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).