How blockchain can be used for secure, decentralized identity verification

Blockchain technology provides an effective means of reliable, distributed identity verification that enables people to manage and assert their identity independently of centralized authorities. Conventional identity systems generally rely on a plurality of intermediaries, and therefore are susceptible to data leaks and privacy concerns. Blockchain-enabled identification verification, by contrast, leverages a distributed network in which each user's data is anonymized and archived on a distributed ledger, therefore minimising the possibility of interception by unauthorised persons.

In a blockchain identity system, individuals build a digital identity with only such information as willing to make public to share. This identity is held in the form of a sequence of cryptographic proofs on the blockchain and therefore it is possible to get confirmations of identity traits (e.g., how old an individual) or (e.g., whether an individual has citizenship in a specific country) without actually revealing personal private information. Privacy and security are preserved because the information is encrypted and can be accessed only by unique, user-controlled keys.

A decentralized identity system also enables interoperability. [For example] After an individual's identity is validated on one service, that validated individual's identity can be used on other services without having to revalidate the information, simplifying processes for banking, healthcare, and travel services. In addition, blockchain-based identity verification facilitates transparency and accountability, since all interactions are present on tamper-proof ledger.

Blockchain-based verification also allows for self-sovereign identity, where users own and control their data, enhancing privacy and empowering individuals. In spite of hurdles, from regulatory restrictions and technological acceptance, there is also a good potential for secure centralized identity verification provided by blockchain technology to become a new bridge to a world in which the citizen will be in control of the management of her/his own digital identity in a safe, efficient, and autonomously way.

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~ Nesaty