Purpose of Identity, its connection to finance, and implementations in the Euro digital wallet and DeFi protocols

This week, we cover these ideas:

  • The nature of digital identity, and the difference between a representation at some moment of time vs. a record of your being

  • The launch of the DeFi Passport by Arcx and how it can be useful for underwriting

  • The European Digital Wallet, and the implication of such a development for CBDCs and government services

  • China’s CBDC, Sweden’s BankID, and other existential crises

If you want to go deeper on this topic, we strongly recommend our conversation with Michael Cena of the Ceramic Network here. Whereas Michael started working on the identity problem by trying to add labels to people, where he ended up is creating a protocol that tracks historic software activity and interactions between actors. In thinking about the Ship of Theseus, this is the solution that says — your identity is your journey through the river of time itself, and not any particular stop you make along the way.