• Why now?
  • most govs have digital ID systems and programs
  • tech is ready
  • genAI creates new challenges of deepfakes → need for proof of personhood
  • AI agents will do actions on your behalf, they need to a way for granular programmable authorization
  • as money and assets become digital, security and auth is the key (AA, biometrics)
• SSI is still missing a winner. Disco, Spruce and Intuition raised at bloated valuations but failed to crack the market (I love the founders but the market is hard)
• Drivers
  • AI & deepfake proliferation
  • reputation costs (a.k.a. tx costs for establishing trust) are surging in digital (cyber) economy
  • zk and FHE are primary drivers for ID use cases
  • more opportunities to make money issuing creds (reputation)