Digital Identities and Verifiable Credentials
This article discusses the challenges of today’s centralized identity management and investigates current developments regarding verifiable credentials and digital wallets.
The document examines the shift from centralized to decentralized digital identity systems, emphasizing the advantages of verifiable credentials (VCs), digital wallets, and decentralized identifiers (DIDs) for privacy, security, and user control.
It discusses the limitations of traditional identity silos, the growing adoption of decentralized identity models in Europe and North America, and highlights ongoing challenges such as governance, regulatory compliance, and the impact on business and government services.
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