Episode 058: 10‐22‐2024 Corporate Wallets - GluuFederation/identerati-office-hours GitHub Wiki
Title: Corporate Wallets
- Host: Mike Schwartz, Founder/CEO Gluu
- Guest: Alen Horvat, Lead Architect, European Blockchain Services Infrastructure
- Co-Host: Nuttawut Kongsuwan, Engineer at Finema
Description
Will your future business leverage decentralized identities to issue credentials to authorize its workforce to transact? Is federated identity enough, or is this a use case for decentralized identity? How does a business even assert a legal identity? What new tools and rules are needed to minimize the transaction costs of inter-domain trust? In this episode, we'll discuss if a "Corporate Wallet" is a key enabler for digital transformation for both an organization's workforce and its end-users.
Homework
- What is an Legal Entity Identifier number? 2 min video
- DIGIT brings together experts to tackle the challenges of legal entity verification
Extra credit
- vLEI Demysteified IIW presentation
- LEIs to enable corporate digital identity through verifiable credentials
- vLEI Demystified Part 1: Comprehensive Overview
- vLEI Demystified Part 2: Identity Verification
Takeaways
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A "Corporate Wallet" is a cryptographic mechanism for a company (i.e. a "legal entity") to assert its authority and digitally sign. Not a wallet issued by your company...
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ISO standard LEI numbers, issued under the governance of GLEIF, are a hierachical registry of cross-border legal entity identifiers. You must pay to get an LEI but it's free to lookup info. DUNS numbers are the opposite--it's free to register, but you must pay to get detailed access to the data.
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Certificate transparency offers a decentralized model of trust. The Certificate transparency ledger enables companies to monitor if bad actors register fake certificates. This enables us to make trusted TLS connections to domains, without the overhead of a huge global organization registry.
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Both approaches are useful. LEI might be better for mapping the complex web of organizational ownership interests. An approach like certificate transparency might be more scalable for high transaction volume ecosystems.