ERC-7231 Emerges as Catalyst for User-Owned Data and Digital Identity Revolution

CARV announces the final approval of ERC-7231, an Ethereum standard establishing data self-sovereignty for users. ERC-7231 empowers individuals to possess, manage, and contribute their data to AI systems and data consumers, promoting equitable value sharing. The protocol integrates multiple digital identities into a single NFT, allowing users to own their online history across platforms.

ERC-7231: Dawn of User-Owned Data and Digital Identity

Santa Clara, US, March 28th, 2024, Chainwire

The Ethereum community has unanimously approved ERC-7231, a groundbreaking protocol that empowers users with unparalleled control over their digital identities and data. This milestone marks a pivotal shift towards a decentralized and equitable internet where individuals truly own their online presence.

Revolutionizing Data Ownership

ERC-7231 establishes a novel system of data self-sovereignty, enabling users to possess, manage, and leverage their information across AI systems and data consumers. This paradigm shift empowers individuals to claim ownership and share in the value generated from their data, fostering a just and mutually beneficial digital ecosystem.

Bridging Digital Identities

ERC-7231 seamlessly merges multiple Web2 and Web3 identities into a single non-fungible token (NFT). This consolidated "identity of identities" allows for encrypted aggregation of multi-domain identity data, providing a comprehensive and verifiable representation of an individual's online history, relationships, and experiences.

Empowering Users

This transformative protocol delivers three key advantages:

1. Simplified User Experience: Integration with account abstraction wallets streamlines Web2 and Web3 onboarding, making data sharing both accessible and convenient.
2. Enhanced Interoperability: Uniting multiple identities under one banner enables greater compatibility between disparate platforms and services, creating a more seamless and cohesive digital experience.
3. Unprecedented Data Control: Users exercise absolute authority over their data, determining how it is used and shared. By opting to share their data, individuals can passively earn from companies that leverage their on-chain and off-chain identity information.

CARV ID: A Case Study in Empowerment

CARV ID, a product built upon the ERC-7231 standard, empowers users to effortlessly manage their digital presence across the gaming universe. With over 900,000 active users, CARV ID enables gamers to earn rewards and access exclusive content while maintaining control over their data.

Unlocking Value for Creators and Consumers

ERC-7231 unlocks substantial value for gaming and AI developers. By leveraging zero- and first-party data aggregated through ERC-7231, companies can create tailored experiences that resonate deeply with users. This data also empowers them to make informed decisions, such as identifying high-value gamers or optimizing user acquisition campaigns.

A New Era of Identity-Aggregated NFTs

CARV Co-Founder Victor Yu proclaims, "ERC-7231 is the key to stringing everything together." By welcoming all user identity solutions to adopt this standard, we envision an era where identity-aggregated NFTs become the norm, empowering users to own their data and participate equitably in the value chain of the digital age.

About CARV

CARV is the world's leading modular data layer for gaming and AI. Its comprehensive ecosystem includes CARV Protocol, integrated with over 40 chain ecosystems, and CARV Play, its flagship gaming superapp. With over 2.5 million registered users and 700 integrated games, CARV empowers individuals to own, control, and monetize their data while providing gaming and AI developers with high-quality and compliant data.

Contact Information:

Cofounder & COO
Victor Y.
CARV
vito@carv.io

Disclaimer:

This article contains sponsored content. Readers are advised to conduct thorough research before making any decisions related to the products or services mentioned.