Insureblocks Blockchain & Smart Contracts In Insurance

Michael Shea is the Managing Director of the Dingle Group and the Chair of Sovrin Foundation’s SSI in IoT Working Group. In this podcast we discussed the white paper he authored on Self Sovereign Identity and IoT. To explain the opportunities SSI can provide to IoT, Michael introduces us to three profiles: Jamie (machine to person), Bob (machine to machine) and Bessie the cow (digital twin).   What is blockchain? Blockchain is a decentralised database, which is cryptographically secured and immutable. The decentralised part means that it operates in a wider ecosystem than traditional ones, that sits within corporate firewalls, which gives it greater resiliency and redundancy. The cryptographic component along with the different proof of work, resolve the double spend problem and bring a level of assurance that transactions have not been modified.   An introduction to Self-Sovereign Identify (SSI), Decentralised Identifiers (DID) and verifiable credentials. Self-sovereign identity is an identity model, wher