Research and Opportunity Study into Verifiable Credentials and Digital Identity
DNP aims to explore the emerging opportunities in the decentralised identity management market
DNP considers information security technology its core strength, leveraging it to add value via a range of highly secure and reliable products and services.
DNP aims to establish itself as a future leader in the decentralised identity management market by adopting new technologies that enhance the convenience and efficiency of its existing products. DNP requested ELEKS' technology advisory service to identify several blockchain-based verifiable credentials and digital identity use cases and to help it select the most viable option for its subsequent PoC phase.
Exploring and developing use cases in identity management
The ELEKS team, reinforced by external identity management experts, conducted an in-depth study of the identity management market, current legislation and market trends. In the report presented to DNP, we outlined the key stakeholders and types of identity within this space. Then, we described identity governance models and major legal frameworks, standards and protocols. Additionally, we summed up key market trends and best practices.
Following on from this, we developed six use cases – three proposed by DNP and three proposed by ELEKS – where we perceived there to be customer demand, high technical feasibility and good financial sense:
- Creating and managing digital identities within the financial sector – with DNP acting as a service provider to support financial institutions in creating, managing, updating, and securing the digital identities of their customers;
- Enhancing DNP’s existing app with an ecosystem for creating, managing, storing, updating, complementing and supporting app users’ digital identities;
An application for setting up a digital identity profile (photo, document, voice, fingerprint);
- An app for creating metaverse avatars with biometric verification;
- A software tool to verify the identity of a digital citizen with various biometrics and geolocation capabilities;
- A one-touch verification portal to validate whether product packaging is original and an app/wallet for tracking packaging lifecycles and receiving consumer bahaviour insights.
DNP selected one, from which ELEKS developed a high-level business case. The chosen use case was an application for the financial sector that will come to serve as a gateway for users to create or complete their blockchain-based digital identities.
We looked at this business case from the perspective of desirability, feasibility and viability. Our experts evaluated the technical feasibility of the use case, provided a contextual diagram and storylines and conducted interviews with potential DNP competitors and partners.
- Interviews with identity management companies
- Research of legislation and regulations
- Market trends and best practice
- Interviews with identity management companies
- Research of legislation and regulations
- Market trends and best practice
- Interviews with identity management companies
- Research of legislation and regulations
- Market trends and best practice
- Interviews with identity management companies
- Research of legislation and regulations
- Market trends and best practice
The breadth of knowledge and understanding that ELEKS has within its walls allows us to leverage that expertise to make superior deliverables for our customers. When you work with ELEKS, you are working with the top 1% of the aptitude and engineering excellence of the whole country.
Right from the start, we really liked ELEKS’ commitment and engagement. They came to us with their best people to try to understand our context, our business idea, and developed the first prototype with us. They were very professional and very customer oriented. I think, without ELEKS it probably would not have been possible to have such a successful product in such a short period of time.
ELEKS has been involved in the development of a number of our consumer-facing websites and mobile applications that allow our customers to easily track their shipments, get the information they need as well as stay in touch with us. We’ve appreciated the level of ELEKS’ expertise, responsiveness and attention to details.
