Establishing altruistic ethics to use technology for Social Welfare—How Japan manages Web3 and self-sovereign identity in local communities

Daum Kim () and Jiro Kokuryo ()
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Daum Kim: Keio University
Jiro Kokuryo: Keio University

Electronic Markets, 2024, vol. 34, issue 1, No 7, 12 pages

Abstract: Abstract Technologies of self-sovereign identity (SSI) and Web3 tools that strongly protect individual autonomy, combined with the ethics of Asian altruism, can effectively guide the governance of the emerging cyber civilization. In contrast, governance in Western industrial civilization stresses the pursuit of individual self-interest and struggles to balance the benefits of big tech with the protection of individual dignity and the preservation of the common good. We demonstrate, with reference to a local community in Japan, that SSI is successful in encouraging communal collaboration and well-being while providing individuals with greater control over their personal data. We also show that Web3 tools provide incentives for altruistic behaviors while safeguarding SSI. Integration of SSI and social protection demonstrates the potential for building an information society grounded in altruistic values, honoring individual dignity, and recognizing the government’s role in protecting social welfare. Ultimately, this research unveils how altruistic values can be fostered through SSI and Web3.

Keywords: Self-sovereign identity; Altruistic ethics; Asia; Web3 (search for similar items in EconPapers)
JEL-codes: B K M P Z (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s12525-023-00684-x

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