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A good self‐sovereign identity system will allow individuals to directly influence how companies, governments, and others correlate our interactions across different services and locations by default. It won’t fix all identity problems nor preclude alternative identity approaches, but it will put the individual in control of most uses of identity and give organizations a simpler, easier, more ethical way to use identity to improve how they provide services and products. When successful, it will not only enable individuals to exercise greater control over how companies and governments keep track of us, it will also illuminate those situations where self‐sovereign identity is restricted, facilitating a conversation about when and where such limits are appropriate. Joe Andrieu -A Technology‐Free Definition of Self‐Sovereign Identity
What is Decentralized ID?
The essence of Decentralized-ID is in creating open standards for a privacy preserving internet-wide identity layer — not owned by any one particular organization, but interoperable between all.
Why Now?
It's impossible to have a conversation about decentralized-id without discussing blockchain, self sovereign identity, standardization and frameworks, along with global privacy and digital identifiction regualtions:
- Cryptographers, privacy advocates and digital identity enthusiasts laid the foundation by deeply considering the implications of digital identification practices in the electronic world.
- The European Union's GDPR enlarged the global conversation around digital privacy practices, lending much weight to the SSI credo.
- The United Nations Sustainable Development Goals (SDGs) have also fueled efforts towards a global and widely accessible identity solution.
- The Blockchain industry exploded around Bitcoin, proving the concept of digital scarcity, in the form of a decentralized peer-to-peer (P2P) currency.
- Efforts to commercialize its success and digest its technological breakthroughs, into something accessible to the global marketplace, have been seemingly limitless.
- The state of global securities regulations, along with the open-source, decentralized, nature of blockchain, have limited the marketability of those efforts.
- The movement to decentralize the web and encourage proliferation of P2P technology also lends strength to efforts towards Decentralized Identity.
- Over the past year, the movement for Self Sovereign Identity has shown itself to be the most likely chance of succeeding in the effort to build out solutions that satisfy the urge towards innovation, and find a way to use the world-changing technology.
- Collectively arrived at solutions are trending towards congruence with the spirit of innovation, privacy concerns, and compliance within the global regulatory landscape.