneva, Switzerland)
Copyright: 2023
Pages: 22
Source title: Concepts, Technologies, Challenges, and the Future of Web 3
Source Author(s)/Editor(s): Pooja Lekhi (University Canada West, Canada)and Guneet Kaur (University of Stirling, UK & Cointelegraph, USA)
DOI: 10.4018/978-1-6684-9919-1.ch020

Keywords: Computer Science & IT / Engineering Science Reference / Web Technologies / Web Technologies & Engineering

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Abstract

Web 3, or the decentralized web, uses blockchain technology and decentralised principles to revolutionize online interactions and commercial practises. It gives people authority, builds trust, and allows for peer-to-peer interactions. Blockchain is a decentralized and secure database that ensures transparent transactions without the need of middlemen. Web 3 is reshaping the financial, healthcare, supply chain, and entertainment industries. Cryptocurrencies provide safe and borderless transactions. It improves supply chain management, assures ethical sourcing, and gives content producers more influence. Decentralised identification systems overcome the problems associated with centralized identity. Scalability, interoperability, and performance are all difficult issues. The importance of interoperability and standardization cannot be overstated. Regulatory and legal problems must be consistent with the ideas of decentralized identity. Decentralized identification systems provide personalised and transparent experiences that foster trust and consumer loyalty.

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Decentralized Identity in Web 3: Transforming Marketing and Consumer Engagement

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