Digital identity can be managed on a blockchain from "summary" of Blockchain Revolution by Don Tapscott,Alex Tapscott
The digitization of our lives has led to the creation of vast amounts of personal data that is scattered across the internet. This data includes everything from our social media profiles to our financial information. Unfortunately, this data is often stored in centralized databases that are vulnerable to cyber attacks and data breaches. Blockchain technology offers a solution to this problem by providing a secure and decentralized way to manage digital identities. With a blockchain-based system, individuals can have control over their own personal information and decide who has access to it. This eliminates the need for third-party intermediaries that currently control and profit from our personal data. By using cryptographic keys, individuals can securely manage their digital identities on a blockchain. These keys serve as a unique identifier for each user and allow them to interact with the blockchain network. This not only ensures the security of their personal information but also gives them the power to revoke access to their data at any time. Furthermore, blockchain technology allows for the creation of self-sovereign identities, where individuals have complete ownership and control over their digital identities. This means that users can choose what information to share and with whom, without having to rely on centralized authorities.- Managing digital identities on a blockchain offers a secure, transparent, and user-centric approach to protecting personal data in the digital age. By giving individuals control over their own information, blockchain technology has the potential to revolutionize the way we manage and safeguard our identities online.
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