How Blockchain and Digital Identity can cooperate to create Self Sovereign Identity
Former finance analyst, now Blockchain consultant, blogger and educator.
My mission is to show how Blockchain is shaping the way our children will live.
The identity concept
Identity is a concept that the majority of the citizens in developed countries take for granted. Every child can grasp its meaning, but the majority of the adults cannot debate it using the proper arguments.
Identity is a set of attributes or skills that univocally define individuals. In daily transactions we are asked for proofs that certify that we are who we claim to be and typically this proof used to be physical, like a passport or an ID.
Those are proofs of identity thought to work in a system of face-to-face transactions and stored in physical databases. In this system, centralized authorities like governments act as third party identity providers. They mainly collect and store information that identify people and authenticate identities.
In the digital space, the need for a digital identity becomes stronger and stronger as the technology progresses. Here, governments are no longer responsible for the authentication in the majority of the cases, but private companies such as Facebook or Google act as
This means also that physical proofs are no longer compatible with digital architectures and whenever they cannot be avoided, there are stretches that create costs and issues.
When identity becomes digital
In Fintech for example, the product delivered is digital but onboarding new users still needs physical documents. The verification of documents against governmental database represents a waste of time and resources, exposing companies to
“The real advantage will be transferring data in a secure manner”
A possible solution to this issue might come from Blockchain. Blockchain combined with digital identity could give users Self Sovereign Identity (SSI), the autonomous control of identity data. First of
This means that individuals can choose the information they want to disclose, transport identity data across different storage solutions and use them for multiple applications. This would represent an advantage for individuals and companies connected to different services that need to communicate sensitive data to each other. SSI idea represents a paradigm shift: instead of disclosing who we are, we could just disclose those necessary information that allow us to use specific services, without providing further sensitive data about ourselves.
SSI and blockchain have intertwined destinies: B
Still unclear? Then watch!
Blockchain in Education, a European Commission Report
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