Using blockchain for identity
Collecting, verifying, and managing user identities is essential to the functioning of the online economy. As users, we also want to be sure that our personal information will not fall into the hands of third parties. However, most of the data are now stored in centralized databases and on centralized servers, increasing the risk of these data being leaked or stolen. There is no doubt that data breaches can have dire consequences for banks, governments, and healthcare institutions. Therefore this encourages companies to invest in the development of new, more secure, and more efficient digital identity management solutions.
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Using blockchain for identity
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- Blockchain Identity Management: Enabling control over Identity
- “Blockchain-Based Identity: The Advantages and Disadvantages”
- Digital Identity
- Improving Airline Passenger Experience using Blockchain-based Decentralized Identity Management
- How the EU is using blockchain to build a citizen-centric European Internet
- Digital Identity and the Blockchain
- The Future of Identity Management using Blockchain
- Building shared digital identity using blockchain technology
Blockchain Identity Management: Enabling control over Identity
At present various companies across all industry verticals are more enthusiastic and eager to embrace applications of modern technologies. However, privacy and security problems are one of the major bottlenecks in this adoption.
Every year we face massive data breaches especially identity theft. For ensuring foolproof identity management, the best solution is blockchain. This technology has the potential to manage and confirm the user identity and credentials in a much better, secure way. It is essential to enforce adequate measures for blockchain identity management , in case we do not want another Equifax.
The Equifax Breach had affected the more than million US citizens, as they had their personal data hacked. Blockchains uses cryptography to store blocks of data that are chronologically chained together through virtual networks distributed throughout the world. Due to the absence of a central repository from which hackers can steal data, information stored on the blockchain is safe from data breaches that centralized databases frequently suffer from. Many blockchain startups are extending these core principles to allow users to manage their identity on the blockchain effectively.
Here is a list of some esteemed startups providing Blockchain identity management. Peer Mountain is an enterprise blockchain built as a mobile-first distributed ID-management network.
Users can then share their self-sovereign, Peer Mountain-enabled identity how they please without worrying that data is being taken from them without consent. Hu-manity is a blockchain-powered start-up that aims to establish decentralized human rights and corollary sovereign laws on the blockchain.
Their priority is to protect personal data from poaching and illicit propagation. Whether it is geospatial data, spending habits, or medical history, the Hu-manity mission is to establish rights around ownership of that data in a similar way to how property rights are established. Evernym is the software company behind a number of decentralized, self-sovereign identity applications. They have created an open source ledger dedicated entirely to preserving user identity protections.
The ledger, Sovrin, has been made available to everyone, everywhere since Evernym donated it the theHyperledger project. What this means is that users who join and access the ledger can verify the authenticity of claims made by another person or organization, so much as such a thing can be checked.
Not so much a single project or product as it is an incubator, Evernym has several identity-focused, blockchain-powered projects in the pipeline. Palo Alto-based Civic is a blockchain-enabled ecosystem equipped with tools for individual users and businesses to maintain power over their digital identities.
Civic is the launching pad for those who want to access outside sites and apps, but are unsure that their identity will be protected when they do.
By using the Civic platform as a buffer, users can access untrusted locations on the web without the need for a login and password. All identity information entered on Civic is entirely encrypted, so, despite using the platform to login to all sorts of sites, the information used remains private and insulated from outside threats. Keyp is looking to take on the digital identity paradigm by offering an open digital identity ecosystem — solutions, partners, etc.
The broad goal: to create an environment where the cutting-edge in identity protection is made readily available to businesses willing to pay for it. Some of its most-used offerings are intended for hiring and onboarding processes. Their Identity Framework brings onboarding and logins under a single umbrella, making these processes highly-customizable and secure. The Keyp Identity Terminal allows users to design customer access workflows, while the Keyp Wallet lets users establish a decentralized identity for individual control over data.
While this may seem like a lot for a single platform, know that it is an ambitious project, but also one with serious promise. The self-sovereign identity is also intended to be usable with off-chain and inter-blockchain services so that it has real usefulness in the real digital world. Though the Meta ID can store a plethora of data, users decide what to share and what to keep hidden on a case-by-case basis, lending a measure of versatility to the digital identity solution.
Trusti is an Israel-based, blockchain-enabled platform providing identification technology for cross-chain transactions. The platform also offers services that are critical to identity management, namely, compliance, fraud detection, and identity authentication.
Users can do several things on the Trusti network — create an accredited crypto wallet, send and receive funds, transact using security tokens, and more. Finnish start-up Moni has developed its own MasterCard. The card is linked to a unique digital identity on the blockchain, acting like a bank account and an ID card in one.
For those without official documents, MONI allows them to pay bills, buy groceries, and gain employment. Immigration Services can monitor transactions, but only public keys will be visible concerning these transactions. No one will have direct access to accounts except for account holders. The MONI app can also be used by travelers, who can link all their credit and debit accounts to the app.
If their MONI card gets stolen while abroad, or they lose their smartphone, they can monitor transactions and block the card altogether from any web browser. Fractal is a Berlin-based company seeking to help create a future where the business world governs itself. They want to create a decentralized, shared economy in which communities are self-governed, and accountability is not created through the threat of punishment from a single regulatory body, but through well-defined community standards regarding fairness and ethics.
