Web3 ID Coalition Launches to Inform Federal Policy on Digital Identity
“We envision a future in which individuals have control over their digital identities, empowering them to choose which personal data they want to share, monetize or keep private, for greater economic opportunity, freedom and security for all.”
WASHINGTON (PRWEB) March 15, 2023
The Web3 ID Coalition today announces its formal launch as a member-based nonprofit organization that unites technology, industry and government leaders to inform public policy that paves the way for secure, portable, and trusted digital identities. Its mission: to advocate for legislation that gives individuals, rather than corporations, ownership of their digital identities.
“We envision a future in which individuals have control over their digital identities, empowering them to choose which personal data they want to share, monetize or keep private, for greater economic opportunity, freedom and security for all,” said Sena Loyd, President, Web3 ID Coalition. “Adoption of Web3 and other next-generation internet technologies is creating urgency to help government leaders gain a bipartisan understanding of Web3 digital identity. As industry leaders and technology experts, Web3 ID Coalition members are poised to share their knowledge and catalyze a movement toward personal data ownership.”
Key activities will focus on defining a shared Web3 ID taxonomy, assessing digital identity technology standards, and forging public-private sector relationships as part of the Web3 ID Coalition’s overall 2023 policy agenda, which includes the following set of priorities:
- Public advocacy for Web3 ID adoption by the executive branch
- Policy advocacy for the inclusion of Web3 ID taxonomy in Code of Federal Regulation.
- Combating rampant identity theft impacting Americans by working with policymakers on practical solutions
- Policy advocacy for the Improving Digital Identity Act
The Web3 ID Coalition invites new members who represent established identity companies, Web3 digital identity innovators, consulting organizations, and companies across industries with products or services focused on identity, risk and security. Current members include Identity.com, Unum ID, Blockchains, Inc., Genubank and Solutions at Work.
“The transition from Web2 to Web3 is at an inflection point. As the world embraces new decentralized technologies, we believe digital identity ownership is a human right,” said Phillip Shoemaker, CEO & Executive Director, Identity.com. “As a Web3 ID Coalition member, we’re excited to collaborate with policymakers and other digital ID leaders to exchange ideas and carve a path toward a future where personal data is controlled by individuals, not companies.”
Leading analyst firm Gartner reports that decentralized identity is expected to reach a plateau of productivity in 5 to 10 years, according to its Hype Cycle for Blockchain and Web3, 2022. In Predicts 2023: Users Take Back Control of Their Identities With Web3 Blockchain, Gartner explores the advancement of scalable solutions through the integration of Web3 decentralized identity (DID) with Web 2.0 verifiable credentials at a time when traditional identity frameworks are reaching their breaking points.
“As ever more critical services shift online, it has become obvious that digital identity is critical infrastructure for the 21st century. Done right, it will empower people to own their data and organizations to better serve their members,” said Liam McCarty, CEO & Founder of Unum ID. “This will require close collaboration between the public and private sectors, and we are proud to be part of that effort as a member of the Web3 ID Coalition.”
The Web3 ID Coalition is a sponsor of the DC Blockchain Summit hosted by the Chamber of Digital Commerce on March 21, 2023. In November 2022, the Web3 ID Coalition hosted the inaugural Web3 ID Forum, a one-day summit in Washington, D.C. featuring keynote speakers and panel sessions from various private sector, executive branch, and congressional leaders. The second annual Web3 ID Forum is planned for late 2023.
About the Web3 ID Coalition
The Web3 ID Coalition unites technology, industry, and government leaders in the pursuit of digital identity ownership, for all. We advocate for public policy that shifts control of digital identity away from large corporations to where it rightfully belongs: with individuals. Our advocacy, programming and research paves the way for secure, portable and trusted digital identities using a decentralized, distributed, and blockchain-based Internet, empowering individuals and businesses in the transition from Web2 to Web3 and beyond. Together, we can make it happen. We are a 501c(6) nonprofit organization. Visit us at http://www.Web3IDCoalition.org.