Sovrin

Sovrin

Created using Figma
Created using Figma
The Internet was originally designed for one thing – to allow machines to communicate with one another. As a result, machines have identities on the Internet, but people don’t. This stunts communication and trust while adding enormous complexity, costing the global economy hundreds of billions of dollars each year.
Risk: High
Token Sale
Aug 1, 2018
Aug 31, 2018
100% completed
Raised funds - no Data
past
Company Details
Registered Country
United States
Additional Details
Categories
Other

About Sovrin

The Sovrin Foundation is a private-sector, international non-profit that was established to govern the world’s first self-sovereign identity (SSI) network. The Internet is missing a layer for secure identity which is currently costing us hundreds of billions of dollars each year. The Sovrin Foundation is showing the world that when we control our own identities, many exciting and liberating possibilities are at our fingertips.

Providing an enduring solution for global identity requires significant effort and careful planning. The Sovrin Foundation exists to provide the human governance and trust frameworks that will be needed to establish ground rules and ensure the integrity of the network. To be effective at this task, the Sovrin Foundation has been designed to establish trust through transparency, diffusion, and neutrality.

The Sovrin Foundation has intentionally invited board members to represent expertise from across multiple industries and geographies, ensuring that special interests – whether commercial, governmental, or otherwise – do not unduly influence decisions. Our intent is to devise a process so that the elected Board of Trustees will be representative of the people and organizations who own identities on the Sovrin network. Furthermore, the Technical Governance Board will oversee the evolution of the open source code run by each node.

Sovrin Foundation is a non-profit. We don’t actually own the network – no one does, much like the Internet itself. The Sovrin network is public: everyone can get a Sovrin identity. Individuals and organizations own and control their identities. The Sovrin network is permissioned: the infrastructure for ensuring consensus on identity transactions is provided by carefully vetted and permissioned stewards who independently own and operate their nodes on the network. These combine to form a system of checks and balances that earns trust through action rather than promises.

We are the Sovrin Foundation.

Activity

Followers:
7 478
HIGH
Tweets:
3 498
VERY HIGH
30 Days Growth:
68

Sovrin Team

Verified 0%

Attention. There is a risk that unverified members are not actually members of the team

Rondle Amstutz
Vice Chairman, Sovrin Foundation; Executive Vice P...
unverified
Phillip Windley, Ph....
Chairman and President, Sovrin Foundation; Office...
unverified
Drummond Reed
Secretary, Sovrin Foundation; Chief Trust Officer,...
unverified
Tim Brown
VP of IT Innovation Research and Development, USAA
unverified
Mawaki Chango, Ph.D.
Founder & Managing Director, DigiLexis Consulting
unverified
Heather Dahl
CEO & Author, CynjaTech
unverified
Jason Law
Chair of Technical Governance Board, Sovrin Founda...
unverified
Bram Neuteboom
Co-Founder, Qiy Foundation
unverified
Antti Poikola
Researcher at Aalto University, Founding Member of...
unverified
Joyce Searls
Co-Founder, Searls Group
unverified
Kazue Sako, Ph.D.
Senior Engineer, NEC
unverified
Bryan Pon
Research Director, Caribou Digital. Chair, Identit...
unverified
Peter Simpson
Founder & Director, iRespond
unverified
Daniel Hardman
Secretary of TGB, Sovrin Foundation; VP Engineerin...
unverified
Manu Sporny
Founder & CEO, Digital Bazaar
unverified
Dave Longley
Co-Founder & CTO, Digital Bazaar
unverified
John Best
CEO, Best Innovation Group
unverified
Markus Sabadello
Founder & CEO, Danube Tech; Co-Chair, OASIS XDI Te...
unverified
Samuel M. Smith, Ph....
Founder, ProSapien LLC; Founder, Xaltry
unverified
Susan Bradford
TGB Facilitator
unverified
Jan Camenisch
Principal Research Staff Member, IBM
unverified

Sovrin Last News

3.42
risky+
5.0 0
ICO Profile Vision Activity Potential Product Team

Sovrin Reviews

icoscoring.com
ICO review website

The main competitors of Sovrin are KYC platforms, such as Coinfirm, KYC Legal, Civic.

The Core product was developed by Evernym, not by Sovrin. Evernym - the company predecessor of Sovrin - started working on a blockchain solution for self-sovereign identity in 2015. Evernym has existed for several years and is already working with clients like The US Department of Homeland Security, R3, the country of Finland (through the MyData initiative), and a number of leading global financial institutions including the entire U.S. credit union industry. It has a fully up and running business development function staffed by senior professionals in both North America and Europe. 

Sovrin will form a marketplace where any source of trust—from a government to a family—can be exchanged for value. And those who have earned that trust—the identity owners—can now benefit from the ability to transfer that trust to other relationships. Verifiers, for their part, can now take advantage of a vastly expanded marketplace for trust information—a marketplace in which issuers are constantly competing to fill any “trust gaps.”

