Everyone is excited about SSI but there still aren’t any use cases that form part of people’s daily lives, so the team at Cheqd set out to change that. In this session, Ankur Banerjee walks through the research that led them to settle on social reputation in Web3 ecosystems as a use case that would be fun and drive daily usage. Find out more on creds.xyz.

1. Creating the trusted data economy
Ankur Banerjee
CTO & Cofounder, Cheqd
Making
privacy-preserving
digital credentials fun

2. 1. Empower global SSI
communities
2. Open to everyone interested
in SSI
3. All content is shared with CC
BY SA
Alex Preukschat @SSIMeetup
@AlexPreukschat
James Monaghan
@james_monaghan
Coordinating Nodes
SSIMeetup.org
SSIMeetup objectives

3. “People want more privacy”
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cheqd (.io)
Read more 👉 cheqd.link/top-5-trends
https://creativecommons.org/licenses/by-sa/4.0/

4. You should
be the centre
of your
data universe
cheqd.link/what-is-cheqd
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cheqd (.io)
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10. “People want more privacy…the
same way they want to exercise
more”
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Read more 👉 cheqd.link/top-5-trends
https://creativecommons.org/licenses/by-sa/4.0/

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https://creativecommons.org/licenses/by-sa/4.0/

12. How do we currently originate digital credentials?
“Show me your passport, a
selfie, these other documents
from two years ago…”
You aka “holder” Bank aka “receiver”
Trusted
organisations
aka “issuers”
Govt Agency
Employer
Credit bureau
“Can I trust what’s in
these documents?”
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cheqd (.io)
https://creativecommons.org/licenses/by-sa/4.0/

13. This is expensive right now
Can’t have access because check
takes ~minutes ⏱ to ~weeks 📆
You aka “holder” Bank aka “receiver”
Trusted
organisations
aka “issuers”
Govt Agency
Employer
Credit bureau
$10
$2
$50
Takes time,
effort, and
money
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cheqd (.io)
https://creativecommons.org/licenses/by-sa/4.0/

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So why should companies give it away for free?
cheqd (.io)
Basic KYC check: ~$5-10
Criminal record check: ~$50-100
Company background: $100-500
(GLEIF-accredited LEI: ~$100/year)
Having a sustainable business
model: Priceless 💸
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15. cheqd is not just another layer one.
We believe in open standards and
fixing broken business models.
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cheqd (.io)
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16. We are establishing a clear incentive model for the entire
ecosystem (especially issuers)
Flow of value
Note: Issuers will also be verifiers
and vice versa, verifiers will also
be issuers.
Credential
Holder
Credential
Receiver
Credential
Issuer
Infrastructure:
cheqd & other node operators
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We are incentivising
organisations with data
silos to release that data
to individuals and join
the SSI revolution
This benefits everyone
in the SSI ecosystem
cheqd (.io)
Node operator
% of revenue flow
Node operator Node operator Node operator YOU
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17. Establishing a clear incentive model
for the entire ecosystem
Value / payment
Lower KYC costs
Current ID checks cost
between $2 - $10
Recurring
revenue stream
Collected by the issuer each
time a Credential is verified
Infrastructure:
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cheqd (.io)
Node operator Node operator Node operator Node operator Node operator
ID check reduced
to 0.25c
0.20c
0.05c
Credential flow /
verifiable trust
Verifiable trust
Bank
(Issuer)
Holder
Company
(Verifier)
https://creativecommons.org/licenses/by-sa/4.0/

18. Node operator
SSI’s potential to create new data
marketplaces is exponential
x 100 -
1000s
of these ecosystems
Infrastructure:
cheqd (.io)
Node operator Node operator Node operator Node operator
Government Banking Healthcare
Insurance
Credit
Travel
e-Commerce
Lenders
https://creativecommons.org/licenses/by-sa/4.0/

19. Growth of
Self
Sovereign
Identity
Better user experience,
privacy, and security
More identity subjects
using and demanding SSI
More places accepting SSI
More organisations issuing SSI
Lower cost structure for
creating trusted data
Lower prices for
consuming trusted data
Flywheel for SSI adoption
cheqd (.io)
https://creativecommons.org/licenses/by-sa/4.0/

