Re: Selfkey (KEY), TheKey (TKY) or Civic (CVC), which one will be the winner?
2. An assumption is - the party you interact with will need to be also enrolled on the platform. E.g.: if you have a SSI with Selfkey and you need to interact with party X - if party X itself does not have a Selfkey SSI then you are stuck.
3. A further assumption is that there will be widespread adoption....ain't ever going to happen. All fintech or companies requiring KYC or AML compliance - need to do independently - especially if they are operating under a strict jurisdiction /regulatory framework. Large fintechs would want participation and influence in the design of the algorithms and mechanisms. To make matters worse - smart contracts are still considered experimental so, which multi-billion corporate would leave their reputation to chance? Some ICOs might use these solutions, but I don't see any fintechs who would take the plunge.
Lastly - most of them use blockchain/DLT as a facade for some new cutting edge innovation. Rather, they can be achieved with "traditional" technology. The only difference is - you, as the end user will have to purchase their specific token to interact with the platform.
3. A further assumption is that there will be widespread adoption....ain't ever going to happen. All fintech or companies requiring KYC or AML compliance - need to do independently - especially if they are operating under a strict jurisdiction /regulatory framework. Large fintechs would want participation and influence in the design of the algorithms and mechanisms. To make matters worse - smart contracts are still considered experimental so, which multi-billion corporate would leave their reputation to chance? Some ICOs might use these solutions, but I don't see any fintechs who would take the plunge.
Lastly - most of them use blockchain/DLT as a facade for some new cutting edge innovation. Rather, they can be achieved with "traditional" technology. The only difference is - you, as the end user will have to purchase their specific token to interact with the platform.
There is universal resolver in the works which is working towards a global standard and interoperability. https://medium.com/decentralized-identity/a-universal-resolver-for-self-sovereign-identifiers-48e6b4a5cc3c
None of these players are on this project. My bet is that you should be looking at Veres one, Uport and Sovrin.
Here's the spec:
https://w3c-ccg.github.io/did-spec/
We are trying to figure out which technology to invest in...
Thanks.
Infact, I am currently working with and trying to implement a Sovrin solution - that's why I think these 3 current solutions are only in it for the $$$$...they lack substance as far as true DID/SSI solutions are concerned.
The people behind these projects are opportunistic alright as they have realized the KYC/AML/ID management to be a major bane...and now capitalized on it
KYC/AML/ID is a real pain. We are giving uPort and Sovrin a deeper look. Now our PoC is with uPort. How do you interface from web to Sovrin / Hyperledger? The KYC data needs to be loaded from an app and stored. We think p2p like functionality on data storage should be used. How do you handle private key storage? What do you think of the Sovrin token? The fact that government issued IDs are in question could slow down adoption a lot. Do you see that a trusted authority here could be a bank?