Date: Thu, 28 Mar 2024 12:43:10 +0000 (UTC)
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EFWG 2022-04-28 Meeting - cheqd
EFWG 2022-04-28 Meeting - cheqd
Meeting Schedule
Attendees
Agenda Items
- Welcome & Introductions
- EFWG Community Topics
- Presentation - cheqd, Tobias Halloran
- Q&A
Meeting Recording
Meeting Notes
- Presentation - Tobias Halloran, cheqd
- Q&A
Welcome=
& Introductions
- Invitation to all members to join the task force for the Ecosyste=
m Governance Template (especially to find a task force leader)
=
li>
- There is a published governance meta-model which is the table of =
contents for a governance framework for all layers of the trust over IP sta=
ck
- Task forces are being launched for each layer so we can become mo=
re specific in the governance specification at each layer of the stack
- We are looking for a leader of this task force to drive the creat=
ion of the layer 4 specific governance framework
- Deliverable - specific governance framework - timeline: none spec=
ific, time is of the essence.
- To be a viable organization we need to lead and the marketplace n=
eeds this deliverable. The market will develop their own otherwise.<=
/li>
- We have already implemented guidance around risk assessment and t=
he governance will address specific risks at the ecosystem layer and that w=
ill drive requirements of the governance
- A great education opportunity for members
- Business model and UI/UX - we are seeking ideas from members for =
possible presentations which are of interest to the community
Presentation - Tobias Halloran, cheqd
- How cheqd's partnership network supports application developers -=
Tobias Halloran
- This presentation is not about a technical focus on standards and=
interoperability. It is about cheqd partnership ecosystem to build out tru=
st ecosystems
- There are no current live use cases on cheqd
- Cheqd - a tokenized network for SSI
- leverage partnerships to help with the cold start problem (nobody=
goes to a party when the room is empty)
- SSI is being adopted globally - but the cold start problem - how =
do you scale a the fit after you've got a product
- This is a general problem of startups
- Having a great technological solution typically isn't enough - it=
isn't enough for customers to move away from POC to move into live product=
ion and scaling properly
- Lack of commercial models are constraining SSI group
- Observed recurring problems - clients are asking what the commerc=
ial model is, firms building dedicatedprivate networks, projects stuck in p=
ilot mode
- cold start problem - lack of network effects - which is why most =
new networks and start-ups fail
- web2 solution - participants co-create value for the platform (li=
ke Airbnb) - governance and intrinsic value of the company is centralized (=
in Airbnb in this example)
- This is a feature of some of the most valuable companies=
li>
- web2 network effects - they took a sparse network and put themsel=
ves as the enabler of the entire network
- cheqd - incentivize participants to co-create value as part of ne=
twork infrastructure and governance
- Do this through a variety of mechanisms
- Members are invited to participate in governance
- Business on this model of network will be shared (unlike the Airb=
nb model where the network value accrues just in Airbnb)
- Core value utility of cheqd - a payment rail for SSI
- Incentivizing organizations with data silos to release that data =
to individuals and join SSI. This benefits everyone in the SSI ecosystem
- Goal is not to be a payment siloed network
- Cheqd is a tokenized network that means they can offer incentives=
to encourage other infrastructure members to invite other external members=
to join and contribute
- Multiple ways members in the network can be incentivized includin=
g as consultants, system integrator, node operators etc.
- This is a work in progress, in development
Q&A
- Can the network survive without cheqd? - can't make that promise =
but the governance documentation describes how in the future the governance=
would become decentralized and cheqd would become just another node on the=
network, but some entity would need to maintain the governance.
- How do you avoid free rider problems or other gaming incentives -=
tricky in a decentralized ecosystem so they don't want to be specifically =
choosing who can become a node but they do have tiers of grants and can set=
requirements such as requiring contributing membership to an external orga=
nization such as DIF or ToIP etc.
- how does a specific use case work in the cheqd network? - e.g. me=
taverse (an uncrowded, currently undeveloped field) - a SSI vendor has been=
developing SSI avatars that can port reputation. Cheqd understands the use=
case from an end user. Cheqd can then connect them to other partners that =
is an SSI vendor that can work with the specific (avatar) use case. They ca=
n be matched and use the cheqd network to build the partnership and then th=
ey will ultimately have the opportunity to join the network
- How does the use of payment rails let you keep the interaction be=
tween verifier and holder without going back to the payment rail (centraliz=
ed who will see all interactions)
- it is not necessary that payment is released each time and theref=
ore the payment rail is not accessed.
- Or aggregate payments that remain in eschrow which when processed=
protect the privacy
- Phil: "Consortia" - ecosystem members that organize within the ne=
twork amongst themselves, perhaps with common legal/commercial terms. Is a =
"Consortium" defined by the platform operator or does it emerge independent=
ly?
- On the Indy network there is a limit on the number of nodes. Does=
cheqd have a similar limitation on Cosmos which is the base of cheqd
- Cosmos does not have the same limitation as Indy, it can be scale=
d up
Admin Reminder : remember to re-subs=
cribe to new meeting calendar
If you want your name on the invite, reach out to El=
isa Trevino (on slack), she will put your name in the calendar invite t=
o make sure that the invite is sent out each time.
Coming up =
h2>
- Next presentation: Tkyn - 12 May 2022
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