ERC 725, an answer to the identification problem
ERC 725, an answer to the identification problem

ERC 725, an answer to the identification problem

By Fabio Lugano - 13 Aug 2018

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Fabian Vogelsteller is the creator of the famous ERC20 protocol behind the ICO phenomenon.

Fabian is now addressing the issue of personal identities within decentralized DApps that need to certify user identities, such as for travel reservation services or decentralized exchanges, and is doing so by proposing a new type of protocol: ERC725.

At present, DApps rely on centralized services for the identification of its users.

The alternative could be to integrate already prepared ad hoc platforms such as Oracle’s Chainlink, but this would end up being expensive and very difficult.

As Vogelsteller points out on Github, ERC725 allows standardizing all identification procedures that are carried out in different ways.

This automates and standardizes data collection and the DApp’s monitoring ability.

The certification of data takes place through a specific identity contract issued each time someone is registered. It is verified with a signature sent by email or phone.

Whenever a user accesses a DApp that requires an identity check, they should provide the public key, this way the Dapp can easily verify the validity of the identity contract.

Several projects are already interested in the use of this type of token, the practical validity of which increases with the increase in popularity.

If a large platform, such as a postal service, were to implement it, it would be possible to achieve a truly widespread application that would be cross-referenced with the real verification of the addresses.

Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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