Verifiable Credentials, Decentralized Identity & Self Sovereign Identity

The moment a child opens his eyes to the world, their brain starts recording all the visual data they come across in the form of a data model and start assigning them identity. This is Mother, Father, or a friend or competition :)

Salient Features

  • Users to create & manage their own identity (DIDs) which is cryptographically secured. They can create multiple DIDs such as one did for each relationship/connection.
  • Users can share part of their identity as and when needed thus satisfying the principle of Minimal sharing.
  • Entities can issue Verifiable credentials to Users using their DIDs.
  • Other Entities can request Proof of identities, where VCs can be used to provide the necessary proof. The received proof can then be verified with the issuing entities.

Advantages

  • Currently we use our Email accounts/Facebook/LinkedIn accounts to establish relationships with multiple organizations providing service thereby allowing them to obtain correlation data. With DIDs, users can create DID for each relationship, unwanted correlation, identity breaches can be avoided.
  • Currently if I have to share my photo id proof, I provide them with identities that also contain my DOB and Address, which was not required. With VCs, we can achieve minimalization.
  • The use of VCs will allow organizations to concentrate more on their business and avoid huge costs & time associated with Identity checks and confirmations.
  • VCs can be monetized by organizations issuing the credentials.

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Emerging Technologies Architect/Evangelist with credentials in Blockchain, Virtual Asssitant, Data Analytics & Computer Vision. LinkedIn: http://bit.ly/viKram

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Vikram Sharma

Vikram Sharma

Emerging Technologies Architect/Evangelist with credentials in Blockchain, Virtual Asssitant, Data Analytics & Computer Vision. LinkedIn: http://bit.ly/viKram

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