Digitization is changing the world. As digital technology advances, storing and accessing your personal information becomes easier and more secure. Long gone are the days of storing the paper trail of your life in a bulky filing cabinet; we are increasingly documenting our identity digitally.
What would it be like if all these pieces of information were owned and controlled by you foremost (not other entities), located in one place, and accessible? This technology exists, and is evolving each day. In web3, new ways of thinking about identity are being reimagined to address the next phase of digital identity.
This technology exists, and is evolving each day. In Web3, new ways of thinking about identity are being reimagined to address the next phase of digital identity.
Your Secret Recovery Phrase and your identity
Your crypto wallet allows you to store the information that identifies you in one place. When you create your wallet, you are given 12 words known as your Secret Recovery Phrase (SRP). The SRP is typically 12 random words that look something like this (note, this is not a real Secret Recover Phrase):
witch / brown / cat / coven / bollywood / flower / bottle / phone / orange / camper / light / ear
These 12 words are the seed of your digital identity and are used to generate the keys that grant you access to your wallet. The same way you wouldn't give away your bank account PIN number, you wouldn't give away these 12 words: anyone with your SRP will be able to access your wallet and all of the assets held within it. Like at any point in history, where money is involved, so too are bad actors, so it’s important to stay vigilant. To protect your identity and digital assets, you must protect your Secret Recovery Phrase.
What are the ways we can ensure a wallet belongs to its rightful owner and represents a unique individual? How can a user's personal data travel with them throughout their life — online and offline? How can a person's identity and activities be verified accurately and securely without relying on a centralized authority?
Expect rapid advancement over the next few years as the creation, storage, and management of digital identity is revolutionized by web3.
Remember, your Secret Recovery Phrase is the root of your identity in web3. Write it down, keep it safe, and do not share it with anyone: not your sister, not your accountant, especially not your tattoo artist.
The Era of Digital Identity
Secret Recovery Phrase (SRP) is the core of my web3 identity.
SRP needs to be written down and placed in a secure location. An SRP is similar to the pin number to your bank card, you would not want to give it to anyone else or let others see it.
The SRP generates my public account number that is similar to a bank account number, it's how I'm associated with publicly on the blockchain.
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