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

Author

Listed:
  • Daum Kim

    (Keio University)

  • Jiro Kokuryo

    (Keio University)

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.

Suggested Citation

  • Daum Kim & Jiro Kokuryo, 2024. "Establishing altruistic ethics to use technology for Social Welfare—How Japan manages Web3 and self-sovereign identity in local communities," Electronic Markets, Springer;IIM University of St. Gallen, vol. 34(1), pages 1-12, December.
    • Handle: RePEc:spr:elmark:v:34:y:2024:i:1:d:10.1007_s12525-023-00684-x
    DOI: 10.1007/s12525-023-00684-x
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    References listed on IDEAS

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    More about this item

    Keywords

    Self-sovereign identity; Altruistic ethics; Asia; Web3;
    All these keywords.

    JEL classification:

    • B - Schools of Economic Thought and Methodology
    • K - Law and Economics
    • M - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics
    • P - Political Economy and Comparative Economic Systems
    • Z - Other Special Topics

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