How Blockchain Can Bring More Transparency in Digital Identity Management

What Makes for Digital Identity?

  • An identity mostly comprises of the basic information about oneself such as name, address, and date of birth. In certain cases (mostly related to transactions) one might need to provide their driving license, passport number, social security number, etc.
  • Identity is very important. It is what allows us to avail of public services, conduct transactions, give a vote, get an education and apply for a job, etc. It’s what makes us the part of society.

How Blockchain Technology can Help in Digital Identity Management

  1. Firstly it is decentralized, meaning that the data in the block is not controlled by any centralized body. The data is kept in the nodes of the blockchain network,
  2. Secondly, it is immutable, meaning that the data in the blockchain is protected by cryptographic hashing making it tamper-proof.
  3. Thirdly, blockchain promotes transparency in a system. All the participants or nodes in a blockchain network can see the data that has been entered.
  • It will make replication or duplication of digital data impossible
  • It will also prevent tampering of digital data and digital processes

Industry Names Providing Digital Identity Management and Verification Services

  • IBM
  • HashCash Consultants
  • Tykn.tech
  • Trusti

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Maria Garcia

Maria Garcia

Passionate about blogging on Cryptocurrency, Blockchain applications, Artificial Intelligence & IoT.