Stephan_Wolf: Recording is on. ✪

Harrison_Tang: Hello everyone welcome to this week's w3c ccg meeting uh today we're very excited uh to have Stephen W the CEO of Life uh Global legal entity identifier Foundation uh to actually uh come here join us and present their latest initiatives uh before that I just want to quickly go through uh our regular agenda uh first of all just a quick uh reminder on the code of ethics and professional conduct just want to make sure that we have and we hold a respectful conversations and constructive uh conversations. ✪

Harrison_Tang: Quick note on the intellectual property anyone can participate in these calls however all substantive contributions to any ccg work items must be member of the ctg with full IPR agreements signed so if you have any questions in regards to uh getting a w3c account or the community contributor license agreement uh please uh reach out to any of the co-chairs. ✪

Harrison_Tang: Uh these meetings are being automatically recorded uh and transcribed uh we will try to uh publish uh the transcription the audio recording and the video recording uh in the next uh 1 to 2 days. ✪

Harrison_Tang: Uh we use GT chat toq speakers so if you have any questions uh or comments uh type in Q Plus to add yourself to the queue for Q minus to remove and I will moderate the uh the queue. ✪

Harrison_Tang: Right just want to take a quick moment for introductions and reintroduction so if you're new to the community or uh if you haven't been active in the community and want to re-engage uh feel free to just unmute and introduce yourself. ✪

Harrison_Tang: All right uh any announcements or reminders. ✪

<manu_sporny> CA DMV using Verifaible Credential: https://github.com/stateofca/opencred?tab=readme-ov-file#opencred-the-open-credentials-platform

Harrison_Tang: Thanks Manu this is definitely a very exciting and uh I've invited Manu to talk about it a little bit more on July 16th. ✪

Harrison_Tang: Right uh any other announcements or reminders. ✪

Harrison_Tang: Great question um any other announcements or reminders. ✪

Harrison_Tang: Any updates on the work items such as the rendering method confidence method. ✪

Harrison_Tang: Cool thank you thanks Manny. ✪

Harrison_Tang: Uh anything in regards to updates on the work items uh introductions reintroductions announcements. ✪

Harrison_Tang: Hello oh sorry I don't know what happened sorry about the technical difficulty here. ✪

Stephan_Wolf: Possess with you guys or was this my problem. ✪

<tallted_//_ted_thibodeau_(he/him)_(openlinksw.com)> big network hiccup!

Harrison_Tang: Now it's uh it's with the technical system I think uh. ✪

Harrison_Tang: Run this on the servers right monu so. ✪

Harrison_Tang: Great yeah we had some the issues earlier too so yeah I wonder uh what's happening but uh cool. ✪

Stephan_Wolf: Recording is on. ✪

Harrison_Tang: Great session please. ✪

Stephan_Wolf: So my my name is Stefan Wolfe I'm the CEO of gly for the last 10 years uh I'm going to set down in June and Alex cash who is my successor is hopefully in the call as well. ✪

Stephan_Wolf: Um but I will stay around in the area and uh do funny things with leis and bi so you might you might hear from me but for today I thought it would be best if uh if I would give you the presentation and a little bit of the Strategic aspirations and everything else that the system comes with um. ✪

Stephan_Wolf: This here is my 30th Anniversary for being on the internet. ✪

Stephan_Wolf: Um I have my first digital certificate like 26 years ago we issued them ourselves so I'm pretty familiar with the journey that we have gone through and I'm very excited about the current development and the industry and the standard bodies for verifiable credentials and having that said let's kick it in um my first uh intro would be a little bit about who we are live um in the aftermath of the financial crisis where nobody knew exactly whom they were doing business with um The Regulators around the world endorsed by the G20 Nation leaders decided to create a global business register. ✪

Stephan_Wolf: Since the global business fractures that cannot be a legal uh could not be anchored in the legal system of the country because there is no Global government they have chosen um this uh structure here where we have a regulatory oversight committee we have um life sitting in the middle managing the network of Lei issuing organizations the lusts of the next site you see how that works um life is not for profit Foundation um domiciled in Switzerland Switzerland was chosen as being a neutral ground. ✪

