People often ask us: What are examples of IDtech products? Normally, we end up sharing or a few screenshot examples on a call. We figured it was time to more formally share our perspective on the top IDtech products in the market. And so, we created the IDtech Product Market Map as an attempt to showcase some of the most compelling and successful IDtech applications to date.
What is an IDtech product?
Trinsic has written extensively on IDtech products and their importance to the future of identity. In this post, we include a brief explanation, but if you would like to dive further, check out our blog posts.
When we talk about IDtech products, we’re talking about applications that empower users to take control of their identity, share their data safely, and more securely access the things they need. These products aren’t necessarily decentralized, though we believe decentralized identity solutions will eventually win because they are better for users.
We’ve purposefully not included infrastructure platforms (you’ll note that Trinsic is not on the map), open source libraries, or blockchains on this list. While these things enable the creation of IDtech companies and their products, they are not categorized as IDtech in and of themselves. The reason being is that IDtech refers specifically to products and applications that help consumers manage their identity and data.
What are the top IDtech products right now?
The IDtech Product Market Map features IDtech products in 9 different sectors of the market, including:
There is a chance we may have missed an amazing IDtech product that is out there. If that is the case, let us know. We plan on updating the IDtech Product Market Map as new key players emerge.
Why the focus on IDtech products?
IDtech products are opening a new world of digital experiences for both people and businesses. We believe IDtech is on the verge of breakthrough growth that will be compared to the Fintech boom that brought the means for businesses, both large and small, to provide financial services directly to customers like never before.
Of course, Trinsic is an IDtech infrastructure company. IDtech companies build on top of Trinsic, so they can spend the majority of their time focused on bringing their product to market instead of building complex, underlying infrastructure. We have chosen to build our infrastructure with decentralized technologies, because as we mentioned above, we feel that decentralized identity (often called SSI) provides the most optimal experience for end users to date.
The number one factor that will influence the adoption of decentralized identity is amazing IDtech products that users love. IDtech products that solve real problems for users. We are excited to see the continued success of the IDtech products listed in the market map and look forward to the development of many more!