📌 Decentralized Identity Systems Summary
Decentralised identity systems are digital frameworks that let individuals control and manage their own identity information, rather than relying on a central authority like a government or a big company. These systems use technologies such as blockchain to enable secure, private sharing of credentials and personal data. This gives users more privacy and control over who can access their information and when.
🙋🏻♂️ Explain Decentralized Identity Systems Simply
Imagine you have a wallet that holds all your important cards, but instead of a physical wallet, it is digital, and only you decide who can see which card and when. Decentralised identity systems work like this digital wallet, putting you in charge of your information instead of letting a big organisation keep it for you.
📅 How Can it be used?
A company can use decentralised identity systems to let customers prove their age or identity online without storing their personal data.
🗺️ Real World Examples
A university issues digital diplomas to graduates using a decentralised identity system. Graduates can then share a verified diploma with employers, who can easily confirm its authenticity without contacting the university directly.
A healthcare provider allows patients to access their medical records using a decentralised identity app. Patients can choose to share specific health information with doctors or insurance companies as needed, without the provider storing all their data centrally.
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