Unlocking the Future of Money: Programmable Money Enabled by Self-Sovereign Identity

The ubiquity of blockchain platforms in the last decade has transformed various sectors, including finance, prompting a reevaluation of existing structures and concepts. This paper explores the role of selfsovereign identity (SSI) in a large-scale programmable money ecosystem with embedded spending conditions. Programmable money refers to digital currency with predefined spending conditions, enabling greater control and transparency. SSI, based on decentralized identifiers and verifiable credentials, empowers individuals to manage and control their digital data, enhancing security and privacy. By combining SSI with programmable money, users gain autonomy and efficiency in financial transactions, promoting a more inclusive and user-centric financial ecosystem. This paper examines opportunities and use cases of programmable money, including conditional payments, project budget management, and behavior change incentives. Additionally, it discusses the benefits of SSI in a programmable money ecosystem, such as decentralized identity management, user empowerment, and streamlined spending conditions. The findings highlight the potential of SSI to contribute to a more efficient and user-friendly programmable money ecosystem, bringing about advancements in financial technologies.