Practical Key Recovery Model for Self-Sovereign Identity Based Digital Wallets

Abstract

Recent years have seen an increased interest in digital wallets for a multitude of use cases including online banking, cryptocurrency, and digital identity management. Digital wallets play a pivotal role in the secure management of cryptographic keys and credentials, and for providing certain identity management services. In this paper, we examine a proof-of-concept digital wallet in the context of Self-Sovereign Identity and provide a practical decentralized key recovery solution using Shamir's secret sharing scheme and Hyperledger Indy distributed ledger technology.