ADVANCEMENTS IN DECENTRALIZED IDENTITY SOLUTIONS: EMPOWERING USERS THROUGH SELF-SOVEREIGN IDENTITY

Authors

  • Ramesh Babu JP Morgan Chase, USA. Author

Keywords:

Self-Sovereign Identity (SSI), Decentralized Identifiers, Blockchain-based Authentication, Verifiable Credentials, Privacy-enhancing Technologies

Abstract

This article explores the emerging field of decentralized identity solutions, with a focus on self-sovereign identity (SSI) as a transformative approach to digital identity management. It examines the limitations of traditional centralized systems and highlights how decentralized frameworks address these issues by empowering users with control over their personal data. The article discusses key components of SSI, including Decentralized Identifiers (DIDs) and Verifiable Credentials, and explores the potential benefits of these systems in enhancing privacy, security, efficiency, and inclusivity. Additionally, it analyzes the challenges facing widespread adoption, such as standardization, scalability, user experience, and regulatory compliance, while considering ongoing research efforts and future directions in this rapidly evolving domain.

References

A. Preukschat and D. Reed, "Self-Sovereign Identity: Decentralized digital identity and verifiable credentials," Manning Publications, 2021. [Online]. Available: https://www.manning.com/books/self-sovereign-identity

W3C, "Decentralized Identifiers (DIDs) v1.0," W3C Recommendation, Jul. 2022. [Online]. Available: https://www.w3.org/TR/did-core/

A. Tobin and D. Reed, "The Inevitable Rise of Self-Sovereign Identity," Sovrin Foundation, 2016. [Online]. Available: https://sovrin.org/wp-content/uploads/2017/06/The-Inevitable-Rise-of-Self-Sovereign-Identity.pdf

C. Allen, "The Path to Self-Sovereign Identity," Life With Alacrity, Apr. 2016. [Online]. Available: http://www.lifewithalacrity.com/2016/04/the-path-to-self-soverereign-identity.html

M. Sporny, D. Longley, and D. Chadwick, "Verifiable Credentials Data Model v1.1," W3C, Mar. 2022. [Online]. Available: https://www.w3.org/TR/vc-data-model/

World Economic Forum, "Reimagining Digital Identity: A Strategic Imperative," Jan. 2020. [Online]. Available: https://www3.weforum.org/docs/WEF_Digital_Identity_Strategic_Imperative.pdf

World Economic Forum, "Passwordless Authentication: The next breakthrough in secure digital transformation," Jan. 2020. [Online]. Available: https://www3.weforum.org/docs/WEF_Passwordless_Authentication.pdf

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Published

2024-08-26