Giving Individuals Control Over Their Data and Identities
The concept of Self-Sovereign Identity is increasingly gaining attention in the world today. The idea is based around the concept of individuals being able to control their own identities and data, instead of handing it over to centralized organizations such as governments and corporations. This concept is being driven by advances in technology and the increasing demand for privacy and control of personal data, particularly in the wake of the massive data breaches of the past few years.
Self-Sovereign Identity (also known as user-controlled identity) is a system of digital identity that is controlled and owned by the individual. This means that individuals are the sole owners of their own personal data and identity, and can decide how it is used, shared and managed. Self-Sovereign Identity is a distributed system, meaning that the identity is not stored in any one single centralized database. Instead, it is distributed across multiple networks and systems, with individuals having the ability to access and control their own data.
Source: NEC Corporation
The concept of Self-Sovereign Identity is closely linked to blockchain technology. Blockchain is a decentralized, distributed database which records and stores data in a secure and immutable way. This makes it ideal for managing digital identities, as it provides a secure and tamper-proof way to store and manage data. This is one of the reasons why blockchain is being explored as a potential solution for identity management, particularly in the context of self sovereign identity.
The idea of Self-Sovereign Identity has been gaining traction in recent years, as more and more individuals and organizations are looking for ways to protect their data and identities from the increasing threats posed by hackers and other malicious actors. Self-Sovereign Identity is seen as a potential solution to this problem, as it provides individuals with the ability to control and manage their own data, without relying on a centralized third-party.
The concept of Self-Sovereign Identity is still in its early stages, but it has the potential to revolutionize the way we manage our data and identities. By allowing individuals to take control of their own data and identities, self sovereign identity could provide a new level of privacy and security that is sorely needed in today’s digital world.
English