The Web3 ID Coalition has officially formed as a nonprofit organisation advocating identity ownership for all to inform government policy.
The member-based alliance operates several functions to promote, advocate, program and research Web3 to rally government for changes to federal policy governing blockchain and secured digital identities.
The Web3 ID Coalition shares a similar vision to the Web3 Domain Alliance – launched in 2021 – to ensure users have ownership over the use of their digital identities on an advanced version of the internet, which enables next-gen digital capabilities such as crypto and tokenised transactions.
In a mission statement, Sena Loyd, President of the Web3 ID Coalition, stated:
“We envision a future in which individuals have control over their digital identities, empowering them to choose which personal data they want to share, monetise or keep private, for greater economic opportunity, freedom and security for all.
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 catalyse a movement toward personal data ownership.”
Key activities of the alliance will focus on developing technical standards around the use of digital Identities and nurturing collaborative partnerships between the public and private sectors to manage the boundless cyberspace that is Web 3.0.
The coalition monitors what frameworks and government-level management is needed to oversee Web 3.0 as it explodes into view as the next-generation unending cyber domain. Members are established identity companies among the ecosystem that currently include Identity.com, Unum ID, Blockchains, Inc., Genubank and Solutions at Work.