The digital space — the internet, social networks, websites, and more — is becoming an integral part of social life, to which people devote not only their time but also their personal data. Despite the fact that the virtual space is generally considered a safe environment, the risks of losing data due to dependence on intermediaries and the lack of control over one’s own identity are increasing every day.
One of the possible solutions to this problem is proposed by Ukrainian attorney Oleksandr Tuholukov. In co-authorship with other researchers in the digital field, he wrote a scholarly article entitled “Self-sovereign identity as the basis for digital asset management in the Web3 environment” (Ukrainian:
“Samostiina suverenna identychnist yak osnova upravlinniatsyfrovymy aktyvamy v seredovyshchi Web3”), in which he proposes the Web3 environment as an alternative to the traditional Web2 model, clearly outlining the advantages and disadvantages of each system and drawing attention to the prospects for the further development of the Web3 space.
The article was published in the peer-reviewed academic journal “Financial and Credit Activity: Problems of Theory and Practice” in 2025. DOI: 10.5281/ZENODO.17532852
Who is Oleksandr Tuholukov
Oleksandr Tuholukov is a Ukrainian attorney with many years of international practice who specializes in legal support for business and the regulation of digital assets. Since 2022, he has been responsible for the strategic development of the Public Association of Virtual Asset Market Participants.
At the center of his professional and academic interests are modern legislation, the digital economy, blockchain technologies, and issues of digital inheritance. Oleksandr combines traditional law with innovative approaches to the management of virtual property and has participated in the formation of Ukraine’s regulatory framework in the field of digital assets.
While working in the U.S. market, he initiated the LegacyVault project — a solution for the secure storage and transfer of digital assets and legally significant documents.
Oleksandr Tuholukov is the author of a number of academic and practice-oriented works in the field of digital inheritance and virtual asset management. Among them are leading academic articles and practically significant publications in which the attorney proposes innovative solutions to problems of digital inheritance. He participated in the authorship of such articles as “Modeling Digital Asset Inheritance Processes Using Blockchain Technologies”, “Information Technologies in the Creation of ‘Digital Safes’ for the Storage of Inherited Assets”, and others.
The Article “Self-Sovereign Identity as the Basis for Digital Asset Management in the Web3 Environment”
The article has attracted the attention of specialists in the field of digital identity and virtual asset management and is used as an analytical foundation for further research and professional discussions within the Web3 domain.
Due to the growing risks of losing personal data, the digital sphere may appear somewhat impractical — which, in the context of today’s reality, where a very large number of assets are stored in digital form, constitutes a significant problem. This is precisely why there is a need for research and proposals aimed at resolving this debatable issue.
Oleksandr Tuholukov took the initiative by creating, together with his colleagues, a scholarly article devoted to a comparative analysis of the Web2 and Web3 environments. Particular attention is paid to outlining the strengths of the Web3 system, which, in Oleksandr’s expert opinion, may become the key to addressing the problem of digital environment security.
The Idea of the Article
In the article, Oleksandr Tuholukov emphasizes the importance of self-sovereign identity (SSI) as a key tool for secure digital asset management and for building trust within the Web3 ecosystem. He proposes an integrated legal and technical approach that makes it possible to minimize the risks of data breaches, reduce the involvement of intermediaries in data storage, and guarantee user autonomy.
Issues Addressed in the Article
Oleksandr Tuholukov focuses on the key problems created by modern models of digital identification:
• users’ dependence on large providers;
• risks of personal data breaches;
• inability to selectively disclose data;
• lack of effective legal regulation in the context of emerging technologies.
As a solution, Oleksandr proposes the implementation of the SSI model, which would enable the creation of secure and transparent digital services that place the user at the center of the process and form a new “architecture of trust” for Web3 projects (DAO, DeFi, NFT).
The Role of Oleksandr Tuholukov in the Work on the Article “Self-Sovereign Identity as the Basis for Digital Asset Management in the Web3 Environment”
As a practicing attorney, Oleksandr Tuholukov developed a personal interest in the issue of digital asset management, as he had repeatedly encountered such assets in his professional practice. His hands-on experience became the impetus for co-authoring the scholarly article “Self-Sovereign Identity as the Basis for Digital Asset Management in the Web3 Environment”.
Oleksandr Tuholukov’s contribution to the research lies in shaping a legal vision of self-sovereign identity as a tool for managing digital assets. His practical experience working with digital assets made it possible to combine theoretical provisions with real-world scenarios for the use of Web3 solutions, which significantly increases the applied value of the study.
The approaches proposed in the article are based on the analysis of real cases and the author’s professional observations, which distinguishes this work from purely conceptual publications in the field of digital identity.
The foundation of the study is Oleksandr’s professional experience in the fields of legal and financial technologies, his observations, and real-life cases from practice. Precisely for this reason, the article is recognized as practically significant, as the researcher not only outlines the problem but also proposes solutions that not only comply with the principles of the SSI model but are also relevant to current conditions of digital space usage.
The publication of this scholarly work and its subsequent coverage in the media confirm the public presentation of Oleksandr Tuholukov’s authorship in the field of research on digital assets and self-sovereign identity.
Oleksandr Tuholukov’s Personal Perspective on the Issue of Digital Asset Management in the Web3 Environment
The mass transition to digital services has caused numerous changes in Oleksandr Tuholukov’s legal practice. In the process of adapting to new working standards, he encountered a significant number of challenges, one of which was precisely the issue of digital asset management.
His professional perspective is focused on the principles of security and autonomy for all users. This is why he advocates for the development of Web3 in order to ensure that digital asset management systems become safer and more convenient for users.
In addition, as a practicing attorney, he emphasizes the need to adapt existing legislation, in particular by introducing clear definitions of “self-sovereign identity” and “decentralized identifier” in order to grant these terms legal status and to align legal provisions with the principles of the SSI model he proposes.
The Significance of Oleksandr Tuholukov’s Work and the Article
“Self-Sovereign Identity as the Basis for Digital Asset Management in the Web3 Environment”
Thanks to Oleksandr Tuholukov’s personal experience, the article “Self-Sovereign Identity as the Basis for Digital Asset Management in the Web3 Environment” represents a practically valuable contribution to the fields of digital technologies and law. In this work, the attorney not only outlines the problems of the modern Web2 environment but also proposes concrete paths for the further development and improvement of the digital sphere.
The article “Self-Sovereign Identity as the Basis for Digital Asset Management in the Web3 Environment” is recognized as academically valuable and practically significant. Its provisions are cited in academic and analytical works devoted to issues of digital identity and the regulation of the Web3 environment, and the proposed approach is used as a foundation for further research in the field of digital asset management.
Tuholukov’s work demonstrates that the combination of cryptographic technologies, decentralized identifiers, and legal initiatives creates a reliable foundation for the development of a secure, efficient, and legally regulated digital environment of the future. This, in turn, is important both for the academic community and for further research, as well as for ordinary users who entrust their data to various virtual services on a daily basis.
