Sovrin Foundation

To the Sovrin Community After seven years of leading decentralized identity management, the Sovrin Foundation is preparing for the likely shutdown of its MainNet ledger by March 31, 2025, or sooner (see the timeline section below for details). This difficult decision follows a careful evaluation of the network's sustainability. Key Reasons: 1. Decline in MainNet Usage: In 2024, no new Transaction Endorsers joined, and efforts to revitalize interest did not increase engagement or revenue. 2. Regulatory Uncertainty: Ambiguities around decentralized identity have discouraged investments, hindering Sovrin’s growth. 3. Technical Challenges: Resources invested in upgrading Steward nodes were diverted to address issues on the TestNet, straining resources. 4. Governance and Community Involvement: Limited involvement from the Steward community in governance has placed a heavy burden on the Trustees, who have also faced a $2M debt from the previous Board. Timeline and Future Considerations: Barring significant changes, MainNet operations are expected to cease by March 31, 2025. If technical or financial changes occur that make it infeasible to operate the network, operations could cease sooner. The Board is also willing to work with others in the community with the leadership and resources to keep Sovrin MainNet operational. Without this, Sovrin will close in an orderly fashion. Conclusion: The Sovrin Foundation has been a pioneer, but challenges have made ongoing operations unsustainable. There is still a chance to act, but time is running out. Other Foundation Updates: The 2023 Annual Report is now available on the Sovrin website. Line Kofoed, Trustee and Treasurer, has stepped down to pursue an Advanced LL.M. in Technology Governance. We thank Line for her service. Alexander Blom will join the Board as a Trustee and Treasurer, and Stephen Curran will take on the role of Secretary. Sincerely,? Sovrin Foundation Board of Trustees

Identity for All is our mission! Join us in celebrating ID Day on 16.9 as "UN Sustainable Development Goal 16.9" calls for the provision of legal identity for all by 2030, including birth registration. Sovrin Foundation realizes its mission of Identity for All by offering a not-for-profit public service utility enabling self-sovereign identity on the internet. The public utility is governed through frameworks under public oversight, designed to enhance human agency, autonomy, and integrity. #Identityday #IDDay #identityforall #decentralizedidentity

We support this initiative and co-signed to commit to "continued standardization enabling robust DID-based ecosystems". #DID #DecentralizedIdentifier #DigitalEcosystem

Using Decentralized Ledger Technology (DLT) for Decentralized Identifiers (DIDs) is a choice for a mature technology proven over time. Sovrin’s MainNet has been in production for 7 years today and is available to legal entity issuers of Verifiable Credentials globally - across all jurisdictions. Join us! https://lnkd.in/gBgYdaVm #DLT #DID #VerifiableCredentials #HyperledgerIndy #DecentralizedTrust #LinuxFoundationDecentralizedTrust Hyperledger Foundation The Linux Foundation

Sovrin applauds this effort by British Columbia and its partners in building out #trust and #transparency in the global #supplychain. We're delighted to have been selected as a root of trust for some of the types of #credentials issued as part of this important work. https://lnkd.in/gW7wmhTS #HyperledgerGovernment #DIDs #VerifiableCredentials #AnonCreds

Sovrin visits to #EIC2024 and #IdentityWeekEurope in June brought us into the middle of discussions about #DecentralizedIdentity. The key message from the conferences -- decentralized identity has arrived into the mainstream. Our take: the transition to decentralized identity means there is a growing need for a global ledger for DIDs for #trustlists in public-private digital ecosystems. Sovrin offers that now -- ready to use today. Join the #SovrinEcosystem Anonyome Labs, Inc. ATB Financial bloqzone CPQD Danube Tech Desert Financial Credit Union Deutsche Telekom DIDx DigiCert esatus AG Finicity, a Mastercard Company ID Crypt Global Ltd. Institut für Internet-Sicherheit - if(is) InfoCert - Tinexta Group iRespond MakoLab Monokee oas staff FCU One World Global Services LLC Outlier Ventures Perkins Coie LLP regio iT gesellschaft für informationstechnologie mbh Riddle&Code SICPA SITA Northern Block Government of British Columbia Instnt ZADA Solutions #HyperledgerGovernment

Be sure to come by the Sovrin Foundation booth at #identityweek in Amsterdam. We have birthday cake! #SovrinMainNet7years #decentralizedIdentity #SSI

Come meet Sovrin in Amsterdam! Our Board of Trustees Chair Stephen Curran will be speaking and he and Board Secretary and Treasurer Line Kofoed will be in Booth 154 ready to answer your questions about onboarding the Sovrin Ecosystem. #IdentityWeek2024 #IdentityforAll #HyperledgerGovernment #SSI

Come meet Sovrin in Berlin! Our Board of Trustees Chair Stephen Curran will be speaking. Board Secretary and Treasurer Line Kofoed will be ready to answer your questions about onboarding the Sovrin Ecosystem. Talk to Board Trustee Andre Kudra about his experience as a long-time Sovrin Steward and Trustee. #EIC2024

Sovrin Foundation is very pleased to see the great success of the Bhutan National Digital Identity which was anchored on Sovrin's MainNet in 2023. We welcome organizations and governments anywhere on the globe to join the Sovrin ecosystem. Anchor your public DIDs on Sovrin and start your own digital trust ecosystem. ?? Meet Sovrin at EIC 4-7 June 2024 in Berlin, Germany and at Identity Week 11-12 June in Amsterdam, The Netherlands ?? Sovrin: A Global Ledger for Public-Private Digital Trust Ecosystems #hyperledgergovernment #selfsovereignidentity #growingtheecosystem