Identosphere 209: Personal Financial Data Rights • TSA Approves mDL • Orchestration Systems in Track & Trust • BlueSky Updates
Everything related to decentralized identity and verifiable credentials: from the enterprise to web3, real world use, policy and research, standards and development.
We connected with #digitalidentity professionals from around the globe. Our team presented 2 keynotes and participated in 4 panel discussions, sharing insights on #digitalidentity and #verifiablecredentials
Our 6 to 7 year long commitment for the decentralized identity community, implementation of identity solutions at population scale and @credebl (recognized as #DPG) as our product offering have together made us to get in the top 3 winners
Up to 50% off transaction endorser writing packages for new customers and node operators during the Linux Foundation Decentralized Trust Member Summit.
Conventional SSO requires you to use a third-party identity provider to authenticate access to multiple applications and services. While this saves you from entering a password and username for each session with each service, it still means relying on a subscription to a third-party identity provider and cumbersome password rotation, which add additional expense and unnecessary complexity to the user experience.
This credential is about understanding the business challenges, the context, and the industry, so we can strengthen our ranks and create more robust talent pipelines.
I recently co-authored a white paper about verifiable credentials, with the founder and CEO of the exciting Australian start-up, Verified Orchestration. “Back to the Future — Revolutionising Digital ID with new technology and centuries old governance” (PDF) looks at how verifiable credentials enable whole ecosystems to digitise their established governance structures, contexts and rules, as...
On October 22, 2024, the Consumer Financial Protection Bureau (“CFPB”) finalized the Personal Financial Data Rights rule, which moves the United States closer to “an open banking system in which consumers, not dominant firms, control their data.”
The global impact of open banking can be seen in regions like the EU (Payment Services Directive 2), the U.K. (open banking API specifications), and Australia (Consumer Data Right) where regulations and specifications have propelled data sharing and API-driven financial service innovation. In 2020, Europe’s open banking market was valued at $6.146 billion, with projections suggesting it will reach $48.30 billion by 20307. Currently, 36.9%8 of the global open banking market is attributed to the EU and the U.K.
The Transportation Security Administration (TSA) has published a final rule that will allow passengers to continue using mobile driver's licenses (mDLs) for identity verification at airport security checkpoints and federal buildings once REAL ID enforcement begins on May 7, 2025.
21 October 2024 Digital Identity NZ (DINZ), through its Policy and Regulatory Subcommittee, has provided feedback to the Ministry of Business, Innovation and Employment (MBIE) for the proposed open banking regulations and standards under the Customer and Product Data Bill.
The recent FINTRAC Special Bulletin on money laundering and sanctions evasion in the legal profession is a clear reminder that safeguarding our financial systems—and upholding security—requires both vigilance and innovation.
This is the fourth article in a series of technical posts about how Track & Trust works at a component level. To begin with, we’ll outline how our orchestration systems, real-time monitoring, and dashboards work together. Additionally, we’ll explore the challenges we faced and how we overcame them. Quick navigation links to follow-up articles will be provided at the bottom of each article once the series is complete.
The Bank for International Settlements (BIS) is launching Project Aperta to explore how to reduce frictions and costs in global finance by enabling seamless cross-border data portability
Many governments still struggle to provide legal digital identity to their citizens
Traditional ID providers can only verify limited information about individuals, placing a heavy burden on issuers for scalable systems very cool slides
The piece rightly calls out IFTAS for the great work it's doing in this area. More must be done - which in part means convincing federated communities that these ideas are important.
“we're in this trap where users are locked in and developers are locked out.” It’s time to open things up again, she says, like in the innovative early days of the internet.
