News
Polkadot creator Gavin Wood reveals a crucial blockchain use case
- Polkadot creator Gavin Wood recently highlighted the importance of integrating proof of personality into blockchain technology.
- He also suggested that this mechanism for digitally verifying an individual’s humanity could be the breakthrough for mass adoption.
Polkadot, the interoperability blockchain platform, has been exploring new ways to drive market adoption. In the latest development, Polkadot creator Gavin Wood shares an interesting use case that would be crucial for the mass adoption of the blockchain platform.
In a recent interview on macroguru Raoul Pal’s podcast, Polkadot creator Gavin Wood suggests that personality proof – a mechanism for digitally verifying an individual’s humanity – could be the breakthrough blockchain application that drives widespread adoption.
Gavin Wood has articulated a crucial observation regarding the current limitations of technology. Reflecting on the past few years, Wood noted that while blockchains have excelled at managing the scale of value, primarily in terms of money, they have yet to master the concept of personhood, which is an integral part of everyday life.
In his commentary, Wood emphasized that personality recognition is a fundamental aspect of modern society, especially in Western cultures. She illustrated this by explaining how purchasing high-value items, such as computer equipment over $1,000, often requires personality verification.
This verification process is so ingrained in everyday transactions that it often goes unnoticed, but remains essential. Wood’s insights highlight the need for blockchain technology to evolve beyond financial applications and address broader social needs.
Highlight evidence of personality
Blockchain pioneer Gavin Wood recently highlighted the critical need to integrate proof of personhood into blockchain technology, reflecting on its pervasive role in Western society. He cautioned against relying on governments to determine who is or is not a person.
“We do it naturally, [we]expect to be able to see a face and many transactions rely on this. Much of our social fabric is based on [proof of personhood]that needs to be part of blockchain before blockchain becomes a major part of society,” Wood explained.
He highlighted the challenge of implementing personality proof without government intervention, criticizing approaches such as Worldcoin and KYC (know your customer) for their over-reliance on centralized authorities.
“In general, I wouldn’t rely on any government provision to power the blockchain and that has to stay at a pretty low level for it to be useful, so we need to find much more creative means of building personality into the blockchain,” Wood concluded, urging the blockchain community to explore innovative solutions to this critical question.
As of this writing, Polkadot’s native cryptocurrency, DOT, is trading at $6.99 with a market capitalization of $10 billion. AS reported by Crypto News Flashif the DOT price manages to rise above $7.4, it can approach higher levels of $10 and above.