Moving decentralized identity beyond Wallet Mania

by Oct 20, 2020Decentralized identity, Strategy

At Indicio.tech, we are helping clients whose ability to deliver products to market has been hampered by what we call the “disaggregated ecosystem.”

In this model, companies and organizations each build bits of the decentralized identity ecosystem in the belief that the whole will not only emerge from the separate existence of the parts, but that those building identity solutions will be able to mix and match the parts that best suit their needs.

And so, company A will build a wallet, company B an enterprise agent, organization C a network utility, and group D will create governance frameworks; multiple iterations will seed the emergence of robust decentralized identity solutions that gain traction, and scale.

This disaggregated ecosystem is far more likely to come about as decentralized identity matures; but it is not driving early-stage adoption—or at least, not fast enough for entrepreneurial spirits and business needs in the era of COVID-19.

What if you build it and they don’t come?
What we’re seeing now is the result of four years of fragmented, incomplete engineering. Instead of an integrated ecosystem driven by variety we have various companies who built wallets wondering why no-one is using them.

This is the critical obstacle we have to overcome. The slow pace in developing a fully operational, open-source technical stack has led to “Wallet Mania.” The entry point to decentralized identity has become a sticking point, sucking up creative and competitive energies, and driving fruitless discussion of whether one wallet will emerge to rule them all. But “Wallet Mania” is as useful as “Tulip Mania” if you can’t actually use a wallet to exchange credentials because the system to do so isn’t built out. What we need is “Customer Mania”—where all our creative energies are focused on solving customer pain points using decentralized identity.

This is the situation we have ended up in through a disaggregated approach to engineering decentralized identity. Implementation is frustrated because implementation requires a lot more than a wallet. It requires a fully functional, seamless ecosystem to seed adoption.

Make your own destiny
This is why Indicio is developing the missing key technical components of a full decentralized identity ecosystem. Simply put, we couldn’t help our clients build identity solutions without doing this.

But we’re also open sourcing the code.

Our mission is to kick start the decentralized identity revolution by filling in the engineering gaps so that the minimum set of interoperable open-source parts is available to form a deployable solution.

So far, we have contributed to Indy Network Monitoring Tools and a Mediator Agent; soon, we will donate a React Native Mobile Agent. We believe these contributions are the most effective way to bring decentralized identity into existence and drive global adoption.

With the full set of Indicio open source tools, you can build an end-to-end solution without depending on an entire alphabet of companies or proprietary solutions for your success. And that is a battle you can win.

 

Share This