What is Self-Sovereign Identity (SSI)? - Digital identity on the web3 explained
Self-Sovereign Identity (SSI)
Own your identity - control your data. SSI is the key to true sovereignty on the web3.
Self-Sovereign Identity (SSI) means "self-determined identity". It describes an identity system in which you have full control over your digital identity data - without a central platform, without an intermediary.
On today's Internet, companies manage your identity. With Self-Sovereign Identity, you manage it yourself.
The central question is:
Who controls your digital identity - a platform or yourself?
What does SSI actually mean?
Ownership & control
- You are the owner of your data.
- No central authority stores or controls your access.
- You decide which data you pass on.
Security through cryptography
Your identity is mathematically secured. Instead of a platform login, you use a digital identity wallet.
Why is SSI necessary?
In the Web2 model, your data is stored in central databases. Platforms can block your access at any time, and data leaks affect millions of users simultaneously.
Self-Sovereign Identity solves these structural weaknesses by separating the identity from the provider and assigning it to the user.
The technical functionality
1. decentralized identifiers (DIDs)
Unique, blockchain-based identity identifiers that are not assigned by a central authority
2. verifiable credentials
Digitally signed proofs - e.g. ID confirmations, certificates or memberships.
3. digital wallet
You save your proof of identity yourself and only share the information that is really necessary.
Example: Proof of age
Instead of revealing your full date of birth, you simply confirm cryptographically: "I am over 18."
Web2 vs. Self-Sovereign Identity
Classic Web2
- Login by e-mail & password
- Platform stores all data
- Provider controls access
Self-Sovereign Identity
- Wallet-based identity
- Cryptographically secured
- You control distribution & access
Strategic relevance
SSI is not a marginal phenomenon, but the core component for Web3 infrastructures, decentralized financial systems and tokenized assets. Without digital identity, there is no real digital sovereignty.
You go from being a registered user to the owner of your digital identity.
Contact for queries
Your contact person: Sven Oliver Matuschik