Block chain based identity management enables easy safeguarding the individual identities.
Digital advancements revolutionized the world and made changes in every aspect of lives from learning to shopping to communicating with friends and family. In this digital world, digital identity is significantly required while using online applications or services. But, available protocols in digital identity management failed in some aspects due to increasing data hacking across the world, information getting duplicated from different providers, users inability to maintain numerous credentials for different services. To overcome these issues, blockchain identity management will be the right solution. Let’s discuss it.
What is digital identity?
Digital identity is a set of information about individuals or organizations or devices that exists online. It may vary to different fields for different functions. Mostly, there may be username and password, social security number, date of birth. It is necessary for Website owners or marketers to identify the individual users.
Digital Identity Management
Digital identity management makes ease of the user provisioning process. It allows new users to access the online services as well as restrict the access to invalid users.
Different Identity Management systems
Independent Centralized IDM
Mostly, the information available on the internet follows the centralized model of storage and verification. A single entity can own and maintain the users credentials. This independent IDM has the major disadvantages like the users won’t even get to know if the data has been revoked or stealed by the identity provider.
Federated IDM arrangement can give authorization and authentication capabilities including the organization sections. In this, there will be contractual agreements made between the enterprisers and users. It needs a proper agreement and true relationship between online services.
Self Sovereign IDM
Self sovereign IDM allows only individual users to own and manage their digital identity data fully without intervention from outside. It has disadvantages like lack of data control, lack of interoperability, privacy issues.
Blockchain digital identity solutions implemented to eliminate hassles
To solve the major issues in managing digital identity, block chain based Identity management was implemented. Block chain technology is a transparent, distributed, decentralized framework which can record the data and that can be shared with a connected peer to peer blockchain network. Data cannot be altered and cannot be hacked. It is a hack proof system. The encryption mechanisms in blockchain technology makes ease of authenticate users and also prevents data mining.
Blockchain based cryptocurrencies enables people to execute reliable, safe digital transactions. Contrary to the centralized system, the entire network verifies integrity at all levels. Because it records the data since their beginning. Being an immutable distributed ledger, it verifies, ensures users, transactions, and data are valid. Authentication is conducted using smart contracts which are deployed in blockchain. It self governs itself and allows authentication.
There is no middle man intervention in blockchain. It saves costs and time.
Choose Ideal Blockchain based Self sovereign identity management
The block chain based self sovereign identity management is a new form of blockchain based Identity management, owned and maintained by individual users in a decentralized network. Such a solution would have integrated digital identity information as well as verified attributes, which will get cryptographically signed by numerous trusted issuers. So, It is a secured, easy, cost effective, time saving, streamlined framework which could eliminate all the major challenges found in digital identity management. Explore more about Blockchain based digital identity management and it will help you to set up a secured digital identity system.