Self sovereign identity (SSI) integration into crypto wallets

[GENERAL] Name and Surname of Main Applicant

Hristo Koshev

[GENERAL] Email address of Main Applicant

hristo.koshev@quanterall.com

Additional Applicants

Name | Role | Role in the Project

Hristina Bakardzhieva | Project Coordinator | Project Coordinator

Hristo Koshev | Software Developer | Team Lead

Vladislav Tonev | Software Developer | Software Developer

Ahmet Ahmedov | Software Developer | Software Developer

Alper Aydan | Software Developer | Software Developer

Patricia Toreti | Marketing Specialist | Analyzing trends to help define the organisation's marketing strategy

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

5

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.

No

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

Yes

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.” in this field.

1. Our solutions depends on our updated clone of: https://github.com/rodolfomiranda/sidetree-cardano our repo is https://github.com/averato/sidetree-cardano
2. Our Did-Tools library for managing DiD on Cardano Blockchain via Sidetree protocol: https://github.com/averato/did-tools
3. We also have a Proof of Concepts solutions for storing and shearing invoice information on Cardano Blockchain: https://github.com/averato/cardano-invoices-poc

[GENERAL] Will your project outputs be fully Open Source?

Yes

[GENERAL] If NO, please describe which outputs are not going to be open source. If YES, please write “Project will be fully open source.” in this field.

Project will be fully open source.

[METADATA] Category of Proposal

Identity Solutions

[IMPACT] Please describe your proposed solution.

As a step of development of our Cardano Invoicing System that utilizes DiD (Distributed ID) infrastructure, to permanently store timestamped invoices informaition on IPFS (Content Addressable Storage), we will need users to hold and be able to present their DiD as NFT in their crypto wallets.

For more information of our Cardano Invoice System, please visit:

https://cardano.ideascale.com/c/idea/102279

Detailed sequence diagram of our Proof of Concept, could be found here:

https://drive.google.com/file/d/1pKHnUP8glaSdnc46ulTFpOKZbVSYFzFe/view?usp=drive_link

[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

The integration of Self-Sovereign Identity (SSI) into crypto wallets can offer several advantages:

• SSI wallets provide users with greater control over their personal data.
• The users can conveniently manage their cryptocurrency holdings and digital identities within a single application, eliminating the need for separate wallets and authentication processes.
• SSI wallets enable individuals to prove their identity without sharing unnecessary personal data. This can be beneficial when conducting transactions on blockchain networks.
• Integrating SSI wallets into crypto wallets can assist in meeting regulatory requirements related to Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols.
• SSI wallets empower people by giving them control over their personal data. Users can decide what information to share, with whom, and for what purposes, allowing for a more user-centric approach to digital interactions.

[IMPACT] How do you intend to measure the success of your project?

1. Integration of DID / SSI as NFT will give options for Business Owners to use Cardano Blockchain, which will boost the overall popularity and TVL on the Cardano Blockchain
2. We going to provide Cardano users to use DiD connected NFTs to various transaction and will allow this transaction to be subject of KYC and AML requirements.
3. Also we going to provide application for storing and sharing Invoice information on the Cardano Blockchain

[IMPACT] Please describe your plans to share the outputs and results of your project?

Our solutions will be open source and could be used openly, but we will also provide this as service to interesting customers, as part of bigger solution for business tools to use Cardano Blockchain.

[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?

We have a great, motivated team with more than 40 years combined IT and more than 10 years combined crypto & Cardano experience. 

[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?

Integration of SSI / DID as NFT will give to crypto wallets owners the opportunity to comply with KYC / AML regulation in given countries.

This could lead to better solutions on the Cardano Blockchain directed to Small businesses around the world and better visibility to Cardano Community as whole.

[CAPABILITY/ FEASIBILITY] Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

T1.1: Integrate our solution with Sidetree DID solutions and store DID - will take 4-5 weeks

T2.1: Integration of DiD enable wallet with Crypto wallet to be able to operate with both resources

• Developing a library to integrate DID with regular Crdano crypto wallets - 6-7 weeks
• Smart Conctract to issue NFT DID and tooling around it - will take 2-3 weeks

T3.1: System-level designs and integration 3rd Parties could request access to encrypted Invoices - will take 4 -5 weeks

[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.

• Repository with updated Cardano-Sidetree updated to latest Sidetree protpcol and working with Deno environment
• Application to store Business Invoices on Cardano Blockchain
• DiD Tools library to easily integrate DiDs NFTs with your crypto wallets

[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.

Library development and integration of DiD library in an open source Crypto Wallet

Budget: € 130 000 (4 developers persons * 100/h per month for 5 months, € 65 per hour).

Specific expenses related to the infrastructure - cloud hosting.

Budget: € 10 000 for one year.

Other costs for publicity / marketing plan/ promotion (online advertising)/ community engagement; project management; documentation; and reporting back to the community -

Budget: € 10 000

Total: € 150 000

[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

1. Integration of DID / SSI as NFT will give options for Business Owners to use Cardano Blockchain, which will boost the overall popularity and TVL on the Cardano Blockchain
2. We going to provide Cardano users to use DiD connected NFTs to various transaction and will allow this transaction to be subject of KYC and AML requirements.
3. Also we going to provide application for storing and sharing Invoice information on the Cardano Blockchain

[IMPORTANT NOTE] The Applicant agreed to Fund10 rules and also that data in the Submission Form and other data provided by the project team during the course of the project will be publicly available.

I Accept