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I have been busy promoting verifiable data from and to identity building wallet applications for soon ten years. Progress has been too slow – despite the drawings made by Trust over IP and Self-sovereign Identity – and actions by the EU-commission.
When the AI-boom came I became worried that it will steal too much of the Trust Infrastructure attention. Luckily it turned out that ID-wallets are now widely seen as preconditions for safe and efficient AI-agentics.
So now the ID&AI scene is - mildly speaking - crowded with everything. Starting from bold singularity visions where AI will make politically difficult decisions and prevent humans from making stupid ones (as usual..).
Then my favourites - a rapidly growing supply of ideas of how hundreds of credential streams will make handling of business and life events easier, secure, automatable, transparent, private and productive – also for the new little helpers – the AI-agents.
And the obvious understanding that without organisation wallets for public sector units and businesses it will not happen.
Hopefully also that these are already available from the markets. No need to slow down by waiting for expensive state-built ones.
To get to a cross-border functioning Trust Infrastructure is not an easy task. Instead of loading everything on the sledge (cooking the ocean) we should advance with easy eye-opening credential streams to make sure that the man on the street – going to work or shopping – will start to demand the easiness and safety of general-purpose wallets. The IBAN-credential should btw be available from all banks soon - not only once it is mandatory. Time to take responsibility..
We should progress in parallel with use cases, technology and also mandatory legislation. One after the other is too slow – especially as cyber-crime is costing 11 trillion USD/year and will grow faster by using unidentifiable AI.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Sergiy Fitsak Managing Director, Fintech Expert at Softjourn
21 July
Sam Boboev Founder at Fintech Wrap Up
20 July
Dmytro Spilka Director and Founder at Solvid, Coinprompter
17 July
John Adam Chief Revenue Officer at Aimprosoft
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