Decentralized identity (DID) embodies "Privacy by Design" by enabling minimal data collection, user-controlled sharing, and encryption. Verifiable credentials (VCs) contain only necessary attributes (e.g., "over 18" vs. birth date), reducing exposure. Users store VCs in self-custodial wallets, deciding when and with whom to share data. Blockchain’s immutability ensures auditability without central control, while zero-knowledge proofs allow validation without revealing raw data, aligning with privacy-first principles from inception.
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Cooling-off periods for credential revocations: Cooling-off periods for credential revocations are not standard across all systems. Some may have a short period, like a few hours or days, during which the revocation can be reversed. This allows for accidental revocations to be corrected. Others may have no cooling-off period, making revocations final once processed.
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Smart contracts automate renewal reminders based on expiration timestamps in VCs. Users submit renewal requests via DID-signed transactions, which issuers approve after verifying updated attributes (e.g., renewed licenses). Some credentials auto-renew if criteria are met (e.g., recurring subscriptions). Offline users receive batch renewal options once reconnected. Revocation lists are updated simultaneously to maintain consistency.
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