Venafi: Self-Sovereign Identity for Machines – Homepage
BiiLabs: TangleID – Github
Identity solutions and the transfer of rights
The new distributed ledger technologies enable the creation of a self-sovereign digital identity solution for the first time. The advantage of a self-sovereign identity using DLT is that it is generated and managed by the user themselves, instead of trusting the user account management of a third-party platform. With such an identity solution, only the users themselves have full control over their personal data and decide when and with whom they share their data.
For the authentication of the digital ID itself, there are different approaches. Which of the solutions will be viable and will prevail in the market is yet to be seen. Personal data of the user could be verified once by trusted third parties. It would also be possible to validate an ID with an online account and a collection of digital documents such as an ID card and a driver’s license. This would have the advantage that the user could expand his or her profile with additional documents such as a police record, proof of income, diploma, insurance, health data, etc.
With IOTA’s distributed ledger technology, a trusted online profile can be created that can be used for various business processes. The digital ID enables a more efficient data verification process. This process can significantly reduce onboarding and know-your-customer processes and it can also eliminate online age verification fraud or similar.
Based on IOTA technology, the open-source project TangleID by the company Biilabs is exploring such a solution. Guidelines and standards of DigitalID and the General Data Protection Regulation (GDPR) are followed.
The IF has already partnered with the city of Taipei to explore smart city concepts. As one of the first applications, TangleID will be used for digital citizen ID cards in Taipei. This digital citizen ID card will be used to eliminate identity theft and combat election fraud as a first step. After a successfully completed trial phase, the project can be easily expanded to enable identity-based data exchange in areas such as public services and medical records.
With IOTA based identity solutions, all sorts of rights could also be transferred, for example
- Access rights: for digitally protected content
- Usage rights: for digital media (replay rights, transport rights, etc.)
- Licenses: For software
- Image rights: Copyrights could be linked
- Usage billing: Usage-based payment models, allowing consumers to purchase content not only for a fixed sum, but also selectively and in small quantities.
- Access rights: Tickets for various events could be transferred.
Last Updated on 16. February 2021