In the digital era, business would greatly benefit from having increased identity assurance levels, be able to interact securely with partners, suppliers, consumers, and customers, and be able to reduce the administrative load during onboarding or ongoing verification of credentials.
One potential solution, that is gaining momentum and support around the world, is the implementation of decentralized Identity systems that use verifiable credentials that are tamper proof, can be stored in a digital wallet, and can contain a decentralized identifier that is globally unique and can be cryptographically verified.
A user-centric universal digital identity solution
The ultimate goal is a universal digital ID that can be used to access all digital services without having to enter personal identity information for every single service and without having to trust every service provider to keep that centralized personal information safe.
While we still have some way to go in achieving that goal, organizations can already start using decentralized identities and verifiable credentials, thereby gearing up to enable the wider ecosystem that they will be able to tap into as soon as it is up and running.
Decentralized Identity highlights in the EIC agenda
Any organizations interested in finding out more about decentralized identity, verifiable credentials, and how and why to implement them, should attend the track at the European Identity and Cloud Conference 2023 dedicated to these topics. The track is designed to provide a wide range of useful and practical information about Decentralized & Verifiable Credentials.
Interworking or interoperability is one of the key challenges to the implementation of Decentralized Identity. To find out how OpenID for Verifiable Credentials can help with this challenge and a lot more besides, attend this track session on: How to Build Interoperable Decentralized Identity Systems with OpenID for Verifiable Credentials.
Learn more about the NFTicket protocol, how it combines the identification power of cryptographic wallets with those of Decentralized Identifiers (DIDs), and how it has been applied in a pilot to create Renewable Energy Certificates as Verifiable Credentials in this session entitled: Verifiable Credentials and Dynamic NFTs – Two sides of the same medal.
Drilling down even further into the topic of interoperability, the session on Interworking of Verifiable Credential Products examines in detail two projects aimed at fostering wide scale adoption of Verifiable Credentials and discusses their finding.
Discover some of the business benefits of Decentralized Identity, the steps involved in setting up the necessary systems, important considerations, challenges, potential pitfalls and KuppingerCole’s recommendations in this session on Implementing Decentralized Identity.
And, find out about a new paradigm for IDaaS in the session on Rethinking Educational Accreditation and Onboarding with Decentralized Identity, in a discussion on how educational institutions and employers can adopt a privacy-friendly, frictionless, and more secure onboarding process for students and employees.