Is Blockchain the Answer for Self-Sovereign Identity?

In the current technologically advanced world, digital identities have achieved new heights of interconnectedness and centralization. Platforms such as Snapchat and Instagram have complete information to our identities.

The concept of a traditional identity was a huge challenge in the earlier online environment mainly because of the constantly evolving technology. Online identity has become incredibly multifaceted, complex, and impossible to trust especially when multiple parties are involved. As social media platforms are becoming a core part of our existence, controlling which part of identity should be exposed to public is becoming impossible to handle. The API used in these platforms stores every bit of user information which is increasing the problem. Controlling identity theft and digital identity has become an important issue.

Blockchain can protect our digital identities and here is how:

Self-Sovereign Identity’s Central Elements

Here the user becomes the central administrator of his or her own identity. SSI offers not just the ability for the identity of a user to move across multiple social platforms, but also complete autonomy to the true user of their identity. Essential elements of self-sovereign identity such as these make the blockchain technology a very elegant solution for the next evolution of the internet and the digital identity.

Establishing Societal Trust

It is very important for individuals to see how a self-sovereign identity model can benefit society. If users can manage and control their own data then that will bring about a completely unique sense of ownership.

The most exciting solution to identity management is in the blockchain technology space which requires the application of zero-knowledge proofs. The zero-knowledge proofs would offer the users an opportunity to reveal the fact that two individuals have a shared secret without revealing the actual details.

Current Status of Identity on the Blockchain

Indeed, even in the beginning of blockchain innovation, client conduct on the blockchain as of now reveals insight into the character behind each location. For instance, just from the data that lives on the blockchain, you can see on which locations have been KYC checked or hold accreditation status. Other character bits of knowledge you can induce off in open blockchain data is whether the client behind a particular location is an excavator, engineer, or even which sort of token they are bound to associate with straightaway.

Conclusion

Like the web, blockchain and other decentralized advances speak to a crucial infrastructural development, that can possibly empower a reasonable and comprehensive computerized economy. Identity management is very important to the very basic structure towards a future where clients can execute effortlessly and productively while protecting the security of the particular components of their character.

What are your thoughts about self-sovereign identity management on blockchain? Let us know in the comments below.