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cheqd (.io)
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21. Your wallet should hold any kind of trusted digital statement
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22. Our on-ledger primitives allow digital credentials of any type
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cheqd (.io)
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23. SSI VENDORS
SSI START-UPS
COSMOS & WEB 3.0
CONSULTANCIES
INVESTORS
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24. Our partners work globally, cross-industry & use-case
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cheqd (.io)
SSI for gaming
Portable avatars / experience /
achievements
Community credentials
Credentials for reputation / access
Decentralised reputation
Prove reputation without central
authorities
Regulatory compliant DeFi
Privacy-preserving KYC for DeFi
Preferences
Express preferences with privacy
Single sign-on
No more username or password logins
Onboarding
Re-usable, digital KYC credentials
Corporate identity
Re-usable, digital KYB credentials
Supply chain
Prove supply chain is certified
Healthcare
Portable, digital healthcare records
Employment / HR
Portable, digital professional records,
e.g. degree
Citizens / governments
SSI-based national identity
Travel / hospitality
User-centric home for travel
documents, inc. vaccines
e-Commerce / Retail
One-click checkout for anyone to
improve conversion and prevent fraud
https://creativecommons.org/licenses/by-sa/4.0/

25. What else is cheqd doing
differently?
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cheqd (.io)
https://creativecommons.org/licenses/by-sa/4.0/

26. License issued in 2012
Schemas are used in digital credentials…and traditional ID docs
This becomes increasingly important in a world of Verifiable Credentials, where reliance on the
schema is a core part of the verifier being able to trust the a credential presented to them.
Schema attributes
https://creativecommons.org/licenses/by-sa/4.0/

27. License issued in 2012 License issued in 2015
new attributes in new format
Schemas regularly change over time
In this example, we have two driver’s licenses. The first is valid between 2012 and 2020, which
overlaps with the issuance of a new license format in 2015. In this scenario, systems will need to
understand and check the validity of both licenses and their associated schemas.
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28. ✓ Height
✓ Weight
✓ Eyes
Schema issued in 2012 Schema issued in 2015
Schemas regularly change over time
If the initial schema is updated in a centralised registry such as schema.org, it may actually
overwrite and invalidate the old schema, making it very difficult for client applications and verifiers
to trust older or deprecated documents - which should still retain a high level of assurance.
https://schema.org/driversLicense
✓ Name
✓ DoB
✓ Sex
✓ Issuance
✓ Expiry
✓ Class
✓ ID
✓ Name
✓ DoB
✓ Sex
✓ Issuance
✓ Expiry
✓ Class
✓ ID
https://schema.org/driversLicense
☒ Height
☒ Weight
☒ Eyes
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29. This can be problematic for client apps
I can assure you
that this license
was valid in 2015
Computer says no…
We’ve all encountered some form of ‘Computer says no’ in this context. This could cause even
more headaches with Verifiable Credentials if we do not learn from previous mistakes..
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30. Single point of failure when storing schemas at web URLs
The Facebook outage of 2021
which took down apps that
used “Login with Facebook”
functional
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31. Cloud infrastructure is quite centralised and concentrated
Systematic, global outages on
cloud providers has take out
many, many services
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32. “Linkrot” breaks links on the web, all the time
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33. How is cheqd fixing the user
experience and longevity issues?
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cheqd (.io)
https://creativecommons.org/licenses/by-sa/4.0/

34. DID method
prefix
Resource
Collection ID
Query parameters
Resources discoverable using DID URLs
did:cheqd:mainnet:46e2af9a-2ea0-4815-999d-730a6778227c?resourceName=Passport&versionTime=2022-07-01
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35. DID method
prefix
Resource
Collection ID
Module path Specific
Resource ID
Resources discoverable using DID URLs
did:cheqd:mainnet:46e2af9a-2ea0-4815-999d-730a6778227c/resources/688e0e6f-74dd-43cc-9078-09e4fa05cacb
DID method
prefix
Resource
Collection ID
Module path Specific
Resource ID
did:cheqd:mainnet:zF7rhDBfUt9d1gJPjx7s1JXfUY7oVWkY/resources/688e0e6f-74dd-43cc-9078-09e4fa05cacb
UUID-style identifier
Indy-style identifier
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36. Visual representations of credentials help users pick them out
In this example from British Airways, the
pass at the front is for a “Gold” loyalty
status member, whereas the pass at the
back is for a “standard” loyalty status
member.
This information can be represented in a
Verifiable Credential, of course, but the
example here uses the Apple Wallet /
Google Wallet formats to overlay a richer
display.
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37. How can we make
privacy-preserving digital
credentials fun and a daily habit?
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cheqd (.io)
https://creativecommons.org/licenses/by-sa/4.0/