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In the world of blockchain and digital currencies, the discussion of user identity and security is very important, and in line with this, various services have been developed. One of these systems, which has recently been developed and is at the beginning of its path, is called Decentralized Identity, which has recently become an important topic and has many fans. Decentralized Identity is considered a new and integrated system whose task is to increase the security of blockchain users’ information. This relatively new system is placed in web3, it is different from traditional authentication systems and its result is very practical. Older identity systems do not have sufficient security and in some cases lack the required accuracy. Decentralized identity was created with the aim of facilitating economic and social relations on different platforms and is considered an excellent tool for identity management. The initial idea of this concept was formed at the same time as the emergence of blockchain technology and the impact of the corona virus epidemic on offline authentication, which caused the demand for this type of technology to rise.
It is interesting to know that Decentralized Identity stores different and more information such as credit card, age, job, address, gender, etc. Online data including usernames, passwords, and histories are things that are collected in this system. The reason why decentralized identity has gained many fans these days is that information management in this way is very simple and new technology supports it. Also, this system is completely digital and apart from blockchain, it can be used in real life as well. In other words, blockchain is a way to advance and expand this technology and simplify the identity recognition system as much as possible. In fact, Decentralized Identity is able to share in the blockchain network while having high security. Of course, this system itself is not stored in the blockchain network, and only DID through the identity verification method ensures that your identity is confirmed and you can carry out your activities safely and with a sense of security.
As we move forward in time, having Decentralized Identity becomes more important for citizens. Of course, currently, according to the data provided by the World Bank, 1 billion people of the planet’s population still do not have ordinary identification documents. However, it is predicted that in the near future, a significant number of people in the world will gradually move towards identity information technology and have a decentralized identity.
Due to the popularity of the blockchain world, this system will soon become popular among people and become an essential tool. It is true that currently decentralized identity is still in the early stages of development, but it is clear that there is a lot of room for improvement for this technology. In the near future, web3 will be expanded and with this, a newer vision will be in front of us. As new trends towards metaverse and technology emerge, Decentralized Identity will also expand.
In general, decentralized identity management is possible using blockchain-based decentralized wallets. Users of this technology are able to store their personal PII and manage their key information. Currently, people’s identity information is controlled by intermediaries on various websites, which is definitely not an ideal system. Authentication of users using Decentralized Identity is done with high transparency and accuracy, and in fact, all information originates from a single source.
Decentralized identity supports logging data and using it to generate DID documents. This data is verifiable and verified by the method of public keys of digital currencies. Unlike the centralized identities we are currently using, such as email, social network accounts, and credit cards, users have control over Decentralized Identity; That is, in fact, the information of this type of identity is not stored on centralized servers and is not going to be lost.
The concept of autonomous identity (SSI) is the core of decentralized identity. Autonomous identity uses distributed databases to manage PII. With the help of this technology, users no longer need to have a set of identities on different platforms. In fact, the user’s identity is validated with the help of digital wallets and is accessible through trusted applications.
It is interesting to know that Microsoft is developing a decentralized identity system and plans to do this through blockchain and bitcoin. Microsoft is advancing this project in collaboration with ION to create decentralized IDs. This type of identity is supposed to dramatically increase people’s right to own and protect their information and protect them from security breaches, information leaks, and government surveillance.
This identity information is not going to be lost and is highly secure. The chief product manager of the Decentralized Identity project at Microsoft announced some time ago that the ION network does not answer to anyone except the customers and people of the network. This decisive way and method is definitely in the interest of the people and it seems that in the future, even politicians and influential people are not going to have
Its security is high and this system was developed from the beginning for this purpose. The existence of such a system can prevent many thefts and all kinds of information abuse and provide the possibility of exchanging information in a completely safe manner. On the other hand, the user interface of this type of personal profile is very easy and accessible, and you only need to be connected to the Internet to use it.
As technology experts claim, decentralized identity can play a significant role in reducing theft, fraud, incomplete information and low accuracy. Probably, in the near future, in addition to the metaverse, this system will have a significant impact on human activities and will bring great progress to the human race. Decentralized Identity will be useful in areas such as education, health, employment, social activities, law and more. According to one of the founders of Aleph Zero digital currency, this system is going to revolutionize our understanding of identity management in the next few years.
Some recent events, such as the collapse of the FTX exchange, show that Decentralized Identity has other security applications and can prevent many disasters. As mentioned above, the reason is the high security of this system. On the other hand, VCs or verifiable credentials, which include certificates, educational documents and passports, will be integrated into the blockchain. Stability and easy access are the reasons why future generations will prefer decentralized identity to manual certificates and centralized information. We must remember that the use of Decentralized Identity is very simple and uncomplicated. Only the internet is needed and anyone can use it due to the convenient user interface of this technology.
Advantages of decentralized identity
Definitely one of the best features of decentralized identity
Its security is high and this system was developed from the beginning for this purpose. The existence of such a system can prevent many thefts and all kinds of information abuse and provide the possibility of exchanging information in a completely safe manner. On the other hand, the user interface of this type of personal profile is very easy and accessible, and you only need to be connected to the Internet to use it.
As technology experts claim, decentralized identity can play a significant role in reducing theft, fraud, incomplete information and low accuracy. Probably, in the near future, in addition to the metaverse, this system will have a significant impact on human activities and will bring great progress to the human race. Decentralized Identity will be useful in areas such as education, health, employment, social activities, law and more. According to one of the founders of Aleph Zero digital currency, this system is going to revolutionize our understanding of identity management in the next few years.
Some recent events, such as the collapse of the FTX exchange, show that Decentralized Identity has other security applications and can prevent many disasters. As mentioned above, the reason is the high security of this system. On the other hand, VCs or verifiable credentials, which include certificates, educational documents and passports, will be integrated into the blockchain. Stability and easy access are the reasons why future generations will prefer decentralized identity to manual certificates and centralized information. We must remember that the use of Decentralized Identity is very simple and uncomplicated. Only the internet is needed and anyone can use it due to the convenient user interface of this technology.
