These are my thoughts based on the latest Reddheads Newsletter…
Redd-ID will provide a new way of Identity Proof for the Digital World. A way that is not based on personal Identity Information like passports, fingerprints e.g. but a proof that has some value based on the monetary value of ownership of the identity and the creational value assigned to the identity. A proof that is controlled by the identity owners and not centralized endpoints where you have to register your identity. You can detach your personal identity from your online identity which opens a great new way of using online communication and interaction with trusted identities. Today trust is mainly defined by the natural person behind some online identity but this public and online documented presence leads often to a total loss of privacy. It ignores the fact that an online identity can be trusted without the knowledge of the natural person(s) behind this identity. In this view Redd-ID opens a new way of privacy and trust in the online space. A new concept that has unlimited potential for all of us…
Well, at the moment it’s still a concept, but realistic from a technical standpoint.
What do you think?
ReddcoinRocks It does sound like there will be many possible uses for Redd-ID.
What I’m most excited to see is its integration with the Universal Microtipping Platform. If the devs can make it so that we can tip anyone on any major social network without that person having previously set up a Reddcoin account that would be a game changer.
That sounds to me like the “killer app” that people sometimes say cryptocurrency is waiting for, and Redd-ID would be the engine powering it. Rather than ‘pulling’ adoption Reddcoin would be ‘pushing’ it.
GrayPhoenix Absolutely agree. Allowing people to own reddcoins without them having to do anything or have any prior knowledge will be huge. It’s a little like changetip, but doesn’t actually require trusting changetip in order to work.
Also one other cool thing I just realized as I was thinking… You don’t need to worry about forgetting your Redd-ID password, because your password is always available from your HD seed (I assume), so as long as your seed is safe you’ll always have access to your PW. But maybe you could setup a “friendly password” for your Redd-ID that’s easier to remember.
livefromheaven Since Redd-ID info will be stored on the blockchain I don’t think we’ll even need a separate password.
bigreddmachine Will there be any immediate benefit to linking your social media accounts with your Redd-ID, or is the main purpose to facilitate 1-click tipping once the rest of Social X is ready?