Identity is Fundamental , Credit is the Pass

Identity is fundamental, and without it you cannot have the currency that runs this world. It’s important to remember these truths about identity as cryptocurrencies continue their surge in popularity and utility. Passwords are simply not enough when your life depends on the idea of a stable credit score or digital wallet.

Identity is the most fundamental thing in our lives. It is what separates us from other people and gives us a sense of self-worth. Credit is the pass that allows us to access all the things we need, but it can also be used as a weapon to take away everything we have.


China’s Hong Kong on January 14, 2022 Chainwire

In addition to being the foundation of the market economy, credit has permeated every aspect of society and has evolved into the primary instrument for policing the behavior of social entities.

Second ID of the Credit-Individual

In order to represent personal identify information in social settings, such as name, gender, nationality, place of residence, and family structure, individuals require an identity certificate. These physical attributes that identify a person are their defining characteristics. After the government or centralized agency verifies the identity information, it can satisfy basic social needs like household registration, school registration, driver’s license application, visa application for travel abroad, bank account opening, loan application, credit record inquiries, etc. These are manifestations of identity credit made up of various needs of various centralized institutions for identity information in various application scenarios. The vehicle management offices or DMV record vehicle information records, including driver’s license types, violation information records, etc. Visas and bank account opening require various asset certificates and bills. records advanced information records in China, and European and American countries will use WES for authentication. A person’s address, social information history, criminal history, credit history, etc.

In the aforementioned scenes, identity serves as the foundation for life scenes’ identification, and credit serves as a pass that is active in many scenes. Since it is a fundamental component of human values, being honest is seen as a virtue and a duty in both social and commercial contexts. Credit is often seen as being just as significant as a person. A “second ID card” is what personal credit is like. If a person engages in illegal activities like fraud, debt avoidance, or the production of subpar goods, these negative records will always be inscribed on their label. It is also challenging to integrate into society. Credit is the cornerstone of social life and a status symbol of a person’s ability to function in society, whether they are an individual, business, government, or big nation.

In the conventional world, banks are the most significant credit rating agency in the economy and society. The new Basel Agreement has further confirmed and increased the significance of bank ratings by proposing to utilize external ratings to assess bank risk assets. Credit risk, market risk, and other hazards are all aspects of the risk of evaluating banks. Credit risk is not only a crucial factor for banks to take into account when evaluating consumer credit scores; it also forms the basis of how banks are managed and graded as a centralized organization. Banks often serve as financial intermediates in the old world, but in the information era, they have transformed into information intermediaries, serving as a source of fundamental identification and credit data for other societal purposes. As the Internet age and Alibaba’s rise coincided, With the aid of cloud computing, machine learning, and other technological advancements, Sesame Credit has fostered the growth of the Internet credit system and gradually created an existence like to a “online bank.” As a result, it has become an impartial third-party credit agency. In many situations, including consumer finance, financial leasing, hotels, renting, travel, marriage and love, classified information, student services, and public utility services, technology has supplied credit services for consumers and merchants. Five latitudes of customer credit history, behavioral preferences, performance capabilities, identification qualities, and personal connections are included in its assessment criteria. It also establishes data collaboration with governmental agencies and other partners. In contrast to standard credit data, Sesame Credit also includes a number of application scenarios that capture the traits of personal identification information, such as credit card payback, online shopping, paying for utilities like water and electricity, and maintaining social connections.

the development of the metaverse credit system in the Web 3.0 era

We can assess individuals and assist businesses in categorizing people to provide better services by analyzing a sizable quantity of online transaction and activity data. The ease offered by electronic identification and credit, which have become a part of the Web 2.0 age, is also appreciated by users. Sign. 

The creator of MetaVisa, Jassem Osseiran, who is also an entrepreneur and financial services adviser, believes that in Web3.0, Internet users need an Internet identify that can be connected to any software and real-world situations. Information may also be maintained on the blockchain network to prevent tampering, confirm individual accomplishments, and provide time-stamped, perpetual legitimacy of assets, interests, actions, etc.

People merely need to digest information in the Web 1.0 era; participation is not required. Web2.0 now functions as a two-way Internet. Information and material may be published using “temporary” personal network files, which has higher interaction and necessitates more audience engagement. The network has expanded and gotten more abstract. By Web3.0, decentralized identification is not a passing fad. Online permanent identities may be created and maintained by individuals. Online content will always connect back to the author. These open historical documents demonstrate the reality of a certain setting and period. It demands greater audience engagement and is more abstract. We must safeguard our wallets, private keys, assets, and application use in various circumstances.

According to Jassem, Web3.0 should support data and material that is granular and composable, and it calls for a larger audience to take part in the abstract development. Our earlier remarks were comprehensive and concrete. Applications hold all users, content, data, and thermal media. Each application is a separate, often fragmented island of information. Separate apps are needed for access processes between applications. Completeness is defined in tangible terms, yet there is little audience interaction. Content and data should be organized in an open area for Web 3.0. Applications may be customized at the application level, and permissions can be mixed. Any program may connect with another to create a cold medium. You have complete creative freedom. Everybody is correct. Different meanings of the presentation of the same material are possible. This is also the feat that MetaVisa hopes to make in the future.

