Self-Sovereign Identity

Self-Sovereign Identity

Self-Sovereign Identity: Traditional identity management systems have always been messy, confusing, and easy to misuse. Utilizing the Self Sovereign Identity blockchain system eliminates the involvement of intermediaries and grants owners complete control over their digital identity. Trustless, mobile blockchain-based structures are already in use for this purpose. Creating permanent identity records: A blockchain’s information cannot be changed or tampered with without causing a disruption to the entire chain.

Using this technology, records can never be changed and are completely safe. Identity management for IoT systems: Identity management for IoT devices means making sure that IoT-to-User and IoT-to-IoT interactions are secure, accountable, and verifiable. At the moment, projects based on blockchain are used to make sure that IoT transactions are safe. Smart contracts: Identity-enabled, self-executing smart contracts could be made using the blockchain technology-developed concept of decentralized, shared ledger systems.

This technology could also be used for identity verification in other contexts, such as when applying for a loan, making online purchases, going through legal procedures, applying for an international migration permit, or conducting background checks. Benefits of Blockchain-Based Identity Management Let’s take a closer look at some of the advantages that users and businesses stand to gain from blockchain-based identity management.

Decentralization ensures trustlessness in a distributed ledger system, which means that owners no longer have to rely on any third party. Safety: Because a blockchain stores all information in an encrypted and tamper-resistant format, identity information remains private and can only be accessed by the owner. The creation and storage of identities on blockchains means that, in the event of a need for a duplicate, you will never have to go through the process of applying for one, saving you time and resources.

This means that you will no longer be dependent on identity management that is based on paper. ID verification made easier: The technology that led to the automation of processes eliminates cumbersome manual steps, making processes easier for everyone involved. Excellent user experience: Uploading a digital identity to a distributed ledger is a breeze. All you need to do is install an app and enter information and proof of identity. Transparent while maintaining privacy: While everyone’s privacy is guaranteed, participants in the blockchain system have access to transaction details. On the blockchain system, each owner receives a unique ID number that is indestructible, permanent, and can be used to quickly validate themselves. Overview Blockchain, the technology that was once almost exclusively associated with cryptocurrency, is now a comprehensive framework that is being implemented in a variety of industries.

Blockchain is still in its infancy and is not completely immune to contamination; for instance, counterfeit data can still be verified. However, it is still regarded as a safe and dependable identity management solution. Accuracy, privacy, transparency, and anonymity are all guaranteed when identity verification is carried out with artificial intelligence and blockchain technology.

As a leading provider of Blockchain and Internet of Things (IoT) app development, GeekyAnts provides users and businesses seeking to streamline, automate, and manage processes with blockchain solutions for identity management.

The company is well-known in the development community for their work on blockchain-based solutions and their experimental approach to technology. With an encounter of 17+ years, they have proactively teamed up on various blockchain based projects, changing a scope of enterprises