What Is SHIB SSI? Shibarium’s Decentralized Digital ID Answer

Shiba Inu’s digital identity to help users sail through a complex ecosystem with a unique SSI.

Shiba inu admiring the perfect version of digital shiba inu.
Created by Kornelija Poderskytė from DailyCoin
  • SHIB Token is implementing Self-Sovereign Identity (SSI) into Shibarium.
  • An educational blog post describes the importance of digital citizenship.
  • Shibarium digital IDs are the latest effort in Shiba Inu’s DeFi push.

To help make the Shiba Inu community “100% decentralized,” its devs have introduced a Self-Sovereign Identity (SSI) system into Shibarium. The Layer-2 scaling solution for the popular memecoin project is set to have an extra security layer with the new integration of SSI in all of SHIB Token’s products. The motive behind this approach is to bolster security and user control.

What Is Shiba’s Self-Sovereign Identity (SSI)? 

In the latest official blog message by Shytoshi Kusama, SHIB Token’s lead developer explained the principle behind a Shibarium-native digital identity. As explained in the blog post, a Shiba Self-Sovereign Identity is based on advanced protocols to verify a person’s credentials in digital surroundings; the person owns his or her data on the blockchain.

In contrast, big tech corporations have been collecting user data for ages – even though this is done with the user’s permission, the vast majority of users of these big tech companies have no idea how the information is collected and processed.

“We have to do better as a planet, and we will,” declares Kusama, pointing out that data collection policies have caused social issues for the users, including mental health challenges and online identity theft. “Think of it like this, Not your Keys… not your coins. Not your Shib ID? Not your identity!” he adds, likely alluding to the cold storage wallets released exclusively for the SHIB Army by the Swiss hardware wallet manufacturer Tangem.

How Shiba’s Self-Sovereign Identity Works

SHIB Sovereign Identity allows community members to switch the paradigm from not owning their data to controlling their digital identity and fully leveraging it. To illustrate, digital identity can help several larger-scale problems than just Web3:

  • Prevention of fraud for governmental institutions.
  • Cost savings of small, family-run businesses.
  • Granular governance across Shiba Inu Ecosystem.

Digital identity technology aims to erase identity theft and personal data leaks often seen in Web2 while also restoring the notion of trust in Web3 communities, which were contaminated by bad actors exploiting the vulnerabilities of blockchain technology.

Shytoshi Kusama unveiled that more details surrounding the use cases for SHIB SSI will be given in the upcoming Worldpaper, which “isn’t associated with any token that makes you scan your eyeballs to cash in.” As trusted community developers can use the SHIB SSI to build on, “the possibilities are near endless,” argues Kusama.

When Shiba Inu’s Self-Sovereign Identity Goes Live?

According to the blog post, Shiba Inu’s Self-Sovereign Identity is set to go live in the coming months. Kusama warned that there’s still a lot of work to be done, and this feature is not instantly available. However, he also assured the Shiba Inu crowd that Shibarium, the highly-anticipated Layer-2 scaling solution, “will be out well before then.”

On The Flipside

  • The crypto community is divided into two camps over Know Your Customer (KYC) requirements.
  • Even though KYC helps with regulatory compliance, crypto aficionados argue that KYC goes against the principles of crypto.

Why This Matters

As the new generation of the internet, Web3 revolves around building an infrastructure with digital identity serving as the key element of taking back control of one’s data.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.