User Identity Verification in CBDC Networks Using Self-Sovereign Identities

• Grant number: 23/17002-8
• Support Opportunities: Scholarships abroad - Research Internship - Scientific Initiation
• Start date: March 25, 2024
• End date: July 24, 2024
• Field of knowledge: Physical Sciences and Mathematics - Computer Science - Computer Systems
• Principal Investigator: Jó Ueyama
• Grantee: João Pedro Alonso Almeida
• Supervisor: Raja Jurdak
• Host Institution: Instituto de Ciências Matemáticas e de Computação (ICMC). Universidade de São Paulo (USP). São Carlos , SP, Brazil
• Institution abroad: Queensland University Of Technology, Australia
• Associated to the scholarship: 23/08782-0 - Blockchain-Based Self-Sovereign Identity Management System for Financial Institutions, BP.IC

Abstract

A Central Bank Digital Currency (CBDC) represents a digital version of a nation's official currency, utilizing Decentralized Ledger Technology (DLT). The growing interest in CBDCs has raised concerns about how to validate user identities to meet regulatory requirements while safeguarding user privacy within the CBDC Network. This research explores the concept of Self-Sovereign Identities (SSI) as a means for users to maintain complete control over the credentials issued by trusted Financial Institutions within a CBDC Governance Framework. These credentials can then be employed by their owners to create privacy-preserving evidence, enabling them to authenticate themselves with various service providers within the CBDC Network.