lifeID foundation announces partnership with RChain Cooperative
Economic incentives, perhaps one of the greatest human innovations, is the lynchpin of the lifeID Platform.
Self-sovereign identity platforms must have built-in incentive mechanisms to ensure the ecosystem grows. Incentives also ensure ongoing SLAs to support identity ownership and management for the life of the user.
An Open and permissionless platform is a definitional requirement for building a self-sovereign identity service. It’s essential that anyone, anywhere in the world can use the identity service, restriction free. The most important reason for this open access is to prevent an identity holder from ever being denied use of their digital identity for any reason.
It’s essential that identity holders can participate in the governance of their identity infrastructure. The governance mechanisms must be both transparent and clearly communicated. Transparent governance builds a strong community by demonstrating fairness and accountability. Governance cannot truly be fair unless the mechanisms are described consistently and clearly to the community and stakeholders.
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