Decentralized ID

"How Blockchain Helps Decentralized Identity

Currently, there is a presumption that knowledge of information is identity. If a person knows a social security number or password, they are presumed to be the person who that information represents. And if a person knows your personal information, they can impersonate you.

Using blockchain technology to decentralize identity is about digital validation and keys. For example, a digital wallet with cryptographic keys that cannot be recreated. You must have physical access to a device to validate identity. With a decentralized identity system, a remote hacker might have access to pieces of personal information but being able to prove an actual identity would require physical possession of that person’s device. Decentralized identity is literally putting the power back in the hands of the people."

 

 

Blockchain Ecosystem = BE

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