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Brainstorming on  

Participants:

Definition:

Risk management is the process of identifying, assessing and controlling financial, legal, strategic and security risks to an organization’s capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters. [1]


Here is a summary of risks that is already gathered by other Work Items:




1ecosystem use cases
  • compatibility issues (technical, policy)
  • cannot solve compatibility and end up with silos
  • we cannot cope with the "stability" of paper (issuance, but also verification)
  • we cannot provide good enough usability → silos for fixing this
2credential flow
  • other standards and architectures are imposed on us, requiring us to change a lot
  • not good enough user-friendliness makes the wallet-ecosystem fail as a whole
  • GAFAMs to impose their way (including browsers as "their" tool, interference with their business interests)
3credential governance
  • how about other governance models being forced upon us?
  • intermediaries trying to keep their influence
  • overcoming national borders might impose barriers
  • failing to communicate the new "VC world" to end users and those engaged in the process
  • if usability is missing, the trust governance cannot be communicated appropriately

Based on the above definition and the risks mentioned in the table, this classification is presented. That includes other aspect of risk as well.

Suggested Risk Categories:

  • Financial
    • GAFAM
    • Competing technology
    • Market Growth Challenges
    • Environmental cost
  • Legal
    • Governments Rules
    • International Compatibility (ex. GDPR)
  • Strategic
    • Dependency 
    • Intermediaries
    • Acceptance
    • Engagement (Governance Rules)
    • Usability
    • Interoperability (Standards and Protocols)
    • Integration
    • Communication (Marketing)
  • Security
    • Physical vulnerabilities (Device lost)
    • Protecting sensitive data

[1] What is Risk Management? | IBM

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