SSI:
Self Sovereign Identity
A decentralized identity model is a future where brands, organizations or services are asking us for our personal data. Web3 users will share their Web3 ID data through a cryptographic digital trust relationship between them and requesting 3rd parties. Web3ID is a critical infrastructure service and fabric of Web3, Metaverse and decentralized computing projects where privacy and security come first. This Web3ID Market Landscape research deliverables focused on primary research and analysis of the decentralized identity (aka SSI) space and ecosystem. Three key Web3ID use cases, financial services compliance, Metaverse/Gamefi interoperability, and COPPA compliance were at the heart of this research.
Industry:
Industry 4.0
Service:
Digital Asset Management
Challenge
The client was building its own Metaverse platform and ecosystem. Their Web3 based Metaverse products and services targeted developers, creators, businesses, and end users to interact every day in a digitally serviced world. The client was morally compelled to deliver individual empowerment and privacy via a new foundational Web3 ID product. The client wanted detailed research which would help them in understanding the SSI landscape. To succeed in a space still so nascent is not easy but with the right research and team, anything is possible.
Solution
The Periscope team did the research and documented the broader market around SSI/Web3ID, key players, evolving standards, protocols that will scale and survive, and adoption across various industries.
This phase of the project involved in-depth research across the cryptoverse to not only understand what cross chain interoperability would look like but also centered around the end users being able to interoperate easily between the current Web2 identity technologies and the new Web3 applications that are based on modern protocols and tools.
The team defined:
- A multidimensional relational data model,
- Product success methodology and criteria,
- SSI building blocks,
- SSI First Principles,
- SSI Design Patterns,
- SSI product strategy
The team's ultimate goal was to attempt to identify technology, designs, organizations and people who could accelerate clients Web3ID product GTM strategy and ultimately build a successful Web3ID product in a market still in its infancy and exploding.
Benefits
The solution provided by Periscope enabled the client to understand the SSI landscape well and know "what to look for" using SSI evaluation criteria matrix which was one of the outputs of the research done by Periscope to know which criteria are relevant when evaluating solutions, products, or companies in the space.
- Faster time to market,
- Reduced market research effort,
- Identification of correct technology partners.
- Concise and clear product roadmap.
- Faster time to market
- Reduced market research effort
- Identification of correct technology partners
- Concise and clear product roadmap
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