Role of Blockchain in Self-Sovereign Identity and Digital Credentials
Blockchain technology has revolutionized the way we manage self-sovereign identity and digital credentials. The following are some properties of blockchain that serve a purpose in self-sovereign and digital credentials:
- Blockchain makes Digital credentials, such as certificates and degrees, safer, validated, and kept on a decentralized, tamper-proof ledger. This gives people and organizations a trustworthy and transparent mechanism to access and exchange these credentials, increasing their overall trust and confidence in the validity of digital information.
- Blockchain makes trust possible since it gives people complete control over their data. Users with a decentralized and immutable ledger may control and distribute their data on their terms, independent of centralized authority or middlemen.
- Blockchain ensures high data privacy and security when it comes to self-sovereign identity and digital credentials, the data is shielded against unauthorized access and modification by blockchain technology’s distributed ledger and cryptographic mechanisms.
- The blockchain decentralized structure makes it possible to independently validate credentials without depending on a single authority. This increases confidence and trusts in the accuracy of digital information and guards against fraud and deception.
Blockchain, Self-sovereign Identity and Digital Credentials
A decentralized, secure ledger that is open to many parties is blockchain. It keeps track of all computer network transactions, and once data has been stored, it cannot be altered or removed. Consensus methods and cryptographic techniques—which call for agreement among network users—are used to accomplish this security. The network keeps the ledger up to date and uses consensus to confirm transactions, preserving the accuracy of the data.
In this article, we will discuss What is SSI, Digital credentials, and how they used blockchain technology extensively.