| This article avoids the elephant in the room: nobody except cryptocurrency nuts asked for this. The “Decentralised” part of DID should give a hint that this is yet another attempt to make crypto relevant to the real world outside of bypassing sanctions, paying for drugs, or extorting hacking victims. Web 3.0 failed because cryptocurrencies can’t support the high bandwidth and low latency required. So the same people came up with DID, which can tolerate multi-hour transaction delays and storage capacities measured in single-digit kilobytes. Most of the criticisms against Web 3.0 still apply to DID. It can be impossible to revoke, as the article stated. Which means if grandma’s wallet is hacked, she can be impersonated forever by the hacker, and not even the government can help her with this. “Yay, censorship resistant!” many will proclaim. (Loudly) Okay, name me one instance (1) where a citizen of a western country had their identity censored in any sense by their government. |
Eugene Shvidler‘s sanctioning by the UK poisoned his identity. A UK-US dual citizen living in Britain who had Russian business dealings.
The sanctions are devastating to personal freedom. Beyond the direct financial impact, they make it very difficult to travel, engage in charity or use digital goods.
You might argue he deserved it for making money in Russia, but the lack of due process is astounding.
His commercial behaviour predates any legal prohibition and he didn’t get to argue his case in front of a judge/jury before a punishment was installed.
https://www.theguardian.com/law/2023/jul/19/sanctions-regime...