With the invention of the Internet, we have no control over our identities, and this is a problem. Birthdates and home addresses can be reached through a quick search on Google, but a dark Web visit displays information that many of us still have: bank accounts, CPF numbers, health insurance and all that we could think of.
We have reached this stage because consumers have always favored the comfort of privacy. Most of us do not study the fine print and do not perform extensive technical assessments before exchanging information online. We do not want to remember a different password for each account or re-enter credit card numbers each time we make an online purchase. Instead, we transfer ownership of the details that determine who we are, and therefore place each company and government agency in the corporate identity field, whether they have received it or not.
But with the advent of blockchain technology, the word "privacy" can be used again. Blockchain's ability to control information and avoid duplication means that the identity of sovereignty or the idea that people can control their data, wherever they are, could become a reality for the first time.
A combination of biometric security on the device and the principles of the user-controlled private blockchain allow you to delete your usernames and passwords permanently. And with the most popular password, even if it's abcdefgh, it must be a good thing.
You also add the ability to store identity information in the block in which only the user owns and controls. Blockchain has always been recognized as an excellent asset archiving system because of its knowledge of zero knowledge, cryptography, privacy, security and trust, all combined with an immutable book that is decentralized. Many companies have already activated their identity in this technology. However, only the identity, disconnected from the everyday services we use, is limited. Things become very interesting when you bulk-login with payment methods and existing services. This creates an "acceleration" for future payment systems, which connects correctly to the blockchain or as cryptocurrency.
The immeasurable recording of a blockchain is also what allows people to manage all the information relating to their identity and ensure their accuracy over time. For instance, since there is no universally accepted digital identity equivalent to an offline identity such as a passport or driver's license, a unique set of identifiers is assigned to each application used. The result is a vast network of private information that end users are trying to control, and organizations cannot stay safe due to inconsistent and backward security positions.
But with DID’s (decentralized block identifiers), users could regain control of their data. DiD’s is a secret address (i.e., Uniform Resource Locator) stored in a mailbox, each assigned to various parts of a user's identity, such as name, date of birth and the name of the user. Social security When using a digital wallet application on your smart phone or desktop computer, users have the power to give temporary access to the diodes of their choice. For example, when you sign up for a new application today, you often need to share your name, email address, and other basic information. With DiDs technology, the process is faster and safer. The app presents a QR code, scans it, your digital wallet application automatically transfers your relevant DiDs through the blockchain and the application allows access to them.
Changing elements of our identity, such as phone numbers, extensions, and addresses further complicate privacy because it is possible to associate a unique identifier with multiple people at different times. Think about all the details to update if you get married and change your last name, you need to change your health insurance details, passport, social network account, driver's license, bank account, etc. DiDs allows users to update this information quickly; When DiD is updated, services using DiD automatically update the information. This process is much better than using the wrong information for free.
At present, we control all personal information so discreetly that the only real surprise is that the associated privacy issues are not even more serious than they are. Blockchain offers a compelling picture of a world in which you can trade without having to hand over every part of the transaction details or remember your favorite game of throne’s character. Blockchain's Knowledge Test Potential also provides a form of cryptography to do things like showing your age without showing your age or condition showing your good actor with a record of successful transactions without revealing the content of those transactions. This technology could be used to obtain loans, make high-value payments, and eliminate the need to assess risks in each transaction.
Finally, once each of us safely stores the information in a series of blocks, we will be able to choose whether and when we will divide them in exchange for a real value. This could be the beginning of a real Internet value. We have lost control of our data. But we can take back this control and blockchain is the key.
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