Stephan_Wolf: In the regulatory oversight committee there are 70 reg 71 Regulators from all around the world these are securities Regulators Insurance Regulators central banks like the fed the ESB the people Bank of China and many others plus we have a number of 20 Observer the IMF for instance the World Bank and and these kind of folks. ✪

Stephan_Wolf: Um since this is a public private partnership we have 15. ✪

Stephan_Wolf: Close to 16 independent directors they represent from all around the world the private sector they come from Banks they come from industry organizations they come from all kinds of other other shops. ✪

Stephan_Wolf: 1 of the directors came from Levi you know the jeans manufacturer and then so on and we all have the same ambition to Foster the Lei adoption on the global scale and then we do that with 38 Partners these are the issuing organizations the Registries if you like it's a Federated very decentralized system um. ✪

Stephan_Wolf: And up to date we have like 2.6 million alleys which is roughly 90% of global market capitalization meaning we have the big guys next round next thing is to go into the SME space. ✪

Stephan_Wolf: This is an Lei it's a very very basic set of data it's um 20 digit alpha numeric code here which is an ISO standard and then you see the name of the company where it's registered the registration number the jurisdiction the legal form which is an ISO standard that we maintain and lots of others you know um uh legal domicile headquarters address and what you see left and right here are the subsidiaries so we have a direct. ✪

Stephan_Wolf: Of the entity but also the ultimate uh uh uh Children of The Entity spanning the the Christmas tree as we call it for the hierarchy of an organization um the top window is what we call Level 1 business card information and level 2 that's the relationship data that we carry. ✪

Stephan_Wolf: The Lei is in use globally um predominantly through the means of regulatory mandates um. ✪

Stephan_Wolf: The uh the framework has started in the capital and money markets because that's where the Leman collapse actually you know um occurred in the first place but now we're we're spinning off into other territories like for instance payments supply chain and and so on and so forth so it's really it's really gaining ground and this is a little bit the the vision the triangle that we have in mind um whether you look at it from a finance point of view from a supply chain point of view or from the Internet is the as a network in between you always have the same issue and validation and mapping issues with identity um as we all know the internet was built without identity layer um we all want to to heal that I saw Drummond is on the call from Russell IP foundation so high government um so this is what we're all up against right um to mean to create a meaningful way to provide identity to corporate businesses around the world. ✪

<drummond_reed> Hi Stephan!

Stephan_Wolf: Um why do we need secure verifiable identity organizational identity well first of all having a a kind of like a seal for a company could be assert could be verified credential is not good enough because companies don't act they don't trade it's always people that trade and act on behalf of the company the CEO of life science the contract the CFO of Life files the financial statement and the procurement manager at life you know would purchase uh. ✪

Stephan_Wolf: Is from a. ✪

Stephan_Wolf: Come up later. ✪

Stephan_Wolf: And uh in all of these cases you need the verification of the individual and its role Visa V the organization uh he or she represents. ✪

Stephan_Wolf: And uh that in a verifiable way of course which means uh you need a high level of assurance um technical Assurance in this little case in order to know precisely whom you're doing business with. ✪

Stephan_Wolf: Um we follow the zero trust architecture Mantra um meaning never trust always verify this is a funny thing which is fun for you but when I go to my presentations to the industries the bankers the the the companies in corporates when I say zero trust that is very contradictive to what they hear everywhere else we need more trust right um I think we all mean the same we want trust through the means of verification so I can trust you because I can verify you and I can um verify the data that no 1 No 1 is tampered with. ✪

Stephan_Wolf: Very important zero trust architecture end-to-end verifiability and our mantra for the build out of the system was keep Security First so in all cases where there is a trade-off between convenience and security for instance we have always decided to put Security First. ✪

Stephan_Wolf: And this is how organizational entity looks like you have a cryptographic binding between the representative of an organization and in that binding you will find the authority that uh the representative has um on the right side you see Alice um working for Acme um has an employment ID which is a mapping to another identifier and the role is General partner. ✪

