Crypto Altruism Podcast Episode 103 - Metis & Nuvo - Decentralized digital identity and data ownership in a data-driven world
In episode 103, we’re excited to welcome Yuan Su, Founder and CTO of Metis, an Ethereum Smart Layer-2 dedicated to solving the trilemma of security, scalability, and decentralization, and Nuvo, a middleware platform that bridges the gap between Web2 and Web3 development. We discuss how Web3 can enable data privacy and ownership, the exciting potential of a decentralized digital identity, and how it can help the 1B unbanked around the world, and much more!
Three Key Takeaways
Most of our data, including our credentials, are entrusted to centralized third parties. This opens the user up to risks including data breaches which can lead to financial loss and identity theft.
“Not your key, not your coins” is a well known saying in Web3 which should apply to one’s credentials and identity as well. One’s identity should be viewed as an asset, in the same way as a cryptocurrency or NFT, for example, and needs to be safeguarded as such.
Over 1B people lack access to a proof of identity – which can be a huge barrier to social and financial inclusion. Decentralized digital identity can help by giving these individuals a verifiable identity that can be used to access essential financial services.
Follow Yuan, Metis, and Nuvo
Episode Time Stamps
02:40 - What was your “Ah hah” moment that got you excited about cryptocurrency and web3 in the beginning?
04:35 - You are quite the busy person as the Co-Founder and CTO of both Metis and Nuvo! Can you please give listeners an intro to both companies and their missions?
07:20 - How can Web3 reshape how we handle our private data online?
14:05 - Let’s talk decentralized digital identity – can you please give listeners an “Explain-it-like-I’m-5” of what decentralized digital identity is, and why it’s a game changer?
17:55 - What are some of the barriers to developing a decentralized digital identity protocol?
23:50 - There are over 1 billion people around the world who lack access to proof of identity. How can decentralized identity help these individuals and lead to greater financial inclusion?
28:20 - Why should the average internet user care about data sovereignty?
29:15 - What’s the best way for listeners to learn more about NUVO and Metis?
30:30 - To wrap things up, if you could name one thing that excites you most about the social impact potential of web3, what would it be and why?
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DISCLAIMER
While we may discuss specific web3 projects or cryptocurrencies on this podcast, please do not take any of this as investment advice, and please make sure to do your own research on potential investment opportunities, or any opportunity. We host a variety of guests on this podcast with the sole purpose of highlighting the social impact use cases of this technology. That being said, Crypto Altruism does not endorse any of these projects, and we recognize that, since this is an emerging sector, some may be operating in regulatory grey areas, and as such, we cannot confirm their legality in the jurisdictions in which they operate, especially as it pertains to decentralized finance protocols. So, before getting involved with any project, it’s important that you do your own research and confirm the legality of the project. More available HERE.
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