Edge is a US-based start-up that develops secure identity solutions to help protectcrypto-assets. It empowers individuals to take control of their own online data by developing the proprietary tools, software, and systems needed to keep their information tightly secured.
Through the use of advanced client-side Blockchain encryption, the Edge Security platform eliminates large-scale data breaches, helping safely propel users into the emerging networks of the future. Edge secures the data client-side, encrypting it on a device that you control. It also provides decentralized non-custodial login solutions. Tardid Technologies is an AI-powered product delivery company.
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Breaking News. Every nation…. Here is a list of companies that help in Identity Management by leveraging Blockchain technology. Posted in: Tech. Tags: Blockchain Featured. More Articles By the same author.
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“Blockchain-Based Identity: The Advantages and Disadvantages”
Own and control your digital identity and protect your privacy with highly secure user experiences. Engage with less risk, use electronic data verification, and improve transparency and auditability. Decentralized identity is a trust framework in which identifiers, such as usernames, can be replaced with IDs that are self-owned, independent, and enable data exchange using blockchain and distributed ledger technology to protect privacy and secure transactions. A standards-based decentralized identity system can provide greater privacy and control over your data. Microsoft believes everyone has the right to own their digital identity, one that more securely and privately stores all personal data. This identity must seamlessly integrate into daily life and give complete control over data access and use. Learn more about decentralized identity and blockchain technology in this episode of Azure Friday.
Baars, D. More statistics for this item Repository Staff Only: item control page. University of Twente Student Theses. Towards self-sovereign identity using blockchain technology. PDF 5MB Abstract: With more than three billion internet users, each with multiple digital identities, the management of these identities is very important. Surveys show that people often use the identity management systems they don't want to use. They don't have full control over their infor mation, have no way to know what is shared with other parties and are dependent on trusted parties when logging in to websites.
Improving Airline Passenger Experience using Blockchain-based Decentralized Identity Management
I previously described challenges both consumers and organizations face when it comes to user identity and how a shared digital identity can reshape digital trust as we know it. In an ideal future state, every consumer would have a strongly proofed, government-issued digital identity that could be shared with anyone. The user would own and manage this identity on a personal device and all digital interactions would accept this digital identity for enrollment and authentication. But today, we live in a world where:. The picture below is conceptually what a blockchain-based shared digital identity solution would look like.
How the EU is using blockchain to build a citizen-centric European Internet
Learning Machine has written and spoken publicly about the value and importance of self-sovereign digital identity , not only for the future of technology privacy, but for global citizenship. This is the double-edged sword of any new technology: it can be used to liberate or control. This is why using the blockchain, in and of itself, is not enough to guarantee human freedom and mobility. Rather, self-sovereignty must be explicitly architected into any blockchain-based social infrastructure. The purpose of this post is survey the field of options and outline how Blockcerts , a claims-based approach to identity, has set the precedent for a mobile wallet available for iOS and Android that meets the most important umbrella criteria of digital self-sovereignty: recipient ownership and vendor independence. The combination of these two conditions is the only way to guarantee that important records are durable enough to be useful for a lifetime.
Digital Identity and the Blockchain
Written by ElliotHill of the Cardano Foundation. Almost every application and website we use today requires our personal credentials in order to create an account and use a service. This process is so widespread, that most of us have hundreds of accounts across multiple services, and sharing our credentials is the norm. Some time ago, developers realized it would be easier to create linked profiles through the likes of Google or Microsoft , or social media platforms such as Facebook and Twitter, to log in to a range of services. Now, the majority of us are used to signing up to new services in seconds through one account. However, for financial applications and accounts, simple details about an individual are not enough to prevent bad actors from entering the space, such as identity thieves and fraudsters. Instead, when it comes to onboarding customers to a new service such as a bank or exchange, users are required to upload identity documents to comply with know your customer KYC and anti-money laundering AML requirements. These requirements are important to prevent crime, but they require a great deal of sensitive information from customers.
The Future of Identity Management using Blockchain
This curated and annotated collection of recommended works on the topic of blockchain and identity was originally published in The potential of blockchain and other distributed ledger technologies to create positive social change has inspired enthusiasm, broad experimentation, and some skepticism. In this edition of the Selected Readings series, we explore and curate the literature on blockchain and how it impacts identity as a means to access services and rights.
Building shared digital identity using blockchain technologyRELATED VIDEO: Live demo of Blockchain system for Identity management and Background verification
Try out PMC Labs and tell us what you think. Learn More. The pandemic has been a true catalyst for remote eHealth solutions such as teleHealth. Telehealth facilitates care, diagnoses, and treatment remotely, making them more efficient, accessible, and economical.
Identity and Privacy Governance View all 10 Articles. Telephone numbers, E-Mail inboxes, or Internet Protocol IP -addresses are irrelevant to define us as human beings at first glance. However, with the omnipresence of digital space the digital aspects of identity gain importance. In this submission, we aim to put recent developments in context and provide a categorization to frame the landscape as developments proceed rapidly. First, we present selected philosophical perspectives on identity.
This will navigate you to Accenture. Digital identity is essential to the growth and viability of our digital economy, and fundamental to every organization, across every sector. Helping clients map physical IDs to their digital IDs, enabling organizations to pursue new market opportunities that are part of a broader ecosystem. With the power of blockchain-based digital identity and biometrics, we can transform the future of international travel …and beyond.