Stephan_Wolf: Authority for General partner um is. ✪

Stephan_Wolf: That's how easy it is that that's all there's nothing else that we could add to this um but this allows you to act on behalf of an organization now you can start to sign contracts you can send invoices you can um authorize payment messages you can purchase something all of these activities and business life uh um can be now fulfilled there and for you guys um also on the more technical side the same mechanism works for code signing file signing uh and all the other activities it's always the same thing you want to cryptographically bind the content to the private key of the owner. ✪

Stephan_Wolf: Here are some examples uh that we are very excited about um every company in the world must file a financial statement that is audited by the end of the year um so those organizations to retrieve those audits they need to know who is the CEO who is the CFO who is the general counsel and so on and so forth so that that's information that is required by the law that must be submitted by law. ✪

Stephan_Wolf: and today. ✪

Stephan_Wolf: We're we're now starting to see the first uh machine readable formats and xpel is an example for that um where people use that but the the the signing capability um that's what we add to the to the picture here that you can trust a financial statement that it really comes from the source and that no 1 has tampered with it. ✪

Stephan_Wolf: Another example Telecom providers Outsource uh to third parties a call center so you need to know who you're talking with really um and especially in the times of AI and gen AI you know with all the the possibilities now for fraudsters to kick in this becomes almost imperative uh for the future. ✪

Stephan_Wolf: Thomassie Healthcare Aviation supply chain in general there are lots of examples um but the sky is the limit I I would not assume that we are brilliant enough to consider all the options that are out there that's actually something that the market should decide they should build applications product make money with it and so on and so forth our job is to build the infrastructure for Global identification and Authentication. ✪

Stephan_Wolf: And this is how it works um a very fiber credential um here in this case the vlei is nothing but a digital representation of what we find in the real world we have the organization which is represented with the Lei you have the person which could be Stefan Wolfe. ✪

Stephan_Wolf: Um and you have to roll which could be um CEO. ✪

Stephan_Wolf: The Lei is clear that is the identification scheme for corporates but let's look at the other 2 let's start with roles um roles are very much defined uh for official representatives in the law of each Country and this is why ISO created a role standard um that life maintains where we. ✪

Stephan_Wolf: where we think. ✪

Stephan_Wolf: Each official role that is legally sound in the country so you have managing direct diversity versus you name it in the various in the various languages and countries and we maintain that standard. ✪

Stephan_Wolf: Now the person Stefan Wolfe that's a point where actually the you know the fun is just beginning to kick in because the person today is identified with passport or ID cards or or or or you know. ✪

Stephan_Wolf: Kind of like driving license and these kind of things and people use video ident and these kind of things in the future all this will be replaced with digital identity scheme so I have my in Europe for instance my Ida scheme I'm in the Ida S and I can you know um basically provide my identity through this search and then you would not have the name of the person anymore in the in the credential but rather for instance the public key of the circle. ✪

Stephan_Wolf: Um so this is the digital representation that you then um digitally um sign with your with your private key as a holder of this credential. ✪

Stephan_Wolf: Um very importantly this is not identity for individuals this is not we're we're not saying this is the idea of Stefan Wolfe Stefan wolf in this context might have multiple roles I might be CEO of life I might be board member in another organization I might be member of a sports club so I can have multiple roles and multiple credentials and I would choose my self Sovereign identity Mantra I would choose my wallet to identify myself in the right role in a certain context with that. ✪

Stephan_Wolf: How does it work um a very simple chain of trust has been implemented life being the root of trust endorsed by the G20 our job is pretty much to provide the infrastructure um for the root of trust. ✪

Stephan_Wolf: Framework we come to that in a second. ✪

Stephan_Wolf: Um qualified vlei issuers um the closest analogy to that would be a certificate Authority for instance um qualified Dia issues go through a very rigid um scanning and audit program um pretty much you know like web trust and others do it we want to make sure that the qualified dlei issue has really fit for purpose in all of the aspects they also have to demonstrate that their software is fit for purpose we we run we run walkthroughs and checks there as well to make sure that the qualified D issues adhere entirely to the governance framework that that we put in place. ✪

Stephan_Wolf: now as. ✪

Stephan_Wolf: Um the qualified vlei issuers now issue credentials to organizations. ✪

Stephan_Wolf: Fields for instance right it's not life that that is doing that work it is the qualified de issue and Essay are many of them uh in parallel you know customers could pick and choose to which qualified the early issue they would like to go to obtain the V. ✪

