"Decentralized ID and self-sovereign identity are in the works by organizations profiled in new report."
New research report from Mercator Advisory Group profiles major solution providers for self-sovereign identity.
Mercator Advisory Group has released Part 2 of a report describing new identity and authentication technology that would collapse identity platforms and authentication platforms into a single solution designed to implement the principles of self-sovereign identity (SSI). The report, ‘Distributed and Self-Sovereign Identity Solutions: Part 2, Implementations and Suppliers ’, focuses on major participants in development of SSI and the approach they are taking.
The companion report, released by Mercator in August, Distributed and Self-Sovereign Identity Solutions: Part 1, Technology Overview, describes new technologies including Secure DNS, decentralized IDs, and self-sovereign identity, which is an identity and authentication model currently adopted by IBM, Microsoft, and Mastercard.
Mercator Advisory Group sees self-sovereign identity (SSI) as a major revenue opportunity for financial institutions, enabling them to monetize their customer authentication processes and data without compromising customer privacy. However, deciding which of the various rival implementations should be supported is a challenge, and this report is intended to help by profiling the technology providers in this market space.
“Self-sovereign identity (SSI) is a major business opportunity, one that places financial institutions back at the center of their customers' lives and provides value beyond simple deposit, transaction, and lending services. Even better, this position is highly defensible since, once customers have selected a solution, network effects will make it very difficult for them to switch,” commented the author of the report, Tim Sloane, VP, Payments Innovation, and Director, Emerging Technologies Advisory Service at Mercator Advisory Group.
This research report has 21 pages and 4 exhibits.
Companies and other organizations mentioned in this report include:
Absa, ABN AMRO, Accenture, Aetna, ANZ Bank, Barclaycard, Blockchain, BNY Mellon, [Province of] British Columbia, Calastone, Cisco, Civic, CLS, CME Group, Coinplug, ConsenSys, Credits, CULedger, Depository Trust & Clearing Corporation (DTCC), Desert FCU, Deutsche Börse Group, Digital Asset Holdings, Evernym, Fujitsu Limited, Guardtime, Hitachi, Hu-manity.co, Hyperledger Indy, IBM, Illinois Blockchain Initiative, Intel, IntellectEU, iRespond, J.P. Morgan, Korea Post, Linux Foundation, MADANA, Mastercard, Metadium, Microsoft, NEC, NewBanking, NTT DATA, OrgBook, R3, Red Hat, Royal CU, SITA, Sovrin Foundation, State Street, SWIFT, Symbiont, Unity Technologies, USAA, Veridium, VMware, and Wells Fargo.
One of the exhibits included in this report:
Highlights of the research report:
- Evernym, Hyperledger Indy, and Sovrin Foundation: Weaving SSI
- The Hyperledger Project
- SSI technology suppliers
- SSI Implementations
- Government implementations in operation today
- Other market participants
- Opportunity for financial institutions