"Decentralized identifiers (DIDs) [2] are a new type of identifier that enables verifiable, decentralized digital identity. A DID refers to any subject (e.g., a person, organization, thing, data model, abstract entity, etc.) determined by the controller of the DID. In contrast to typical federated identifiers, DIDs have been designed so they may be decoupled from centralized registries, identity providers, and certificate authorities."
https://tbdex.io/whitepaper.pdf
[2] Decentralized Identifiers (v1.0). Sporny, Longley, Sabadello, Reed, Steele, Allen; August 3, 2021 from World Wide Web Consortium (W3C): https://www.w3.org/TR/did-core.
"The Decentralized Identifiers (DIDs) defined in this specification are a new type of globally unique identifier. They are designed to enable individuals and organizations to generate their own identifiers using systems they trust. These new identifiers enable entities to prove control over them by authenticating using cryptographic proofs such as digital signatures."
"The Verifiable Credentials specification provides a standard way to express credentials across the digital world in a way that is cryptographically secure, privacy respecting, and machine verifiable. The addition of zero-knowledge proof (ZKProof) [3] cryptography to VC constructions (e.g. SNARK credentials) [4] can further advance privacy and safety by preventing linkability across disclosures, reducing the amount of data disclosed, and in some cases removing the need to expose raw data values at all."
"Participating Financial Institutions (PFIs) are entities that offer liquidity services on the tbDEX network. tbDEX is permissionless, meaning any PFI can run a node on the network without third-party approval by any individual, federation, or organization. Each PFI will be identified via DIDs and VCs. PFIs can be, but are not limited to, fintech companies, regional banks, large institutional banks, or other financial institutions"