The foundation of Web3.0 is the idea that each user has a distinct and enduring online identity. Everyone has a distinctive, open, and accessible past as part of a decentralized identity. On the chain, the actions and accomplishments of the physical world can be seen, and people’s creations, contributions, possessions, and collections on the Internet also provide insight into their tastes, experiences, and accomplishments. In the physical world, people will be closer to the operation, but in the network world, they may utilize it as they choose and are all connected to one another rather than the platform. Decentralized identity may be utilized as the foundation for implementing network native credit scoring, and the credit value on the chain will be more careful and stringent since it will effect your future credit mark. This capability extends to different sectors and application situations. In addition to being the basis for online reputation, it is compelled to carry people’s online identities and personalities.

The creation of a credit system is also required, driven by the growth of a decentralized identity. By analyzing blockchain data, MetaVisa, the intermediate layer protocol of Layer-3, which was established by Jassem Osseiran and Silent Unicorn, a technological advising business, aids users in creating and displaying trustworthy identification and credit records on the chain. Five latitudes of credit history, asset portfolio, on-chain behavior preferences, wallet address activity level, and address relevance have been constructed using blockchain data, cloud computing, machine learning technology, and model algorithms like decision trees and random forests. MetaVisa Credit Score, a credit scoring system (MCS). 

In terms of asset portfolio, an address should have a better credit rating the more assets it owns. As a result, asset holdings should be a significant influence in the credit sub-system. Tokens in an address account may be of multiple ERC standards and varieties, and their quantity and value may fluctuate over time.

The relationship between the account address and various chain apps may indicate the account’s preferences and interests, and it may also serve as the foundation for determining the account address’s credit score. Take into account the two presently very active sub-fields of DeFi and NFT, and measure how users interact with these two sub-fields on-chain.

Deposit, Borrow, Swap, and Liquidity Pool Position in DeFi relate to all four interactive behaviors and may indicate the user’s entire asset value TVL (Total Value Locked) on the DeFi platform. The user’s level of activity on the DeFi platform may be shown in TXN (deposit and withdraw corresponding to deposit, borrow and repay corresponding to borrow, rise and decrease corresponding to swap and liquidity pool position). The total asset value and activity level in the exponential moving average approach both take into consideration the time impact, just as the aforementioned “address activity level” and “holding assets” do. The value of the account address in the DeFi field is obtained by adding the two weighted sums together. participation level.

The total value of the NFT assets owned by the account address may be determined in the NFT field by adding up the value of each NFT asset held by the account address (based on the most recent transaction price). It is possible to gauge how engaged a user is on the NFT platform by counting the aforementioned interactive activities. “Holding assets” and the aforementioned “address activity level” are comparable. The exponential moving average approach accounts for the time impact in both the total value of NFT assets and the activity level; the two are weighted and summed to determine the account address’s involvement in the NFT field.

In order to determine an address’s active level, the number of successful TXNs is used. It makes sense that the address should be more active the closer the computation time point is and the greater the frequency of TXN. An exponential moving average approach is used to assess an address’s activity based on this theory.

To make the credit rating system better, several factors must be taken into account. In the actual world, in Sweden, if a mobile phone bill is past due and has not been paid after two attempts, it will be switched off and you will be sent court posters. Your identity will also be kept on file. In the future, you may not be able to apply for any mobile phone networks. Loans will also become difficult; in Finland, consciously buying tickets, but if someone spot checks and finds evasion, they will be blacklisted, which will have a great impact on personal life and work in the future; in the Nordic region, once a company appears Bad credit records, these untrustworthy information will be disseminated in the society, from the dishonest person’s dishonesty to the transaction party to the dishonesty of the whole society; once German companies and individuals have dishonest behavior, the bank will not grant loans, and individuals are not allowed to go abroad. Everyone will handle their credit more carefully if the chain of these social actions’ effects on it is understood. This is because having excellent credit offers unparalleled ease and favorable treatment.

The holdings of assets, asset categories, active frequencies, product trends, etc. of addresses are the most standardized data sources in terms of the present meta-universe or blockchain credit system technology. The greatest problem right now is figuring out how to tie off-chain experience to on-chain data to create personal identification information and credit labels. This is also a crucial introduction to the actual implementation of decentralized identities, such as successes, creative contributions, academic credentials, etc. And many businesses are now addressing this problem. 0xStation enables users to record their professional accomplishments on the chain, Violet is dedicated to confirming personal identification information off-chain on the chain, Koodos supports a range of on-chain partnerships, and it can turn any Internet material into a customisable NFT. These precise data may be utilized by MetaVisa or any other company creating identity credit systems as a data source. They may be recognized and given personal, unique credit badges by categorizing this data. These badges may not only be used to supplement the information on the chain, but they also serve as a significant credit signal in the metauniverse.

A full information system is required to make reading and evaluating data easier, in addition to gathering, acquiring, and organizing metadata. Decentralized identities’ mainstream adoption is also severely hindered by the data model and goodwill management rules. The realization of Web3.0 and the meta-universe system are fundamentally supported by the subjective and complex background information underlying the identity, objective credit evaluation, information data security protection, access to credit information sources on the chain, and the varied data requirements of the credit system.

Visit learn more, go to MetaVisa:

Web address:

Twitter: MetaVisa

Metavisa Official on Medium: for the community in English.


Identity is Fundamental , Credit is the Pass. Identity is the set of characteristics that define who you are, and it’s an important part of your life. As a society, we have come to rely on our credit cards as a way to prove our identity. Reference: sie exam.

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