WCF: Cannot load the X.509 certificate identity specified in the configuration

When doing the WCF introduction from Microsoft / PluralSight I got the following error at screencast 2 when trying to run the test application:

System.InvalidOperationException: Cannot load the X.509 certificate identity specified in the configuration.
   at System.ServiceModel.Description.ConfigLoader.LoadIdentity(IdentityElement element)
   at System.ServiceModel.Description.ConfigLoader.LoadServiceDescription(ServiceHostBase host, ServiceDescription description, ServiceElement serviceElement, Action`1 addBaseAddress)
   at System.ServiceModel.ServiceHostBase.LoadConfigurationSectionInternal(ConfigLoader configLoader, ServiceDescription description, ServiceElement serviceSection)
   at System.ServiceModel.ServiceHostBase.LoadConfigurationSectionInternal(ConfigLoader configLoader, ServiceDescription description, String configurationName)
   at System.ServiceModel.ServiceHostBase.ApplyConfiguration()
   at System.ServiceModel.ServiceHostBase.InitializeDescription(UriSchemeKeyedCollection baseAddresses)
   at System.ServiceModel.ServiceHost.InitializeDescription(Type serviceType, UriSchemeKeyedCollection baseAddresses)
   at System.ServiceModel.ServiceHost..ctor(Type serviceType, Uri[] baseAddresses)
   at Microsoft.Tools.SvcHost.ServiceHostHelper.CreateServiceHost(Type type, ServiceKind kind)
   at Microsoft.Tools.SvcHost.ServiceHostHelper.OpenService(ServiceInfo info)

The example is giving you a wsHTTP contract which relies WS-Security layer. Because in this example you are running locally, you could remove the <certificateReference> tags in the app.config.

If you receive this error when not running it locally, try to resolve the certificate from the destination party and import the certificate into Internet Explorer. That should do the trick.