Stephan_Wolf: But it doesn't stop there the organization themselves the organization themselves can issue credentials now at a very decentralized way and uh when we talk about personal representing organizations let's let's think about all of the roles in a company that are not official and a lot of the business register think of a procurement manager a Communications manager I I don't know driver of a truck all of these people could get credentials from the organization. ✪

Stephan_Wolf: Difference between those credentials and the V our credentials that I mentioned before the official credentials is that all of this says in the private part of your organization and the individual so the vase of the company the Lei that is all public knowledge that is open open knowledge but when it comes to the people then this is completely entirely um decentralized for instance you could keep your your role credential in your wallet and exchange peer-to-peer with somebody else and there's no Central repository there's no Central blockchain there's nothing like that uh where you could go to to um. ✪

Stephan_Wolf: Get a full picture on who is on the system however as this is a chain of trust and we talk about chain credentials in a minute um all of these credentials can be you know followed backward to the root of trust so you can prove that a person works for this organization and that this organization has been checked and verified by an issuer and that the qualified FBI issuer has been accredited and qualified by life. ✪

Stephan_Wolf: It doesn't stop there uh the term credential is a little bit misleading because when we talk about credentials we we talked about containers holding personal information like. ✪

Stephan_Wolf: Passport information but actually every piece of data could be put in a container could be a bill of Lady it could be an invoice could be I don't know an airway bill um a flight ticket um. ✪

Stephan_Wolf: Organizations can use the system to spawn off additional credentials. ✪

Stephan_Wolf: Things to also in AI could get an A credential for instance from the organization itself so it's it's really a way how you can build decentralized applications where every piece of the information follows the zero trust Mantra without a central organ without a central database or a central uh uh uh cloud or Central Ledger or whatever. ✪

Stephan_Wolf: It's pretty amazing stuff uh I've not seen this anywhere else and this is you know driven by the underlying technology and standards that we're using we come to that in the moment. ✪

Stephan_Wolf: For the roles I mentioned the iso standard ISO 5009 um is what we maintain um here is the example with the procurement manager again um in a very easy way um. ✪

Stephan_Wolf: And here is the summary for organization credentials as we see them there are like shipping containers any data inside becomes portable and provable and authentic um and um all the other questions like who is should uh to who issued by not tampered with all of these kind of things can be verified at real time against the network by the way this is also true for revocation if you revoke um a credential the whole network will immediately see when they verify that this credential has been revoked it might have been valid at a different point in time but now it cannot be used for further signing anymore and since this is a hierarchical system with the root chain of trust if a company would cease to exist you would revoke the company credential and all of the you know. ✪

Stephan_Wolf: Credentials like for people and and tools everything else they all would expire at the same time at real time speed. ✪

Stephan_Wolf: Now chaining of credentials um I know that the experts here and particularly the inventor of this Sam Smith could could explain this better but maybe I can offer you my simplistic view on things Jane credential is nothing but a digital container that is literally signed by someone. ✪

Stephan_Wolf: And in that container you put in something like a private key of another um credential right and then these credentials are chained with each other the product call can now verify that this credential is chained to another credential and that might be again chained to another credential so what you create is a chain. ✪

Stephan_Wolf: that stand autonomously. ✪

Stephan_Wolf: For themselves so you don't need for instance. ✪

Stephan_Wolf: If you want to know who's the final owner of a document um who is the final owner of a virtual asset whatever um you can now look at the credentials you don't need a lecture anymore to go through the the SEC to see you know who was the last 1 who authorized a transaction. ✪

Stephan_Wolf: Here you can do this directly in the credential and that will change in my opinion the way how people construct applications because now this can be used in any application across the board um if you know the software industry would pick it up and would build the necessary interfaces against. ✪

<pl/t3> This sounds like the provenance of the credential is now in the credential.