The token metrics have not been yet disclosed and will be available by the public sale announcement. Most of the team members had corporate careers and do not have previous startup experience. The core team members do not have blockchain experience.

Read More
cryptocalibur
review

Size of Potential Market
While there appears to be a high number of projects trying to address the area of decentralized identity management, there is still a sizeable market for the Sovrin team to target, and they may not face as much direct competition as might first be expected from smaller projects such as Remme and Verime. The high number of operators in the digital management sector illustrates that it is one of the more viable use cases for blockchain technology and any project that provides a secure platform that gains a significant amount of adoption can be expected to appreciate considerably in value.
In addition, the team state that a worldwide standard format for digital credentials should have a far-ranging impact, and to be truly universal, a blockchain for SSI must operate as a global public utility. Therefore the scope of the project is huge as the team attempt to influence the tech world in the same way as standardized network packets enabled the Internet, and standardized hypertext pages enabled the Web. Sovrin envisions a world where standardized digital credentials enable a global ecosystem of credential issuers, owners, and verifiers.
Furthermore, the team quote the World Bank’s 2017 ID4D (Identity for Development) “Counting the Uncounted” census, and declare that one seventh of the world’s population has no legal identity today. As a result, Sovrin is attempting to build a self sovereign identity solution that will be implemented all over the world.

Transparency
The Sovrin whitepaper focuses on the reasons behind the project and the technological solutions, and commercial opportunities that surround the project. With regards to transparency, the whitepaper is lacking in certain areas, as there is no information on token metrics or any team members. However, these issues are addressed in other documents or made public online.

Technology
The whitepaper covers a number of key technological aspects including how the Sovrin system is built around a purpose-built blockchain and incorporates DIDs, verifiable credentials, and zero knowledge proofs.

Vision
The team seem to be entirely focussed on achieving results in real time, and by drawing attention to the Alliance and Foundation; they appear to be working toward their goal of adding to their collection of early adopters and stewards.

Read More
https://icopools.io
analysis

Market Competitive environment:
Project aims to work on several markets with strong teams, well funded companies and polished infrastructure:
Identity and Access Management - $8 billion (Orbis Research);
Cybersecurity - $86 billion (Gartner);
RegTech - $70 billion (Let’s Talk Payments);
Data Integration - $6 billion (Markets and Markets).
Direct competitors in the blockchain sector:
Civic - raised - $33M, capitalization – $64,1M, ROI USD - 1,83x;
Ontology – raised amount is not disclosed, capitalization – $595M, ROI USD – 19,69x;
TheKey – raised $22M, capitalization – $42,8M, ROI USD 0,26x;
SelfKey – raised $21,7M, capitalization – $34,9M, ROI USD 1,01x.
But Sovrin has strong plans for how to reach goals on each market. And with the current team the possibility to achieve goals is high.

The project advantages:
Well developed technology;
Strong team;
On the blockchain will be stored only DIDs (not private data like passport, driver ID, etc.);
Step forward for the global digitalization;
Parties, who will manage credentials (HRs, users themselves, etc.) will be rewarded for their work with Sovrin token;

SOCIAL ACTIVITY
The project popularity in the social networks and discussion forums
The project is detected on the radar of influencer Ian Balina.
Twitter: 5,1k followers, average number of likes per post is 10, average number of retweets per post is 4, average number of comments under the post is 1, user activity is low.
Medium: 499 followers, the average number of likes per post is 70 without any discussion in the comment section, user activity is low.
Telegram (chat): 14,7k members, admins on the Telegram-channel are responding slowly, user activity is medium and looks natural.
Telegram (announcement channel): 3,9k followers, there are only 2 posts, that was made this year, the last post was in March

Read More
primei.co
review

Strength and Opportunities:
Blockchain technology is very well suited for this use case, because it helps to avoid data breaches. Sensitive data is no longer stored in a centralized database at the supplier of a service or at a large software company such as Facebook and Google. People and economies can be better protected from the effects of cybercrime. Sovrin wants to provide a digital identity for those who do not yet have any type of identity. Sovrin’s mission is to provide a cheap and accessible identity for everyone. This enables Sovrin to deliver a solution targeted especially for people in developing countries.
Weaknesses and Threats:
Building blockchain based digital identities is one of the trending topics in cryptocurrency. Hence there is a lot of competition in the field. uPort and Endpass are solutions build for Ethereum. TheKey is an identity verification solution for the Neo platform. On top there are other independent platforms such as selfkey.org. The examples mentioned are just a few and not a complete list. There is a lot of competition in this space. Obviously there is a need for an identity management solution on the blockchain, but it will be difficult to dominate this market. A part of the executive team seems to be either very recent in this position or has substantial other responsibilities. This may negatively impact the execution of the project.
Verdict:
Sovrin is already at an advanced staged compared to most other projects at the ICO stage. It is clearly visible that there is a necessity for the service that Sovrin is providing. However, investors in the Sovrin ICO need to consider the strong competition in the field. In 2018 it is not yet possible to foresee which blockchain based identity management solution will be the dominant one in the future.

Read More
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