Innovation Best Practises
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Persistent digital reputation across industries, countries, and legal frameworks

Combined Session
Tuesday, September 14, 2021 12:40—13:00
Location: EIC CAFÉ

Most of the facts about ourselves currently exist in paper-based format, centralized government-controlled repositories or belong to large platforms such as banks and social networks. In this presentation I will give overview of the history of trust mechanisms and how digital decentralized identity technology can improve it.

In particular, we will focus on 3 aspects:
1) What is trust and how it evolved over time
"Owning and exchanging trusted data is a millennia-old problem. From the oral speech to papyri, printing press and modern digital documents — it always was an integral part of any human organization. With the growth of modern technology, amount of data in the world skyrocketed — in the last 3 years alone we generated more data than during the rest of the history."

2) What are the most recent innovations in the space and how this technology is being applied to real world problems
"The promise of self-sovereign identity technology is to create universal portable lifelong digital identities and credentials. The economic benefits of this tech are realized through some of unique properties that SSI has:
- Reducing the cost of issuance and verification of data points and facts: $1 for print, delivery, storage and verification of a typical paper document vs $0.001 for digital verifiable credential.
- Data standardization: portable and universal data standards instead of point-to-point API integrations between hundreds of participants.
- Drastically decrease the possibility of fraud: cryptographic signatures are hundred times more secure than physical ones; decentralized encrypted storage is not as vulnerable as centralized gigantic databases.
- Unification of contexts: data from multiple sources can be combined in a single document to prove not only the content but also the audit trail of that data.
- Instant data privacy compliance: end customers are ultimately own and control access to their data, which makes SSI systems instantly complaint with most data protection regulations"

3) How can we use all of these learnings to create decentralized open protocol that will allow end users to build up persistent lifelong reputation

— How to build persistent digital decentralized reputation system in an open protocol format
— How to use mechanism design, game theory and crypto-economics to design decentralized governance for the protocol
— How such system can create trust and increate efficiency in the areas of Finance, Education and Recruitment

Stepan Gershuni
Stepan Gershuni
Decentralized Identity Foundation
Stepan is a technology executive with 10 years of experience in developing web and mobile products based on public cryptography, blockchain and digital identity technologies. Stepan worked as...


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