When you think of the word “verifiable credentials”, what’s the first thing that comes to your mind?
Possibly a driver’s license, passport, Social Security Number, a university degree, or anything that identifies or belongs only to you.
Generally speaking, a credential is a piece of information that identifies a particular entity or verifies that a person has a specific attribute, qualification, or claim. For example, passports are proof of your identity while a university degree is a claim you possess.
In the physical world, someone can verify documents by examining them, but how do you do it in the digital…
Right after our first webinar, we caught up with Joseph Thompson, the CEO of AID:Tech to get his thoughts on the Self-Sovereign Identity (SSI) space and its impact on our society over the next few years.
Here are some questions we asked him.
Not many people today understand the importance of taking ownership of their data. But that could change over the next decade, as privacy would be the most important commodity.
As people travel more, they tend to use their data across borders, and it becomes necessary to be able to use it safely and securely.
Do flying cars, Martian holidays, and a secure online world appeal to you?
At Affinidi, nothing excites us more than a peek into the future, and more importantly, concrete steps that can get us there. In particular, we are passionate about addressing everyday security and privacy problems using verifiable credentials and we constantly strive to promote the principles of Self-sovereign Identity (SSI) to empower every entity to be in control of his or her data, and determine how and where it must be shared.
Keeping in tune with this objective, we partner with student organizations and developer communities to educate…
Self-Sovereign Identity (SSI) is a form of identity where users have complete control over their data and how it is shared with others. Verifiable Credentials (VCs), on the other hand, are a W3C standard for implementing SSI.
There are three parties involved in a VC — issuer, holder, and verifier, and together they form what’s called the trust triangle.
The entire process begins when the issuer creates a VC that contains one or more details of a holder. As a part of this process, an issuer also can revoke a VC, as circumstances of the holder may change.
September 2nd, 2021 was a big day for all of us in the Global Developer Ecosystem (GDE) team of Affinidi as we geared to host our first webinar on Self Sovereign Identity/Decentralised Identity and Financial Services with Varsha Jagdale (General Manager of Financial Services at Affinidi) and Joseph Thompson (CEO of AID:Tech) as the speakers.
Sandeep, our Community Manager at Affinidi, was the host, and he started by giving a brief introduction on Self-Sovereign Identity and Affinidi’s work in this space.
This was followed by Varsha Jagdale who spoke about what Affinidi is doing in the financial services industry.
The growing digitalization of our lives means that we interact with thousands of apps, hundreds of companies, and possibly millions of users each year, depending on what we do online.
While these interactions have opened a world of possibilities, it has also greatly increased the risk of data breaches because we don’t know where our data and identities are stored, who accesses them, and where they are used. …
Self-sovereign identity (SSI) is an emerging philosophy that puts you in complete control over your data. In this framework, you get to store your data and share it with just the entities you want.
This relatively new concept of digital identity management has three essential pillars and they are the issuer, the holder, and the verifier. Together, these three pillars or entities constitute what’s called the trust triangle.
Let’s start with understanding what these three pillars are.
An issuer is an entity that is authorized to issue a credential. These issuers are typically government organizations, healthcare centers, banks and financial…
Innovation and partnerships are the key drivers of technology as companies look to leverage each other’s capabilities to develop unique solutions that will address many of the existing social, technological, and security challenges.
Keeping in tune with this thought, Affinidi has partnered with AID:Tech, a digital ID and Blockchain technology company, on multiple initiatives including the creation of verifiable credentials-based applications.
AID:Tech is a startup that has been working in the Identity space since 2016 and specializes in building the infrastructure for the creation and management of decentralized digital IDs.
Blockchain and Self-Sovereign Identity (SSI) are often talked about as complementing technologies. But do you really need blockchain to enable SSI?
Before we answer this question, it merits to note that SSI is a digital movement that aims to enable individuals or organizations to have sole ownership of their identity, and to have control over how their data is shared and used. It functions on cryptographic key pairs which can be based on blockchain technologies.
As always, let’s answer this question with an example.
Frank is a traveler who is going on a vacation from Singapore to Germany. As per…
What’s a good approach to protecting your online privacy and securing your digital data from unauthorized access?
Undoubtedly, a complex question, right? But the answer can be simpler than you think, and in two words, the solution is Self-Sovereign Identity (SSI) — a philosophy that empowers users to control the way their data is stored, accessed, and handled.
One of the driving principles of SSI is a concept called Selective disclosure which enables individuals to share just what they want with others. …