Lesswing, LLC

Concerning Digital Assets

Using a Wallet for Identity

I have been working on making blockchain more approachable to consumers and have developed a model using common shopping practices found in bricks-and-mortar stores:

  • Walk into the door with my wallet in my pocket.
  • Look at the items on the shelves and make a selection.
  • Open my wallet to use a card or (believe it or not) pay with cash.

I can repeat the process down an entire block of shops. When online, I can use a payment service (or credit card, yikes!) and only have to supply an address for delivery purposes. The address does not have to be mine, and (many times) I don’t need to create an account with the store first.

If I would model the same transaction using the name/password system we use today, it might look like the following:

  • Walk into the door.
  • Look at the items on the shelves and make a selection.
  • Tell the clerk my name to retrieve my wallet from the back because they store wallets for their customers.
  • The clerk verifies that I know the password before giving me the wallet.
  • Open my wallet to use a card or pay with cash.
  • Return the wallet to the clerk to be returned to the storeroom.

I would probably have dozens of wallets being managed this way. As I get older, I need to remember where I have wallets and their passwords Luckily, each of the branded hardware store locations use the same wallet for me.

Of course, this is a strawman example. In my blockchain research, I started using wallets as a way to identify users because it simplifies commerce and allows me to focus on functionality. I do not really care about who the person behind the mask is, as long as they have the means to execute a transaction.

Presenting a list of wallet suppliers makes the identity process easy for consumers. This approach could be used in a non-blockchain operation as well. That being said, it can also be used for investing. My interest in wallets is for identification purposes.

When developing a business case for the approach, it is important to rely on multiple sources of information. There are more complete identity approaches that include Self-Sovereign Identity (SSI), but I wanted to work with an approach that was less involved so that consumers could get started quickly.


One response to “Using a Wallet for Identity”

  1. Jimmy Dorsey Avatar

    Realtors market and sell parcels that do not belong to them. A wallet that can originate with the parcel we own or lease to live at is the right concept. Our first credential should be tied to the device we own. Our edge devices have the ability to store this wallet in the cache. Those wallets can also store parcel verified credentials and our Self Sovereign Identity. Why would we want the stores to each have a wallet for us? Why would we trust another to curate those connections when we easily have an internet connected computer in our pockets? Isn’t it up to us to curate our Pii and finally own our data? I am fine with the stores curating a record of our interactions with us as they need a record of association. We need voluntary association and self ownership which is achieved through a wallet we keep on a device we own.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.