Proof of Ink (POI)
A first of its kind for digital identity in the Web3 space this morning, Parity Technologies, Polkadot’s subsidiary, has released a new method to prove their “digital identity,” known as Proof-of-Ink. It is an algorithmically generated tattoo that serves as digital citizenship proof in the Web3 ecosystem, based on bonding curves. With idiosyncratic patented design, the tattoo will be created using blockchain technology, which is designed to be private and originate with the full responsibility of an individual.
Proof-of-Ink, is expected to be launched in Q4 of 2024 and will facilitate a next-level solution for decentralized and user-centric internet solutions.
Understanding Proof-of-Ink (POI)
A unique identity protection solution that extracts the algorithmically-made tattoos of users when they try to connect their Web3 identities back with Proof of Ink via ERC-721 NFT. By using algorithmically generated tattoos, Proof of Ink is a rather unusual way to verify your identity compared to typical digital identities based on passwords, keys, and biometrics. The intentions behind these tattoos are not professional; they are unique and specific to each bodily form and cannot be used by anyone to access your digital identity.
This could not only help drive transparency but also give the network a better opportunity to operate independently from an opaque mainstream market, Mark Delzer said in an interview with USA Today on Friday (Source: USA Today). These tattoos of sorts—made possible by blockchain-created random numbers—are supposed to be one-of-a-kind for each owner once any actual technology is integrated, driving privacy and security deep into digital territory. It is a type of tattoo that is placed on the same specific part of the body for all users, along with providing additional security over verifying identity.
To sum-up another step of verification, the user must upload a video showing each tattoo artist completing the last three minutes of his/her work. This video will become the actual proof of this individual’s identity on Web3, which will make the process secure and trustless.
Operation: How Does Proof-of-Ink Work?
The concept behind Proof-of-Ink is as simple as it is revolutionary. This solely unique tattoo is designed by a complex algorithm for every user. This tattoo is a identification, but it can be used to validate your identity across a multitude of different decentralized platforms. Launched in July, the app requires users to upload a three-minute video on their profile of the final part of their tattoo application process.
This video is regarded as a proof of identity, which will be stored securely on the blockchain and cannot be altered.
Why Tattoos?
Going for the permanence and uniqueness afforded by tattoos as a medium through which to host your digital identity. A tattoo is something that can never be duplicated; it becomes a permanent part of their body and cannot easily be copied or smuggled from the owner.
This permanency makes it a good pairing with the unique nature of blockchain technology—once records have been added, they can no longer be changed. To get the point that, in doing so, they represent a safe and permanent digital identity.
Launching Time of Proof-of-Ink and Community Engagement
Proof of Ink is expected to make its debut during the fourth quarter of 2024. Parity Technologies has been actively talking to the community in anticipation of the launch date and any possible issues that you might have with this brand new ID verification method.
In order to lower the barrier of entry and collusion, users will be required to pay a small fee in DOT tokens or comp vouchers redeemed by other community-share voucher holders.
Gavin Wood: The Originator of Proof-of-Ink
Gavin Wood is a British computer scientist and co-founder of the blockchain platform Ethereum. As a co-founder of Ethereum, Wood wrote the Ethereum Yellow Paper and built Solidity, a programming language for writing smart contracts on top of Ethereum.
After a while, he also founded Parity Technologies, which developed the Polkadot network, a blockchain platform designed for integrating and connecting multi-chain blockchains. Gavin also helped to formalize the Web3 Foundation to bring up Open Web Technologies (OWT). His contributions are literally changing the course of blockchain and decentralized systems. That’s why he is a person with real, significant impact in the modern tech world.
Recently, Gavin has implemented a new identity verification solution for WEB3 industries using `Proof-of-INK` to reinforce the security of blockchain protocols.
Why Proof of Ink Matters?
Web3 is what makes a web focus on privacy and security by developing a decentralization system from large groups of nodes to the end-user, which is human oriented. Traditional digital identity isn’t private, which means, your privacy can be compromised, and yes, they can track you down in case of anything because no one wants to lose their money or assets. Proof of Ink solves this problem by providing a privacy-preserving method for on-chain identity verification that allows users to engage with Web3 without the guilt and fear of disclosing their spending habits.
Gavin Wood on a scheme to allow proofs of identity that prove the individual is who they claim and verifiable by others without revealing personal information. It furthers Web3’s wider ideal of giving people full control and ownership over their own digital identity.
The Road Ahead: The Future of Digital Identity in Web3
The uplift of Proof-of-Ink is important to the development of digital or virtual identities. Moving beyond normal forms of identity verification and leveraging the immutability and singularity of tattoos, Gavin Wood and Polkadot’s Parity Technologies are laying out a more secure and private Web3. With the development of a fully decentralized internet, services like Proof of Ink will be even more important in ensuring data sovereignty and user self-determination over personal virtual identities.
Due to the world changing to Web3, it is important that we have solutions like proof of ink, which will make sure all transactions are smooth and secure and, in essence, highlight everything we love about Web 1.0—privacy with decentralization.
The advent of this technology is a huge step in the world of digital identity and represents an unprecedented coming together around privacy, security, and user control that could feature as a new best practice in financial services.
