A Self-Sovereign Identity (SSI) Trust Anchor is a trusted entity within an SSI ecosystem that is responsible for issuing and verifying digital credentials. In other words, a Trust Anchor acts as a gatekeeper, ensuring that only legitimate and verified credentials are added to an individual’s digital identity.
To become an SSI Trusted Provider, a company must meet certain criteria set by the SSI ecosystem in which it operates. These criteria may include demonstrating expertise in the technology and processes involved in issuing and verifying digital credentials, complying with relevant data privacy and security regulations, and demonstrating a commitment to ethical and transparent business practices.
Becoming an SSI Trust-Anchor can generate revenue for a company in several ways. Firstly, as a Trust Anchor, the company can charge fees for issuing and verifying digital credentials on behalf of individuals and organizations. These fees can be based on a per-credential or per-user basis, depending on the Trust Anchor’s business model. Secondly, being a Trust Anchor can create new business opportunities for the company, such as providing consulting or training services to other organizations looking to become Trust Anchors. Finally, being a Trust Anchor can enhance the company’s reputation and visibility within the SSI ecosystem, which can lead to new partnerships, collaborations, and revenue-generating opportunities.
SSI Trust anchor companies
It is challenging to provide an accurate analysis of the earnings of SSI Trust Anchor companies as they are relatively new and not yet widely adopted. Additionally, as the SSI market is still in its early stages, there are only a few companies currently offering SSI Trust Anchor services.
However, here are some companies that can be considered as competitors in the SSI Trust Anchor market:
- Evernym: Evernym is a leading SSI company that offers a range of solutions, including Trust Anchor services. The company has partnerships with several organizations and governments, and its products are used in various industries, including finance, healthcare, and education. While Evernym does not disclose its earnings, the company has raised over $30 million in funding and has been valued at over $100 million.
- Sovrin Foundation: The Sovrin Foundation is a non-profit organization that provides SSI infrastructure and Trust Anchor services. The organization is focused on creating a decentralized and open-source SSI ecosystem, and its products are used by several organizations and governments worldwide. While the Sovrin Foundation does not disclose its earnings, the organization has received funding from several sources, including the United Nations, and has partnerships with several companies and organizations.
- uPort: uPort is a decentralized identity platform that offers SSI services for individuals and organizations. The company’s products are used in various industries, including finance, healthcare, and logistics. While uPort does not disclose its earnings, the company has raised over $5 million in funding and has partnerships with several organizations and governments.
- Civic: Civic is an SSI company that offers a range of solutions, including Trust Anchor services. The company’s products are used in various industries, including finance, healthcare, and retail. While Civic does not disclose its earnings, the company has raised over $40 million in funding and has partnerships with several organizations and governments.
Overall, while the earnings of SSI companies are not yet well-known, these companies are well-funded and have partnerships with various organizations and governments. As the adoption of SSI continues to grow, we can expect to see an increase in the revenue and earnings of these companies.