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The promise of managing identity on the blockchain

Published 2 years ago by Peter Hampton

The promise of managing identity on the blockchain

Bitcoins & Altcoins via bitcoinsaltcoins.com

The argument goes that if our identity were on the blockchain, it would give us more control over this information, and with proper applications allow us to present just the minimum amount of information a given party needs to identify us. Jerry Cuomo, IBM Fellow and VP of blockchain technologies, sees blockchain already having a big impact as people demand more control of their identities. He says that we are constantly being asked to share personal information to access places or information or to do business with companies — and that each of these actions puts us at risk for identity theft. Blockchain is the underlying technology paving the path to self-sovereign identity through decentralized networks. “Identity will not move to the blockchain if this means personal data will be put on a public permissionless blockchain (distributed ledger technology in its purest form), as this is now widely considered bad practice,” she said. Charles Race, president of worldwide field operations at cloud identity firm Okta, which went public this year, thinks it’s possible blockchain will emerge. He envisions a similar set of use cases as Cuomo, but sees a lot of obstacles that stand in the way of using the blockchain to implement identity management broadly moving forward. Ian Glazer, an identity industry expert says it really about choosing the right tool for the job, but he doesn’t necessarily see there ever being one answer that fits every identity scenario including blockchain. Coin spectator is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties. Read in Full

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