I have previously written about the first part of DID, and in this article, I will talk about my personal thoughts and attempts in this field, focusing on two questions: "Who are you?" and "What value do you have?". I hope to stimulate more discussions with friends who are interested in this field. (Original article mirror link: https://mirror.xyz/arthurwu.eth/NILF6RYc3CcmaJ5zyGuycO0HhKVe2HtqYBwVY7Ln8vs)
Who are you? & What value do you have?#
Who are you?#
Is there a product that can provide users with a preliminary understanding of each other's profiles when User A sees User B? Previously, it would take about 1 hour of in-depth communication to know who the other person is, but with this product, we can compress the time to 30 minutes or even 10 minutes?
Some may say that this is just an "online resume", and to some extent, I agree. An "online resume" can partially reflect who a person is, but it mainly focuses on the "work" aspect, and does not reflect other aspects of life, entertainment, thoughts, etc. The phrase "Who are you?" should represent a more comprehensive and multidimensional profile of a person.
From this description, you may associate it with the "user data profile" in Web2 applications. It is a digital version of you that exists in the Web2 network. In the Web3 context, we also need such a profile. So, what are the differences between the two? I think there are two main differences:
- Uniformity: The user data profile in Web2 is completely tied to the app. For the same person, the profiles presented by different apps are completely different. However, in the Web3 field, we can have a universal profile token that is applicable across the entire network.
- Visibility: The user data profile in Web2 is solely used by the platform and is not exposed to the public. However, in the Web3 field, this profile can become a visible part of the user token and is fully owned by the user.
Therefore, we need a unified and visible user profile with rich data labels to prove "who you are" in the Web3 context.
What value do you have?#
We often refer to Web3 as a "value network" because it eliminates intermediaries and various constraints, allowing users to regain a dominant position in this network.
So, what is the value of a user in this context?
Is there a product that allows users to be valuable without relying on media apps (e.g., Weibo, Twitter) as intermediaries, fully leveraging their personal capabilities? When we need to find a specific user, we can inquire about this product, and it can directly list the corresponding authentic and effective results, or even facilitate C2C transactions.
From this description, you may associate it with the concept of "being an expert" in Web2 applications. Users directly state their value on the app and connect with others through the app. In the Web3 context, we remove the intermediary app and users no longer need to explicitly state their value. Instead, the market supply and demand determine the value, but we can still achieve the same or even better results.
How to implement?#
To achieve the above two points, we may still need a high-traffic product to generate a massive amount of data, which can then transition to the "data layer" -> "profile layer" -> "value layer" chain.
In terms of implementation paths, there are likely two options. One is to transition from Web2, and the other is to start from Web3. Let's discuss the scenarios for each approach.
Transition from Web2#
In the Web3 context, given the current infrastructure and market environment, it is difficult to create a high-traffic product that can rival Web2, except for products with a CX factor. Therefore, products choosing this path will likely follow the logic of Web2, using Web3 as a "tool" and incorporating some of its unique advantages, such as decentralization and crypto payments.
This path is more suitable for teams transitioning from Web2 to the Web3 market. They have rich Web2 experience and a well-established Web2 team strategy. From a startup perspective, the cost of trial and error is relatively low. In terms of results, it is possible to create a high-traffic product. In terms of selection, it should be more of an intermediate product that combines the advantages of both Web2 and Web3.
Once this path is chosen, the next question to consider is: How to create a future high-traffic product? This has been discussed in detail in a previous article about "startups", covering aspects such as "team" -> "choice of field" -> "users" -> "scenarios".
Starting from Web3#
If we want to create a pure Web3 product, based on the current preferences of Web3 users, the path of platforms like Galxe/Cyberconnect may be more reasonable. It satisfies the demands of a large number of users who want to earn rewards, while also meeting the needs of project owners who require a certain number of users. From a product perspective, as an intermediary, it caters well to the user population of the two-sided market.
There are two main points to consider:
- First: Task platforms do not have a moat from a product/technology perspective. The timing of entering this market becomes a crucial factor. Galxe is a good example, as it chose the right timing and, with the help of this task platform, accumulated user data and brand effects (at least for Web3 project owners, Galxe is an unavoidable platform if they want to create tasks).
- Second: How to transition from simple tasks to the data layer, which can create a moat. However, there is a challenge because the platform primarily targets users who want to earn rewards, which may lead to some data distortion and ultimately affect the rendering of the overall "profile" (PS: From my personal perspective, this is currently unsolvable in the short term. If the platform does not serve these reward-seeking users well from the beginning, the product may not survive).
Conclusion#
This article does not discuss detailed execution details but focuses more on the solutions to the questions of "Who are you?" and "What value do you have?". It especially considers the landing scenarios in the Web2 and Web3 systems, which require project owners to consider their specific business and target audience.
In the current Web3 market, "DID" does not have an official definition yet. From my perspective, if the above two points can be addressed, it would be a new application scenario for DID. It would cover a broader scope than some projects claiming to be DID, and it would truly externalize the value of users and generate actual transaction value.