Traditional identity management has typically involved the storing of user credentials (e.g., passwords) by organizations and third parties, which often results in concerns over interoperability, security, and privacy. However, a possible solution has emerged through the use of blockchain technology to create novel identity management approaches with built-in control and consent mechanisms. This can potentially transform data governance and ownership models by enabling users to control their data and share select personal information, while helping businesses streamline operations by relying on verified user information without having to maintain the infrastructure themselves.
Click here for original story, A taxonomic approach to understanding emerging blockchain identity management systems
Source: Phys.org