Name of project
walt.id – Bringing Self-Sovereign Identity (SSI) and Verifiable Credentials (VC) to Ocean Protocol [Proof of Concept]
The proposal in one sentence
Proof of Concept: Implementing Europe’s new open-source digital identity ecosystem based on EBSI and ESSIF in Ocean Protocol.
Website
Proposal Wallet Address
0xa4c6c2013810661a6750443aEF86cFeAc983e07f
Project Category
Build / improve applications or integrations to Ocean
Have you previously received an OceanDAO Grant (Y/N)?
N
Contact Email
dominik@walt.id (Dominik Beron, CEO)
Current country of residence
Austria
Project Overview
What is the final product?
We will prepare and set up our full SSI integration (SSI Kit), to be used by Ocean Market implementations. This includes setup and operation of a Signatory (Trusted Issuer), implementation of an easy to integrate frontend interface for registration and onboarding of Natural Persons or Legal Entities (Publishers) to our SSI solution (Custodian), as well as the setup and operation of an Auditor, enabling GDPR-compliant verification of issued credentials.
The Auditor will be exposed via a REST-API, to be accessible by new and existing Ocean Market implementations.
How does this project drive value to the Ocean ecosystem?
Self-Sovereign Identity (SSI) enables anyone to easily and reliably prove their identity, i.e. who they are and anything about them (e.g. age, address, diplomas, work records, financial information, membership status, certificates …). There is no longer a need for lengthy identification processes. Data exchange becomes possible where it is simply not possible today such as because data is not available / locked in silos.
By offering an SSI/VC solution, we significantly increase the value of the Ocean tech stack for enterprise level businesses, as well as public institutions. This is best illustrated with a simple use-case:
A data consumer wants to find and consume a suitable and trusted data service, published by an enterprise or institutional publisher. Currently there is no solution in place to verify publisher properties, such as membership status or certificates. This is often important to meet regulatory requirements (“is the publisher a verified member of association X”? or “was this algorithm audited”?). walt.id offers a self-sovereign solution to verify such claims, while being fully open-source.
Later on, there needs to be a solution in place, allowing for easy registration, onboarding and authentication of trusted customers or publishers.
The SSI Kit enables GDPR-compliant KYC & KYB processes as well as form- & password-less one-click user verification, while being completely open-source, ensuring not to forgo any of the aforementioned benefits.
Who is walt.id?
walt.id develops Self-Sovereign Identity (SSI) solutions for governments and businesses across industries. We offer an easy and fast way to adopt Self-Sovereign Identity (SSI) - particularly Europe’s new digital identity ecosystem, based on robust open source products like the EU Blockchain Service Infrastructure (EBSI) and the EU Self-Sovereign Identity Framework (ESSIF). To ensure client’s success, their industry-leading experts provide holistic services ranging from conception over the implementation of pilots and production system to enterprise support and managed cloud services.
walt.id is a European company with headquarters in Vienna, Austria.
We made it our mission to enable every developer and every organization to build identity and trust into the web and their applications.
Project deliverables
Build / improve applications or integrations to Ocean
- Setup and Registration of a new Trusted Issuer instance (Signatory)
- Easy-to-integrate open-source frontend interface for onboarding and registration of NPs/LEs into the ESSIF/EBSI ecosystem will be developed by walt.id via https://github.com/walt-id
- Setup and operation of a new Auditor (verifying instance) to be used by the Ocean community to test and illustrate the SSI solution. REST API will be available at https://datamarketplace.walt.id. (REST API may change during the project implementation.)
Roadmap
10/2021:
- Setup and Registration of a new Trusted Issuer instance (Signatory)
- Development of an easy-to-integrate frontend interface for onboarding & registration of NPs/LEs into the ESSIF/EBSI ecosystem for testing purposes.
