POSTER: Towards an Identity Authentication Layer in CBDC Networks using Self-Sovereign Identities
João Pedro Alonso Almeida, Rodrigo Dutra Garcia, Gowri Sankar Ramachandran, Jó Ueyama · 2024
Central Bank Digital Currency (CBDC) is the digital form of a country’s fiat currency, based on Decentralized Ledger Technology (DLT). The increasing interest in CBDCs raises the concern of how to verify user’s identities for achieving regulatory demands, while maintaining user privacy in the CBDC Network. In this paper we explore Self-Sovereign Identities (SSI) as a way for users to have full control over credentials issued by trusted Financial Institutions in a CBDC Governance Framework. These credentials can then be used to generate privacy-preserving proofs by their holders to authenticate them in different service providers in the CBDC Network.