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24 Mar: C.TI weekly round up!

Here are 3 announcements that caught our attention this week.

  1. European Union continues to progress as inter-institutional negotiations for Digital Identity commence
    The scope of the European Digital Identity is to provide the legal framework for establishing national digital wallets which are interoperable across the EU.  Including ambitious goals such as competing with giants Apple and Google. Governments continue to express significant interest and make investment into digital identity. 
  2. Takeaways from the “Future of Identity”
    The majority find biometrics preferred and positioned to replace passwords altogether.  This will be a space to watch closely along with the emergence of passkeys, likely a combination of both replacing passwords. Additionally, education and awareness on digital identity remains low and 55% of respondents believe they don’t own their information at all.  The identity opportunity space and demand remains with much room to grow.
  3. *Do NOT do this* - Soul Bound Token(SBT) issued in Dubai
    SBTs have received a ton of negative criticism and feedback across identity communities, and rightfully so. Verifiable Credentials have all of the same important properties of SBTs while being able to layer in extended privacy, security and user control, making them the clear choice. SBTs should be considered with extreme caution and evaluated exhaustively against VCs prior to usage.

Adam Lemmon is the Manager of Engineering Operations at Convergence.Tech