SSI Startups – Partnerships, Investments, Recruiting/Jobs, Ideas

From IIW

SSI Startups

Tuesday 2M

Convener: Timothy Ruff

Notes-taker(s): Heather Vescent

Tags for the session - technology discussed/ideas considered:

Discussion notes, key understandings, outstanding questions, observations, and, if appropriate to this discussion: action items, next steps:

SSI Startups
Credit Unions (call in, walk in, log in)

“ultrafico” Thin files [Symbol] (Finisity, Experian Boost) A new way of creditworthiness, by looking at how you manage money. A new model, regardless of income and payments on time, they can analyze how you manage your transactions, they can determine whether you are responsible with your money. Booster 17% of the Thin files, can be borrowed. He can take banking files via open banking, asks permissions to see your transactions, algo calculates your score, and you can buy it / sell it to others.

Credit industry – fraud is a major issue. In a few years, 50% of the calls will be fraud. The security measures to prove you are who you are when you call in. (CU Ledger project??) To authenticate their own customers online.

Pet identity

Medical Data

Centralized Identity example: Passport failed because they tried to own it.

We’re going to solve the identity problem, but through us, they create the same identity problem over and over.

Sovrin – use DLT and get the right people to invite the right way to use this & open source it and give it away, and one way build a profitable business on top.

The scary part is to spend money/resources and build something and give it away. Raised $25M and gave a lot away… and successfully moved the needle. A lot of people think that Sovrin is the right way to do this.

Something’s happened in the few months – Hyperledger Indie

“Independent identity”

  • Babies need SSI, are they capable of being SS?
  • What about things?
  • What about disabled people, elderly

An entity that needs an ID, but can’t give it to themselves, it is a guardian style.

Indie codebase, got moved from incubation status to active status. (One of 3 active)

Hyperledger Fabric (IBM)

Hyperledger Softtune (Intel)

Hyperledger Indie (Evernym/Sovrin)

There’s a point of maturity in the stack.

“They talk about what identity should be at IIW”

Self sovereign identity was really cultivated here. It starts with ideas and then to practicality.

The stack of SSI is ready for primetime?

Blockchain is experiencing the same thing.

What everyone is looking for is real world applications.

Crazy Ideas/uses for SSI Technology

  • Pet identity
  • IoT
  • Voting
  • Healthcare

Best ideas, that can be funded by an investor.

An opportunity to become a good business (an investor would put money down) and has ROI.

A broad ecosystem of successful companies, that drive adoption of the underlying technology and provide a business ROI.

What is the problem that customers will pay for?

Question: why would I use Sovrin vs a competitor technology.

OpenSSI – protocol.

A network of networks that uses that protocol. Anyone who uses it.

Working on that with Linux Foundation and IBM. Sovrin will have advantages than other ledgers.

Sovrin has advantages over BTCR (and privacy capabilities)

Credit Unions

  • In control of your data

Mutual parallel authentication.