Indicio’s public benefit mission is to advance decentralized identity. How did we do in 2022?

By Trevor Butterworth

Indicio began as a conventional corporation, but its founders made the decision, a little over a year ago, to reincorporate as a Public Benefit Corporation: Our founding mission — advancing decentralized identity — would be our public benefit mission.

The rationale for this was simple: decentralized identity technology has the capacity to protect individual privacy, enhance digital security, enable consent in data sharing, and provide a pathway to formal identity for hundreds of millions of people currently without any legal means of proving who they are. In short, it can deliver significant material benefits to society besides serving as the missing verification layer to the internet.

Reincorporating as a Public Benefit Corporation means that these material benefits must shape how we do business—that shareholders and stakeholders must align when it comes to business decisions so that we stay on mission.

What does this mean in practice? How did we advance decentralized identity as a public benefit? The answers are laid out in our first Public Benefit Report — along with our assessment of what we want to achieve in our public benefit mission in 2023.

You can read the report in the viewer below or download here.