Decentralized Identity and Self-Sovereign Solutions
Combined Session
Thursday, May 08, 2025 12:05—13:05
Location: A 05-06
Thursday, May 08, 2025 12:05—13:05
Location: A 05-06
New European standards for the EU Digital Identity Wallet mandates support for a Hardware Security Module (HSM). This module is able to perform important cryptographic operations providing very strong security and privacy protection for a user. The EU Digital Identity Wallet is typically an application the user installs on an iOS or Android mobile device allowing the user to manage their government and commercial issued verifiable credentials. Fulfilling the requirements of the EU Digital Identity Wallet, this paper outlines how an existing Digital Identity Wallet can be enhanced to leverage a HSM, examining both inbuilt and external implementations. This paper presents a compatible matrix by
analyzing the existing credential standards and different HSM cryptographic capabilities.
The wallet for legal entities such as organisations and businesses can have profound implications on simplifying doing business cross borders in the EU / EEA. We will discuss what a legal person wallet is and how it can simplify government-business and business-to-business relations. To bring the legal wallet and use cases to life, we will discuss the use of the EU DI wallet in financial services such as payments and banking, as well as alternative and evolving business models.
Most SSI initiatives are focused to improve individual user's experience, reduce friction there, and provide easy transactions. But it may well be that corporates and businesses might harvest most benefits from a mature, established, decentralised ecosystem and EAA's.
What other elements are required to make these benefits work? What are these beneifits? How to prepare for getting these benefits? How will this work, and how should we establish practical legal entity ID's to make it work?
