Page 13 - FIGI: e-KYC use cases in digital financial services

Glossary

Credential Wallet – a piece of software (or other embodiments) that is capable of securely storing digital
credentials – usually a mobile phone app.

Decentralized Identifiers (DIDs) – A portable URL-based identifier, associated with an entity. These identifiers
are most often used in a credential and are associated with subjects such that a credential itself can be easily
ported from one repository to another without the need to reissue the credential. An example of a DID is did:
example: 123456abcdef.

Digital Address – A special ADIA identifier that is issued to an individual by a ADIA-certified Digital Address
Issuer after a KYC process.

Digital Address Provider (DAP) (Role) – a solution or service provider that uses DID technology to manage
distributed identity data for users in the ADIA ecosystem.

Distributed Ledger (DLT) – A distributed ledger is a database that is consensually shared and synchronized
across multiple sites, institutions, or geographies. It is often embodied as a blockchain.

FIDO – the strong authentication specification managed by FIDO Alliance.

ADIA – Accountable Digital Identity Associationprovides trust sourcing, cross-ledger transaction enablement
for distributed ledgers and inclusiveness for all types of users.

KYC – "Know Your Customer": a process in which an agent of an organization performs certain due diligence to
establish the positive identity of a user or claimant. When this is done using an online system or online-enabled
tools it is referred to as e-KYC.

Service Provider (Role) – a relying party in the ADIA ecosystem; consumes Verifiable Credentials.

Verifiable Credential (VC) – A verifiable credential can represent all of the same information that a physi-
cal credential represents. The addition of technologies, such as digital signatures, makes verifiable creden-
tials more tamper-evident and more trustworthy than their physical counterparts. A specification is managed
by W3C.

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