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Details of the presentation can be found in the recording video and audio.
Some key points:
- This is the year of deployment- Paypal has started a Blockchain based interface for identity
- Owned by Credit Unions- have been involved in bringing SSI to credit unions for over 4.5 years
- Ambitious plan to onboard 1 Million members by the end of the year- more than 20 Pilots in flight- Timeline says end of 2019-
- KYC Compliant and interoperable
- Main problem is
- Do you know who you are talking to?
- Can you prove it?
- Can you trust the proof?
- Can you do it in less than 5 seconds?
- My CUID is the key- it follows the DiD structure.
- Credit Unions are very diverse spread out and subject to many of the KYC AML regulations as the banks
- We situated the effort in the context of the Stack
- Steve asked about people layer:
- Credit Union Issuing through a trust anchor (CU itself) MyCUID to a member.
- Legal burden of getting it right-
- Mechanism of making sure on line interaction the person
- Enrollment 20 Front End Auth providers at KNOW conference- we will partner
- Issuance Credential is pairwise between issuer
- Integrating into my life style. Identity is not enough- behavior lifestyle, etc. lending, payments, new account openings- voice banking using google home and alexa. Being able to use voice banking.
- What kind of info is being being put on the blockchain?(Zhang) How about revocation- through the
- How do you reconcile with KYC/AML (Stephane Mouy)- KYC backed credential- GDPR compliant today- remain KYC compliant
- How do we overcome the regulatory constraint? Involving the regulators NCUA. N
- Also we looked at some of the efforts to bridge to legacy systems. Most important of these were FISERV