An Ethereum wallet could save you from Facebook

Facebook has been in the media yet again due to the whistleblower who has been pointing out just how harmful its algorithms are for young people and for the stability of democracies. According to Frances Haugen, the company knew for years that it was directing users to harmful content, but did nothing because it might lose them money.

For example if you’ve ever used your Facebook account to log into another service online, you’ve been helping the social network make your online experience more toxic. Similar caution should be applied to signing in with Google or Apple, as your data may be shared with security services.

Coindesk says, “Blockchain developers have long talked about developing “decentralized” identity standards to save us from the dangers of Big Login, and at least one significant step towards that future appears imminent: Sign-in With Ethereum is coming.”

Protect your data

What would this mean for you? The answer is: you use an Ethereum wallet that you own as an identifier across multiple services. The advantage of this is that your name is not attached to your Ethereum wallet. By using a cryptographic marker as an identity means the user, not the identity provider, has total control over what information is associated with it. Coindesk adds, “Eventually, you’ll be able to decide, for instance, whether a particular service needs your name, proof of your age, or a glimpse of your ETH balance.” Finally, you will be able to decide how much information you share with the services you use.

Right now Spruce Systems is working on the design for Sign-in With Ethereum (or SIWE for short) as part of a community-led project. It is holding weekly community calls as it develops the SIWE standard. Information about those calls and how to participate should be coming soon at Login.xyz.

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LendoChain is a DeFi platform offering a suite of crypto-related services https://www.lendochain.com

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LendoChain

LendoChain

LendoChain is a DeFi platform offering a suite of crypto-related services https://www.lendochain.com

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