Stephan_Wolf: Um Authority uh I should mention is a little bit more complicated than what I said before so we have Concepts like multaq um for instance a certain action can only be triggered if more than 1 individual signs the activity they are waiting and all these kind of things built in so you can really build. ✪

Stephan_Wolf: Rather complex but handy system for the delegation of authority. ✪

Stephan_Wolf: In my words I would say we're just mimicking what has been in place for hundreds and hundreds of years that that's what people do with paper a company sends a letter indicating that Chef a wolf is entitled to do something I represent it better to my counterparty the letter is then checked whether the stamp is okay and so on and so forth so what we're doing with the verifiable Lei and the credential the system underneath is nothing but what you see already on paper. ✪

Stephan_Wolf: 1 thing that people Overlook very easily when they are you know pretty much into into technology is paper has 1 major advantage. ✪

Stephan_Wolf: Paper is by default interoperable. ✪

Stephan_Wolf: 1 can deal with everybody else using paper I can buy a product in I don't know in China you know and I get my my invoice on paper or PDF as a as an equivalent and uh everyone can do this I don't need apis I don't need you know complex platforms and all of that and that is why paper is still around uh in trade for instance International Supply Chain people consider that 90% of all documents are still printed on paper because people have it uh for court cases and proof and and things like that if we want to digitalize the world. ✪

Stephan_Wolf: Have 2 approaches 1 is built the major platform that 1 size fits all and every every startup company that I have seen in this space wants to do this of course right and and and get big. ✪

Stephan_Wolf: And that's the alternative you create something that is around protocols and change credentials and things like that and you know from from what I've said so far you will easily anticipate that that I'm not I'm a Believer in the protocol approach rather than the platform approach. ✪

Stephan_Wolf: Um so we talked about the um Authority and that is signing identity entitlements access at the stations and so forth credentials and this could be anything that's that's pretty much then in the um. ✪

Stephan_Wolf: The realm of the um of the builder of the downstream application. ✪

Stephan_Wolf: All of this is based and and this slide is very important to us um. ✪

Stephan_Wolf: All of this is based on a very robust governance framework. ✪

Stephan_Wolf: And the most projects that I have seen that failed did not fail because the technology failed they failed because the people involved couldn't get their acts together who owns what who pays what and this and that and so on and so forth if you have multiple stakeholders in the project um it becomes really really complicated. ✪

Stephan_Wolf: Adventure companies as an example their typical time to live with 3.5 years and then they fall apart because the owners cannot agree any longer on strategy and budgets and things like that the same for projects the same for development so here we we decided to create 2 governance framework 1 is for the VA itself and the other 1 is for the ecosystem and here we Define precisely. ✪

Stephan_Wolf: How the system works how we Alias get issued what kind of verification and validation takes place what the roles are of the people and organizations involved and so on and so forth um this um governance framework has been developed uh with the help of the standard from the trust over IP Foundation. ✪

Stephan_Wolf: and that. ✪

Stephan_Wolf: Just not took it and and and wrote it but we gave it back to the to trust over IP Foundation to The Experts there and there was a yeah well I would say Richard review process um where we got a final blessing from the industry that this governance framework is fit for purpose and from what I hear. ✪

Stephan_Wolf: If if at all uh rivaled by someone else then I would not know it so this is this is 1 of the most you know um. ✪

Stephan_Wolf: Thought through governance Frameworks. ✪

Stephan_Wolf: and this. ✪

Stephan_Wolf: Like that because everyone in the world would like to understand what's going on how it's built how it's operated who makes money on what and things like that all of this must be must be clear so everything we're doing including the governance framework is open source um everything is on our website you can download everything you can see everything you can check everything down to the source code um and I think that is also prerequisite for gaining the Buy in of the industry and also the regulatory side many countries um. ✪

Stephan_Wolf: because if you hide this. ✪

Stephan_Wolf: Or if you commercialize this. ✪

Stephan_Wolf: 1 example um 1 that was a big surprise for me because I would never have thought that The Regulators the the the public bodies would pick it up the first but it was the European banking is um Authority who has a they have a real problem I mean they they fetch you know reports from from I don't know 60 Banks today and through a law change this is going to explode to thousands and thousands of organizations fighting to them and which each of the filings you have multiple persons who are entitled to file and so on and so forth so managing the user credentials for an FTP site for instance like like they did in all these years before does not work anymore and they learned about our work uh because they are part of the oversight committee that that we have and they learned of our work and they asked us hey can the V help us to solve this problem and we ran a puck with them and they were satisfied Gartner gave their blessing in a in a study. ✪

