Understanding why and How the Blockchain is Effective for Identity Management
Around the world with cyber security, identity theft has become a serious issue and it becomes very important in solving the issues. This can be solved by the use of blockchain technology. This technology has the ability to manage all these problems by confirming the identity of the users and the credentials in a secure way. The launch of the automated trading robot is the platform where the users can easily trade the cryptocurrency.
People are given the rights to have their data in their charge and they can have control over it. By this, they can share proactively when there is a requirement. The data can be secured and managed safely by the blockchain. In the traditional method, the data is collected and then stored in the centralized server where it can be hacked. If not hacking, another problem is the selling of your data without your permission and they earn the profits.
On the other hand in the blockchain technology, there is no collection of the data or the distribution of the data in such a manner there will not be the attack of the hackers and also there is no involvement of the central government. Blockchain technology has the power of the identity management systems. Therefore the unauthorized person cannot monitor the data in any other way.
Blockchain identity startups changing the identity management
The identity management of the blockchain has control over the data of the person. It gives the users the best security and better experience for the users.
Now we will focus on the notable projects
For everyone digital identity will be created in a decentralized way. There are rules and the regulation for the identities by the governmen
t all over the world, for example, the digital ID number. The blockchain is used by the civic to secure the data. The data can be monitored by the users and the person who is having the civic tokens. The data cannot be hacked in any way as it is stored in the form of hash in the blockchain.
- u Port
The prestigious block Chain Company called consensys developed the identity management called the u port. By using the ethereum blockchain it is found to be easy for the users to use and the identity of the individuals