Backlash against handling of personal data by large tech firms has recently given rise to a new method of identity management, known as self-sovereign identity (or) decentralized identity.
The key idea is simple: give users complete control of their own data. In a decentralized identity (DID) system, each user maintains a set of credentials or DIDs. In such a system, an online job applicant might release a digitally signed credential from her university showing that she has received a bachelor’s degree.
A lot of work is going on right now to create the neccessary infrastructure to be able to issue and manage these credentials. The organizations include, but are not limited to W3C, ERC 725 , various organizations under Hyperledger and ID2020.
Most systems presume the existence of a community of issuers of digitally signed credentials. But such issuers may not arise until decentralized identity infrastructure sees use. The result is a bootstrapping problem. A big impediment to DID adoption is the inability of proposed systems to leverage the rich data on users available in existing web services that do not issue signed attestations. Other challenges DID systems face include:
CanDID achieves all the above goals. In a nutshell, CanDID leverages our previous work, DECO, to turn almost any legacy provider into a DID issuer right now! Read more about it in the ePrint version. For a quick overview, read our blog post. We are excited to work with J.P. Morgan in building an initial CanDID Proof-of-Concept. Please get in touch with us if you have an interesting use case for CanDID or if you any questions.