Challenges

With all this innovation and evolution, it is clear that the future is Web3 and identity will play a vital role in making the ecosystem a reality and will enable novel use cases that were simply not possible in the web 2.0 world. However, some challenges need to be addressed to further improve the SSI ecosystem:

• Lost device – What if a device (mobile phone) on which all of a person’s VCs are stored is stolen or left behind on a train? It is actually the same as a physical wallet with paper credentials such as a passport, ID card, etc. being lost. Some effort has been made to alleviate this issue, but a lot needs to be done. How can lost credentials be recovered instead of requesting them again from the issuer? It’s probably quicker, due to their digital nature, to get them issued to you again, but still, if there is a possibility of recovery, it would be a much more user-friendly solution.
• The transition from web 2.0 to Web3 poses some...