Trust Ecosystem Coordination

A trust ecosystem requires an impartial entity responsible for the ecosystem’s governance, as well as for developing operations and fostering collaboration among ecosystem participants. Therefore, the role of the ecosystem coordinator is pivotal in ensuring the functionality and evolution of the ecosystem.

As ecosystem coordinators, we ensure that solutions are developed, rules are kept up to date and adhered to. We promote the operation of the ecosystem by coordinating the development of rules to meet new business requirements and adapt to regulatory changes. Using Findynet as a legal entity capable of hosting the trust ecosystem enables us to provide a legal framework for the ecosystem, centrally coordinate the addition of new members, and monitor compliance with its rules. Additionally, we continuously monitor technological developments, keeping you informed about the opportunities new technologies present. This ensures your ecosystem continues to grow, evolve, and remain competitive.

Foundational Pillars of the Trust Ecosystem

Trust Ecosystem

A trust ecosystem is comprised of the issuers, users, and verifiers of a specific digital credential—or a set of credentials. Definitions, rules, and procedures agreed upon within the ecosystem ensure that various services are interoperable and trustworthy.

Trust Ecosystem Rulebook

The trust ecosystem rulebook is a document that describes the operational and technical specifications, rules, and procedures governing the ecosystem's operation. Thanks to the commonly agreed-upon rulebook, users can seamlessly and confidently use services that require credentials. Similarly, the rulebook ensures that verifiers can trust the credentials and their issuers. The trust ecosystem rulebook enhances the user experience for all parties, streamlines operations, and reduces risks. Credential issuers and verifiers commit to the rulebook through an ecosystem membership agreement.

Trust Ecosystem Governance Model

The trust ecosystem governance model outlines the ecosystem's structure and the processes to be followed for decision-making, rule enforcement, risk management, and ensuring compliance. It also details the processes for stakeholder consultation, dispute resolution mechanisms, and adaptation to technological and regulatory changes. The governance model is a key document for ensuring the consistent functioning, integrity, and transparency of the ecosystem. A clear governance model ensures the long-term continuity and efficiency of the trust ecosystem.

Ecosystem Coordinator

The ecosystem coordinator is an actor selected by the ecosystem to coordinate, guide, and oversee the ecosystem's activities and governance. The coordinator is responsible for developing and updating the trust ecosystem rulebook, facilitating stakeholder consultation, enforcing mutually agreed-upon rules, and assisting in adapting to changes in technology and regulation.

Want to learn more?

Want to better understand what a trust ecosystem is or how a trust ecosystem works in practice? We would be happy to discuss further.