Stephan_Wolf: Now we're going to um to test this with 17 Banks and if that test is successful this year the EBA will roll it out on the European white level and that would be the first and biggest use case for organizational credentials. ✪

Stephan_Wolf: In a cross-border. ✪

Stephan_Wolf: Filing reporting um environment. ✪

Stephan_Wolf: Um but please when I say this this is not the use case for the vlei in general you can build any kind of other application with it this is just the first use case that was put forward by a regulators and it looks really good uh at the moment uh everyone seems to be very happy with it so stay tuned we will we will keep you updated on on the pro on the progress. ✪

Stephan_Wolf: Now to come to the conclusion V technical infrastructure and specifications um I understand that many of you are already familiar with Sam Smith and carry in these kind of things here I would like to show you a little bit of an overview um of what we're trying to do with the the Ali should be in trouble with everybody like I said paper right so it is not just our Network it's any cloud-based application any Ledger application um we have now predominantly in Asia lots of companies who deal with virtual asset exchange on blockchain and they would like to use the the vlei for identification purposes against their chain and so on so it it's now spreading out and uh. ✪

Stephan_Wolf: Very excited about that we also have a representation to the outside world the best. ✪

Stephan_Wolf: That's the that's the layer that we built around uh the identifiers that we use internally. ✪

Stephan_Wolf: And um looks like this is going to work uh. ✪

Stephan_Wolf: The strategy is now clearly to talk with all the involved parties um gain their interest you know and and start building prototypes with them and so on. ✪

Stephan_Wolf: We use Open Standards and open source uh carry um is the tool for Key Management. ✪

Stephan_Wolf: We uh we we think the key management is at the bottom it's the essence of everything if you don't manage your keys properly um if you don't uh if you if you create security risks there then the whole system is void but key management comes also with features like key rotation in credentials and all of that and the protocol for the verification and uh all of that is implemented and carry there is a 140 pages white paper on carry do 1 for those who would like to read it I can really recommend that it's it's tough stuff um but the everyone. ✪

Stephan_Wolf: Read it through came back to us and said wow this is something really great. ✪

Stephan_Wolf: And the next level are Atomic chain data containers the verifiable format that we're using um their w3c compliant for proof format and the ACDC is an ietf standard as well as carry and um eventually it's going to become an ISO standard as well. ✪

Stephan_Wolf: Our commitment to open source and Open Standards is um absolutely 100% we're not going to use anything else. ✪

Stephan_Wolf: And here's some um additional information um about uh Carrie and ACDC um I'm happy to share the slides with you after this presentation so you don't have to um take everything and we have the recording of course. ✪

Stephan_Wolf: And that is the end of my presentation um I wanted to give everyone a chance to digest this and then if you have any questions. ✪

Stephan_Wolf: Would be very happy my team as well to to take them. ✪

Harrison_Tang: Thank you Stefan thanks a lot. ✪

Harrison_Tang: I got 1 uh quick question so Stefan earlier you mentioned about uh qualify vli issuer so can you go a little bit deeper into how do you kind of qualify the issuers like what kind of governance framework do you use uh to to ensure that these qualified issuers are indeed qualified. ✪

Stephan_Wolf: Good news is that with us today is kala McKenna she was for many many years the the um the TC 68 and ISO um she is also head of Standards at life head of America's Life and she was also the main author of the governance framework so why don't we give it to cala to answer this question. ✪

Stephan_Wolf: Ka if you hear me. ✪

Stephan_Wolf: Thank you Carla. ✪

Stephan_Wolf: For clarity um we carry an ACDC or at the moment with trust over IP they can eventually a trust or IP standard as far as I'm informed. ✪

Harrison_Tang: Got it thank you. ✪

Stephan_Wolf: So any other question. ✪

<drummond_reed> Yes, that work is underway in the ACDC Task Force at ToIP.

