ComingChat AMA Transcript (July 28, 2021)
1. What is Comingchat Digital identity？
The traditional definition of digital identity is: digital identity is a way of identity identification,
It is a pair of “keys”, one of which is only known to her / him (i.e. private key) and the other is public (public key).
If the digital identity is compared to a document, the digital certificate is a seal or a signature stamped on the digital identity by the identity authentication authority,
It indicates that the identity authentication authority has recognized the digital identity of the person and endorsed the digital identity of the person.
Our ComingChat seal on this key is: the only number composed of a string of 1 ~ 12 digits belonging to this public key.
2. What are the advantages and values of digital identity in Internet social networking?
Social networking like Wechat uses our real ID card as proof of identity, which will lead to fixed regional population restrictions on products. Wechat is almost limited to Chinese, and the total number of users remains at 1.1 billion.
Digital identity is different from traditional government identity. It is a combination of network and cryptography to produce self verifiable credentials. Unlike traditional ID cards, there are regional/national restrictions.
Where there is a network, you can use digital identity. The network is a wave, and light is also a wave. That is to say, digital identity can be used where there is light. Digital identity will be used as the best identity certificate for aerospace immigrants in the future.
The social advantages and values are shown here, because light has a wide range of regions, not limited to a planet, let alone a country or region,
Then social software based on digital identity can have a wider user group. The most direct example is that digital identity targets 7 billion users in the world, while WeChat targets only 1.4 billion users in China.
3. How can ComingChat users make good use of this digital identity?
CIDs are a good universal identity certificate. Users can have at least five benefits with this identity.
1. Privacy and social networking (you can use the asymmetric attribute of CIDs as the root private key for point-to-point encrypted communication to avoid the exposure of communication information).
2. Digital payment (BTC layer 2 network ChainX / Lightning network can be used for payment).
3. One-click authorization login operation authorizes any asymmetric encryption system application (such as DAPP operating Ethereum).
4. CIDs can be freely programmed (for example, CID based programmable application can be realized on MINIX chain).
5. NFT attribute of CIDs.
4. What is the difference between ComingChat’s CIDs and traditional identity?
Traditional identity has the characteristics of low security and poor interaction.
The traditional identity is KYC based on a symmetric encryption algorithm. The account information (including password) of all users exists in the centralized server. When the centralized server is leaked, the identity and information of all users will be leaked.
It is not possible to use the same global identity management center for all applications. But digital identity,
It is a cryptographic algorithm of asymmetric encryption, with inherent control. The private key is in the hands of the user. The user can choose to authorize any product supporting asymmetric encryption system, and there are more and more products of this kind of account system on the market,until it replaces our previous centralized controlled symmetric encrypted account system products. Why, because we human beings have been striving for equality and freedom. A more free and equal asymmetric encryption system must be the general trend in the future.
5. How to break through the unbreakable line of WeChat’s 1.1 billion user bottleneck when privacy social networking meets digital identity?
Traditional identity accounts have regional restrictions，which is so different from digital identity. Naturally, digital identity faces 7 billion users worldwide, including those who later migrated to other planets. Because the digital identity is transmitted through the network, network transmission between planets is very convenient.
Digital identity has natural conditions to support 7 billion users worldwide, rather than 1.1 billion users limited to Wechat.
6. Under the trend of globalization, will digital identity become available to everyone?
Of course, everyone can use it. As long as you can use the network and asymmetric encryption account, you can have a digital identity.
7. CID NFTs are the carrier of future digital assets. How much value can they bring?
This value lies in the audience of CID users. Facebook / wechat has 1 billion to 2 billion users, with a market value close to a trillion USD
The audience of CID is 7 billion users worldwide, so the ceiling is 7 billion users, and the market value is 70 / 10 times that of Facebook and wechat.
That is, the real-time value of CID depends on the number of users at that time. At present, the number of users remains between 100000 and 1 million, and the market value is relatively small.
