Re: [identity-credentials] Clarity of definitions: Credentials, unbound identity, identity hardening, and bound identity

Hi Erik,

Do you think identity hardening is an essential part of the payments
process (at the time of payment)?

I would propose that it can be done seperately and that a user can present
an identity document during a payment that contains credentials as required
for the payment to be processed and the document itself is signed by an
entity that is trusted to have done the necessary hardening.

I am trying to get away from a scenario where we think a payment can only
be made if the participants have specialised technology at their disposal
at the time they wish to transact.

Adrian

On 26 May 2015 at 23:22, Erik Anderson <eanders@pobox.com> wrote:

> Please comment on the below definitions. I hope this adds clarity to the
> identity process.
>
> Credential: Is a professional or personal qualification, achievement,
> quality, or piece of information (governmental, official, legal or
> industry) about the background of an individual or entity such as a name,
> home address, government ID, professional license or designation, or
> university degree, typically used to indicate suitability. The use of
> credentials to demonstrate capability, membership, status, and minimum
> legal requirements is a practice used in society for ages to inspire trust
> and loyalty towards those accountable to a generally accepted responsible
> authority, institution or company.
>
> Unbound identity: is a tokenized form of credential(s) created for an
> individual(s) which cannot hijacked and/or extracted from the unbound
> identity token by an unauthorized user be it for unintended  or intended
> purposes.
>
> Identity hardening: is the marriage of credentials and technology by way
> of a process where an unbound identity is combined with technologies
> (geolocation, biometrics, multi-sig, hardware devices and hardware tokens)
> to confirm that the unbound identity and the person connected to the
> technologies are one and the same.
>
> Bound identity: is a hardened form of an unbound identity.
>
> NOTE: Identity and Credentials together and combined legal entities and
> individuals, create the lego building blocks that shape the matrix that
> facilitates the efficiency in the automation of KYC/AML whilst reducing
> layers of friction and costs. It is incumbent however upon the the
> financial institution, insurance company or service provider (if they so
> choose) to be ultimately responsible for the final hardened identity and
> its assurances.
>
> Erik Anderson
> Bloomberg R&D & W3C Web Payments IG/SG
>
>
>