The higher demand for e-trust, better security systems, or trustworthy privacy protection has led today’s businesses to start to find blockchain identity solutions. However, finding blockchain identity solutions that meet customer requirements and business needs is challenging in this crowded market. Therefore, we are here to suggest some top priorities of consideration when you need to choose a blockchain identity solution for your organization.
First, we will go through the three most basic elements in identity solutions, including owers, issuers, and verifiers. The identity owner can help you to store the credential of the customer and then they can use it later to prove the statement about his or her identity. This is also a source of data that you can find on it to evaluate the customer identity or bring it to the third party and use their tool to check the identity of the customer later.
In terms of issuer identity, that is a trustworthy party that can issue the personal credential for identity and provides the criteria to check the identity.
A credential is an object that you can base on this to check the validity or identity of the customers, including the names, date of birth or fingerprints. The credential is provided by the issuers and you may need a system to store all the information of the credential to protect the customers from being attacked by the cybercrime.
The next step is to prove the identity by the process of Authentication. In this process, you need to based on the credential and run it through the process of checking and clarifying whether it is valid or not. However, a lot of customers are afraid of giving their information, for example, their age or national card ID to support the process so the organization needs another approach to identify the credential.
Today we have a lot of approaches to do the process of authentication that uses cryptography. With this method, we don’t need to require customers to provide detailed personal information but we still have convincing and accurate results after the process. This is a very modern and innovative method that they don’t need to run the processes on the actual data. For example, the customer doesn’t need to give the exact birthday but they can use another way to prove that she is 30 years old.
To reinforce privacy and security a lot of organized organizations use pseudonymisation to store the public decentralized identity, DID descriptor Objects, Schemas, Credential definitions, revocation registries and proofs of consent for data sharing instead of real private personal information. This approach can reduce the risk of cyber-crime and enhance the security of the whole system.
Above are the factors that you need to take into consideration when you are searching for a blockchain identity solution. Also, we hope those elements can contribute to your journey of building blockchain systems in the future. If you still have concerns, you can contact SmartOSC to get more useful advice and blockchain solutions for your operation.
Increased acceptance and knowledge sharing have aided the spontaneous growth of cryptocurrency over the last…
Blockchain can be intimidating to research, but attending cryptocurrency events is one of the best…
Blockchain has made inroads into all major industries and is also becoming a part of…
In recent years, blockchain lending solutions have grown in popularity as a way to earn…
The scalability trilemma is still one of the blockchain's most pressing issues. Here are some…
Many people are looking for ways to get involved in the crypto world as the…
