In our newest episode of PayTechTalk and our 5th “DeFi vs. CeFi”-Series, We talk about Self-Sovereign-Identity SSI. Our moderator Alireza speaks again with Gökhan Nazenin and Henri de Jong, and they are joind by Oliver Naegele, Founder and Managing Director of Blockchain Helix AG, which runs Helix ID.
We begin by introducing and explaining the topic with the complex name self-sovereign-identity (SSI). To Henri, SSI is a decentralized model of digital identity where individuals have complete control over their personal data, without relying on third parties. In SSI, users are in charge of creating, managing, and storing their digital identity information in a secure and encrypted manner, and can choose to share it with others on a need-to-know basis. This gives individuals more privacy, security, and control over their data. Oliver dives deeper, from a business-expert-perspective. SSI is important because it empowers individuals to own, control, and manage their personal data in a secure and privacy-preserving manner. Alireza gives some insights on the regulation of SSI and demonstrates the international approach in how to tackle SSI from a legal point of view.
The podcast goes on with Gökhan talking on more important topics from a business perspective. SSI is considered important for Web3, as it aligns with the core principles of a decentralized and user-centric web. In Web3, data and digital assets are controlled by individuals, not by central authorities or corporations.
Oliver and Henri elaborate on the usage of wallets and token for SSI purposes before Alireza and Gökhan give an outlook on how SSI may be key in the digital financial industry such as for the payment industry.
Oliver Naegele & Blockchain Helix
Oliver Naegele has been working in the field of digital identity management and distributed authority since 2015, and is one of the European authorities in this field. In 2016, Oliver founded Blockchain HELIX to bring his vision of a trusted and secure digital society and economy to the world and to become the European market leader for verified and self-sovereign digital identity with the product helix id. He is a board member of the Blockchain Bundesverband and the European Public Network EPN.
FIS is a leading global provider of financial technology with a focus on retail banking, institutional banking, treasury and payments, asset management, wealth management, risk management and compliance, professional, hosting and cloud services. The breadth and depth of its portfolio and associated global expertise and underlying capabilities were further enhanced through the acquisition of SunGard in November 2015: Today, FIS employs more than 55,000 people serving more than 20,000 clients in over 130 countries worldwide. For more information about FIS, visit http://www.fisglobal.com.
Henri de Jong
Quantoz Blockchain Technology is behind the multiple award-winning financial gateways NEXUS and QUASAR, based on blockchain technology and cryptography. NEXUS is a platform for the automated processing of token, crypto and fiat transactions. It connects traditional financial infrastructure with public and private blockchains. The QUASAR solution enables instant and compliant peer-to-peer (micro) transactions and settlements between “things”, allowing its customers to turn their internet-connected devices into (pay-per-use) monetisation services. For more information about Quantoz, visit: https://quantoz.com/.