Exploring self-sovereign identity (SSI) services : a business model canvas analysis of leading SSI companies

Abstract

In recent years, the concept of self-sovereign identity (SSI) has drawn a lot of interest as a possible solution for the problems associated with managing digital identities. SSI aims to guarantee privacy and autonomy by giving people more decentralized control and security for their personal data. In this thesis, the field of Self-Sovereign Identity (SSI) services is examined, along with its importance and applicability. The thesis analyzes the business models of well-known SSI businesses using Business Model Canvas (BMC) and highlights their major strengths and competitive strategies in the newly developing SSI industry. By providing insights into the foundations and driving forces underlying the SSI business models and emphasizing the SSI's significance in the digital era, the thesis makes contributions to theory and practice. It gives a thorough grasp of the business models used by SSI organizations, empowering practitioners to use these insights while creating and implementing SSI services. SSI and its ramifications are better understood overall because of this study, which bridges the gap between theoretical ideas and real-world implementations in the field of identity management. This thesis not only provides a comprehensive analysis of leading SSI companies using the Business Model Canvas but also offers valuable insights for new entrants interested in the SSI market. By leveraging the knowledge gained from this research, entrepreneurs can navigate the evolving landscape of digital identity management and contribute to the advancement of SSI services.