11/2021:
- Setup and operation of a new Auditor (verifying instance) to be used by the Ocean community to test & illustrate the SSI solution
- Preparation of our solution towards the 2nd Gaia-X Hackathon
Funding requested
20,000 USD
ROI
To measure the success and ROI of this project we consider the following metrics:
- SSI and VC integration are essential requirements in Gaia-X. Our integration will strengthen Ocean Protocol within the Gaia-X architecture.
- SSI and VC integration will drive adoption of Ocean Protocol for enterprises and organizations.
- Open source software and the (hosted) SSI Kit will enable new projects to build on top of our solution.
We will leverage the 2nd Gaia-X hackathon as a platform to showcase our solution and the Ocean Protocol technology stack. As a reference, the first hackathon had a total of ~250 registered participants from over 25 countries. Given the success of the event and the traction it generated, measurable by participation in follow-up meetings, retrospectives, and preparation meetings for the 2nd hackathon, we expect this number to grow for the next event. Additionally, a successful demonstration of the solution would signal the existence of a working SSI solution to the whole Gaia-X community. This would generate lots of traction, which is why we can also include some of the >300 enterprise and organization members of the Gaia-X AISBL in our calculations.
Additionally, by developing open source software we enable new and existing developers alike to build with and on top of our solution. This in turn generates value to the Ocean community by further growing the ecosystem.
We assume that these features will help with regulatory clarity. As policy makers are very interested in the identities of users this proposal is an important next step towards regulatory compliance. It will support the Ocean Protocol stack in the long run. Eventually this leads to more enterprises engaging and running their custom markets. Let’s further assume we can win 50 new publishers next year and each of these publishers has two pools with a TVL of 100,000 $Ocean over a year. This results in 200,000 $Ocean * 50 Publishers = 10,000,000 $Ocean. This does not even consider the network revenue that is generated by trade volume.
With the above-mentioned metrics and evaluations our ROI calculation is as follows:
- Bang:
- Onboarding of Gaia-X hackathon participants into the Ocean Protocol tech stack: With the recent first hackathon as reference, we expect ~40% of attendees to actively participate in onboarding and development sessions. 40% * 300 participants = 120 participants.
- Traction within the Gaia-X AISBL and its members: We expect two additional third-party portals (Ocean Market implementations) to be developed because of our solution.
- We assume we can win 50 new publishers next year and each of these publishers has two pools with a TVL of 100,000 $Ocean over a year.
- Buck: 20,000 USD requested
- Chance of success: 90%
Expected ROI = bang / buck * (% chance of success)
= 10,000,000 USD / 20,000 USD * 0.9
= 450
Team
walt.id
Website: walt.id
LinkedIn: https://at.linkedin.com/company/walt-id
GitHub: https://github.com/walt-id
Dominik Beron
Role: CEO
LinkedIn: https://www.linkedin.com/in/dominikberon
Email: dominik@walt.id
Background: Serial entrepreneur with business and legal backgrounds.
Identity expert to the EU Commission and co-author of new EU identity standards (EBSI, ESSIF).
Philipp Potisk
Role: CTO
LinkedIn: https://www.linkedin.com/in/philipp-potisk
GitHub: https://github.com/philpotisk
Email: phil@walt.id
Background: Serial entrepreneur and experienced technical leader.
Over 15 years of experience in security and identity including biometric passports.
Severin Stampler
Role: Chief Architect & Engineer | Technical leader and developer.
LinkedIn: https://www.linkedin.com/in/severin-stampler-714605140
GitHub: https://github.com/severinstampler
Email: severin@walt.id
Background: Over 15 years of experience in computer science, software design and development (security, big data, AI/ML, …).
Advisers
deltaDAO AG
Website: https://delta-dao.com
LinkedIn: https://de.linkedin.com/company/deltadao
GitHub: https://github.com/deltaDAO
deltaDAO AG will assist with onboarding into the Ocean and Gaia-X communities as well as any questions regarding the Ocean Tech Stack. deltaDAO AG will not receive any of the fundings raised within this proposal.