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Decentralized identity (DI) technology is a new and emerging technology bringing an extra layer of privacy and security to your data. But how does decentralized identity bring control to consumers? Also, what exactly is DI within blockchain? This article discusses how decentralized identity plays a significant role in blockchain and Web3!
Digital identity has been one of the hottest buzzwords in 2020. What’s more, even governments around the world are starting to wake up to the notion of a verified digital identity, and digital identity solutions are already a reality for a growing number of people. Decentralized digital identities can very well hold the keys to everything from personal data ownership to boosting access to financial services. Blockchain-based or not, digital identity appears to be here to stay. Nevertheless, blockchain technology suits itself remarkably well for constructing resilient digital identity solutions. However, what is digital identity, and why do we need it?
