How to improve the transparency of digital identity management by blockchain

in blockchain •  2 months ago 

Everything we do online requires us to create an identity on this platform. It can be as simple as creating a profile on a social media site, or something a bit complicated like a bank transaction. The identity we create allows us to take advantage of these online services. Therefore, it is not wrong to say that a person's identity is a valuable asset in any sense.

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However, unlike traditional assets, security and privacy are getting more and more attention when it comes to a person's digital identity. Fortunately, we finally have a technology that guarantees the security of our digital identity and controls access by any third party.

In this article, we will discuss how blockchain technology can bring more transparency and security in today's digital identity management systems.

What constitutes a digital identity?

Before we dive into this topic, let's quickly review the basics of digital identity.

· Identity primarily includes basic information about yourself, such as name, address, and date of birth. In some cases (mainly related to the transaction), you may need to provide his driver's license, passport number, social security number, etc.

· Identity is very important. It enables us to take advantage of public services, conduct transactions, vote, receive education and apply for jobs. It makes us part of society.

The problem with digital identity is that it is stored and processed by a central authority. In many cases, this can and does lead to improper data processing and control, as well as hackers stealing identity. In recent years, large data breaches such as Facebook, Yahoo, and Equifax have exposed the vulnerability of existing systems.

How Blockchain Technology Helps Digital Identity Management

Under the current identity management system, our data is not invulnerable. It may be stolen, copied or improperly handled by a third party. We can have our own identity, but we can't control it. Blockchain technology can stop this situation and bring more transparency to the way in which various services use identity.

The blockchain has three unique features that make it the best technology for digital identity management:

first, it is decentralized, which means that the data in the block is not controlled by any centralized subject. The data is stored in the nodes of the blockchain network, and
secondly, it is immutable, which means that the data in the blockchain is protected from tampering by the encrypted hash value.
Third, the blockchain promotes the transparency of the system. The input data can be seen by all participants or nodes in the blockchain network.

The self-sovereign identity

blockchain gives the user the power to autonomy or SSI, allowing us to control our digital identity. This means we have complete control over the shared data. The blockchain helps us create SSIs that make us the true and absolute owners of our identity. This means that no one can access our data without our permission. We can even control how much data we want to share with anyone.

The blockchain provides users with the flexibility to meet a specific need across multiple platforms or different identities. It gives the user a private key that allows the user to control the accessibility of the data and keep the data secure.

Use block chain in the digital identity management can address the following issues:

• It will replicate or copy digital data becomes impossible
· It will also prevent tampering of digital data and digital processes

to provide digital identity management and authentication services industry name

in providing The blockchain platform for digital identity management and verification services, at the top of the list:

IBM
IBM has launched its Alpha version of IBM Verify Credentials, which you can try for free. Applications that support blockchain have a decentralized approach to identity management.

HashCash Consultants
HashCash provides a blockchain-based digital authentication platform. The app is available in android, iOS and web versions.

Tykn.tech
provides an identity and access management system that allows private and public organizations to publish and verify digital certificates. They provide users with a digital identity wallet. Headquartered in Israel,

Trusti
Trusti is a platform that supports blockchains and provides digital identification for cross-chain transactions.

Other blockchain development companies are also doing promising work in the field of digital identity management and verification. Experts believe that with the implementation of blockchain in identity management, a series of problems such as fraud, identity theft and data leakage can be eliminated.

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