Harrison_Tang: 1 more question yes 1 more question so uh is uh the Lei program mostly just uh in the your uh in the Europe or do you have uh presence and initiatives in the United States as well and then the follow-up question will be in United States for example uh a lot of companies use down and breast street right the D number as their kind of business identifier is there a plan to kind of call cooperate with them so that we can have a more I guess you know adoptions for this kind of Technology. ✪

Stephan_Wolf: I'm very grateful for this question um because that's a complicated Beast uh number 1. ✪

Stephan_Wolf: the done. ✪

Stephan_Wolf: Model is they assign those numbers to everyone and then they sell the data to the users of the data um the American government has just recently decided to fade out guns numbers because they don't want to pay the um license fees anymore and in the beginning of the system when The Regulators designed the Lei system they had in mind an open free of charge usage model for the Lei which was a little bit you know. ✪

Stephan_Wolf: It of what what DS we did DS is predominantly in the United States and Asia um we don't see them very much in Europe um. ✪

Stephan_Wolf: But for the Lei it's completely different the Lei was implemented as a global scheme so we have leis in over 222 jurisdictions I think the the only jurisdiction that does not have an Lei at all is North Korea but all other countries all other jurisdictions are covered with with the leid Asian development Bank did an analysis how difficult it would be to deal with the Lei to obtain 1 and so on and so forth and they use uh countries like Cambodia Fiji you know um Vietnam and so on and they the studies available on the internet it revealed that it's absolutely Breeze to to to to to get uh familiar and to get the acquainted and and and hosting and and lei in the United States as you can imagine there's a big population because that's where the whole crisis originated from um there are several regulations in the United States we have 6 agencies from the states um the SEC the FED um FDIC cfdc and couple of others um and these. ✪

Stephan_Wolf: agencies uh. ✪

Stephan_Wolf: For um for the message use in their reporting schemes as well as for overseas companies reporting into the United States so the Lei to answer your question is a truly Global phenomena. ✪

Harrison_Tang: David you are in the queue. ✪

Stephan_Wolf: You mean Stephanie Wolff. ✪

Stephan_Wolf: Maybe maybe I was a bit imprecise in in this and thank you for the question by the way I know step wolf Born to Be Wild I made this my mantra for my life um but coming back to your question it's not that every individual in an organization can issue credentials this is tied to the governance framework that Carla was describing just a minute ago so it is in the in the interest of the organization um to make sure that they have the right rigor around the tools in the revocation of credentials because and this is an important aspect they are fully legal liable for all damage caused by misuse credentials so um what individuals working within an organization or customers to an organization or patients to a hospital all of these credentials would be issued by the organization itself um and uh in most cases also in a multi way um this is not true for the official role credentials because there we have put another barrier if you like. ✪

Stephan_Wolf: Um official role credentials like like my credential the CEO credential cannot be issued by the organization itself they have to go back to the qualified blei issuer apply for such a role credential and the qualified the AI issue would check against authoritative sources for instance in my case they would look up um the uh business register in basil in Switzerland to see if I'm authorized to sign on behalf of life so it's a pretty rigorous process around that uh when I said in the beginning Security First is also true for the processes that we that we uh build around it. ✪

Harrison_Tang: Uh this is uh clarification question um so uh using uh don breast Street Model A little bit like when you search for uh Don's number you can find the information about that business in this case in a more decentralized uh manner uh where does like um the business information such as business name and those kind of metadata around that particular business or legal entity reside is it does it reside with the qualified issuers or does it does it reside with the Glide Foundation. ✪

Stephan_Wolf: Really because meet people sometimes confuse this so number 1 we have 38 issuers of Cadet Eli we're talking about the Elias first. ✪

Stephan_Wolf: Present the route uh in each cases so they have the data and everything at hands um on the company the name legal address and and these kind of things but the attributes are limited so we're we're not carrying information like number of employees or credit ratings and things like that because we are we're really focusing on the core of identity in this regard and then you can build many many products around that to carry this information like standard and Porsche for instance they have mapped the entire life uh uh the entire database of leis to their S&P identifier and now they can offer services around their data sets and ratings and everything else to the world um glyph is collecting this information where where where you know maintaining a copy of it we call it the golden copy and that is a file that we host on our website on a daily basis and everybody can download this file there are no restrictions you can do whatever you want with it you don't even have to log in. ✪

