Report

Prepare For Decentralized Digital Identity: Security SWOT

Benefits Of Privacy And Centralization Get Hampered By Lack Of Trust, Early Fragmentation, And Growing Pains Of Wallet Management

January 21st, 2020
With contributors:

Summary

In their quest to ensure confidentiality, integrity, and empathy in customer identity and access management, decentralized digital identity (DDID) promises a complete restructuring of the currently centralized physical and digital identity ecosystem into a decentralized and democratized architecture. The architecture ensures that Issuer provided identity claims and proofs are managed by users in their on-device wallets and are only presented to Verifiers in a user authorized way. This report offers security and risk (S&R) pros a balanced, educated opinion on: 1) the security aspects of DDID and 2) its fit for identity verification (IDV) and Identity and Access Management (IAM).

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