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1 | ecosystem use cases | - compatibility issues (technical, policy)
- cannot solve compatibility and end up with silos
- we cannot cope with the "stability" of paper (issuance, but also verification)
- we cannot provide good enough usability → silos for fixing this
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2 | credential flow | - other standards and architectures are imposed on us, requiring us to change a lot
- not good enough user-friendliness makes the wallet-ecosystem fail as a whole
- GAFAMs to impose their way (including browsers as "their" tool, interference with their business interests)
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3 | credential governance | - how about other governance models being forced upon us?
- intermediaries trying to keep their influence
- overcoming national borders might impose barriers
- failing to communicate the new "VC world" to end users and those engaged in the process
- if usability is missing, the trust governance cannot be communicated appropriately
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4 | Wallet and protocol governance | - Most EU standarisation is behind closed doors and politisized
- Unclear how EUDI will be goverened in the future
- Unclear how much impact EUDI will have. If it does not go beyond Government based data, our sector will maybe create a parallel ecosystem
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Based on the above definition and the risks mentioned in the table, this classification is presented. That includes other aspect of risk as well.
Suggested Risk Categories:
- Financial
- Companies with centralized Identity on the way of decentralization (GAFAM)
- Competing technology
- Marketing
- Environmental cost
- Funding
- Legal
- Governments Rules
- International Compatibility (ex. GDPR)
- Misusing of DID
- User Responsibility
- Strategic
- Dependency
- Intermediaries
- Acceptance
- Engagement (Exposure to Governance Rules )and standards
- Usability
- Acceptance
- Interoperability (Standards and Protocols)
- Integration
- Communication (Marketing)Ontopiness
- Security
- Physical vulnerabilities (Device lost)
- Protecting data
- Losing data
- Dark Net
- Trust InfrastructureProtecting sensitive data
[1] What is Risk Management? | IBM