Stephan_Wolf: We also have a database version with apis we have our website where you can do Google like searches and things like that but predominantly live provides a copy for convenience reasons right but the but the authority is with the 38 agencies that we manage and and control. ✪

Stephan_Wolf: And for the vlei system it's even more decentralized because life is not issuing verifiable credentials at all we're just you know maintaining the governance of the system the network some parts of the uh of the open source software that people can then use to build applications around it to become qvi um. ✪

Harrison_Tang: Got it thank you and the follow-up clarification question what what if uh there's uh conflict uh for example like there's multiple issuers uh issuing different uh vleis to the same entity like how do you do conflict resolution. ✪

Stephan_Wolf: The Lai is a unique unambiguous identified it's never going to be renewed that we use that's never going to be used twice um so it's a completely deduplicated system so you can trust that each Lei is absolutely unique and even if a company goes out of business we would carry the information forever that this company wants existed. ✪

Stephan_Wolf: As every system can have weaknesses um. ✪

Stephan_Wolf: The um the the Glide role is also to be kind of like the guardian and gatekeeper and the compliance officer of the network so we have very very very uh intense you know data quality checks check for duplication and everything else that are all online so each record each data element or even each facet of each data element goes through that check Gateway prior to the published and we detect usually those duplicates in the event that we would also miss uh a duplicate or a wrong data set um there's always the possibility for the entire world for everyone on the internet to challenge the data if you have information that uh a certain record might be wrong you can challenge this with the Lei so basically you can Outsource the verification and uh validation for free to the Lei issue a network and they will come back to you with either yes you're right we have updated the data or no you're not right this is not the legal. ✪

Stephan_Wolf: truths that we find. ✪

Stephan_Wolf: In in a certain. ✪

Stephan_Wolf: Um all of this is documented on our website but I must admit there's a wealth of information so it's sometimes. ✪

Stephan_Wolf: Time consuming to dig through all of this in case someone has questions to these uh more governance issues and quality issues uh would be happy to provide you links to the nests to the relevant pages. ✪

Harrison_Tang: Are any last questions uh for Stefan and the CL team. ✪

Stephan_Wolf: I would like to make a final comment. ✪

Stephan_Wolf: And especially in the light of the w3c community and your work towards standards and you know standards adoption and everything else. ✪

Stephan_Wolf: We are we are not in the game for creating technical standards or creating I don't know. ✪

Stephan_Wolf: anything like. ✪

Stephan_Wolf: Our main driver for what we're doing is the Lei and the fostering of the adoption of the Lei and as in many applications you need a digital version of the Lei we created a vlei which is nothing but a container for the Lei itself so if you want to have a verifiable lei. ✪

Stephan_Wolf: Then this is the system to go to right and then we build interfaces and apis and everything else that you can use that information but we are all of course aware that there's a whole industry around that so might have different ideas on technology standards and everything else we tried to stay out of this we we we we tried to we tried to explain the concept we tried to explain why we believe that this is um the right thing to do and I hope that life is also able to do things right so this is our driver for everything so absolutely clear we would love to working together with w3c would love to see convergence of standards and everything else and we will do everything we can to do that um but we are not the standards but that's that's what you guys and Trust over IP ISO IDF and these guys are doing. ✪

Harrison_Tang: Right any last questions before we wrap up. ✪

Harrison_Tang: Well I I just want to take a moment to thank thank you Stefan and uh Carla Alexander and the glass team uh W hopping on and uh you know taking your precious time to actually present here uh this is a very informative and actually earlier I was going to say this is actually 1 of the uh sessions requested uh by our community to do more cross community collaborations and discussions so thank you for uh being here and uh also I just want to say thanks again uh Stefan for your great work on the open source communities and hope you have a great uh retired like uh you know life uh in a few months so thanks a lot. ✪

Stephan_Wolf: And then thank you all for your interest and for having us here today and uh let's see where we meet again take care goodbye. ✪

<drummond_reed> A great next career!

Harrison_Tang: All right this concludes uh this week's w3c ccg meeting and uh we will uh publish the recordings uh in the next uh 1 or 2 days thanks. ✪