ENS could be the future of digital identity

The Ethereum Name Service (ENS) is a decentralized, open-source platform that provides a domain name system for the Ethereum blockchain. It aims to make it easier for users to interact with decentralized applications (dapps) by using human-readable domain names, rather than complex and hard-to-remember Ethereum addresses.

ENS is built on top of the Ethereum blockchain and operates as a decentralized autonomous organization (DAO). This means that it is governed by its stakeholders, who have a say in how the platform is run and make decisions through a transparent voting process. The DAO structure of ENS provides a model for decentralized governance that can be applied to other decentralized organizations and platforms. It eliminates the need for a central authority and allows for a more democratic decision-making process, where decisions are made based on consensus among the stakeholders. In addition, the DAO structure of ENS provides transparency and accountability, as all decisions and votes are recorded on the blockchain and can be audited at any time. This reduces the risk of corruption and mismanagement, and helps to ensure that the platform is run in the best interests of its stakeholders.

Ethereum Name Service and its DAO structure serve as a template for decentralized governance. It provides a decentralized, transparent and democratic model for decision-making that can be applied to other decentralized organizations and platforms, helping to promote the growth and adoption of decentralized technology.

We at 22/7 see multiple opportunities to benefit from this technology for example buy continued exposure to ENS’ native token ($ENS) as well as the acquisition of ENS domains in the for of non fungible tokens (NFT) which are likely to have a material value as web3 and dapp adoption grows over time - similar to DNS domains (.com domains) had during the 90ies.