Blockchain is a technology that can be used for digital identity management. It allows users to have a self-sovereign identity, and it is the basis of a number of applications in healthcare and other sectors. This article explores some of the technical and legal aspects of this technology.
Self-sovereign identity
Self-sovereign identity (SSI) is a digital identity approach that offers full control to the user. The user gets to decide who can see and access his or her data, as well as who can create and manage their own digital identities. It is based on blockchain technology.
Blockchain has been used for many applications, including financial services, health care, and public transportation. However, it is important to note that these systems do not offer 100% decentralized identity management.
A proposed system uses the technology of blockchain to enable unified identity management. Based on standard schemas defined by stakeholders, the proposed system enables users to generate and use decentralized identifiers, which are stored on a blockchain.
These identifiers can be linked to documents and credentials. In addition, decentralized identifiers give the user greater control over his or her data and can increase portability.
The SSI principles can be applied in different sectors, including workforce recruitment, public transportation, and healthcare. The proposed system falls under Mobility-as-a-service.
Social value proposition
There are several ways in which a decentralized digital identity solution can be applied. As a result, it is a useful tool to address the social needs of vulnerable citizens. These include proof of identity, access to financial services, and the ability to prove the identity of one’s dependents. A decentralized identity model also has the advantage of providing a secure and convenient means of proving consent and controlling personal data.
In fact, a decentralized identity model is a scalable solution that can reshape the way we manage and use our personal information. In addition to enhancing privacy and security, it enables users to unlock value. Those who have the requisite ID will find that they are able to participate in the global economy in a more meaningful manner. For example, a study by McKinsey has shown that the unbanked population of ASEAN could contribute $52 billion to the global economy by 2030.
A digital identity based on the blockchain technology is no different. The best part is that it demonstrates a clear social benefit and a measurable return on investment.
Technical and legal aspects
In the realm of digital identity management, the technical and legal aspects of a system are important. Specifically, the system should be transparent, secure, and able to transport the user’s name to a variety of systems.
Using the blockchain, an identity can be verified by a trusted third party. An identity can also be traced by an identifier that is decentralized and linked to credentials. The system may even have the capability to link a person to an associated document or database.
The use of the blockchain to power identity management has the potential to create new types of identity management systems. Several companies are already exploring the concept. For instance, Sovrin has built a network that can provide authentication services for a wide range of users.
While it is difficult to define the exact technical and legal aspects of a digital identity system, there are several key factors to consider. First, the benefits of using a blockchain to manage identities are clear. By creating a tamper-proof, immutable ledger, it is possible to eliminate fraud. Second, the system could be used to store sensitive information such as financial records in a bank. Third, the technology could be applied to IoT management systems.
Applications in healthcare
The applications of blockchain digital identity management in healthcare are many and varied. They include support for clinical trials, improved data privacy and security, safe interoperability, enhanced accountability, and much more.
The healthcare industry is facing major challenges such as high hospital costs, inefficient practices, and constant data breaches. The applications of blockchain digital identity management in healthcare can help solve these problems.
By combining the Internet of Medical Things (IoMT) with a distributed ledger platform, the pharmaceutical industry can gather and record data in real time. This will help medical professionals to more accurately diagnose patients and deliver precisely adapted prescription drugs.
Blockchain will also provide a secure and traceable data storage solution, which will ensure that all records are protected and unavailable from unauthorized parties. It will also help prevent counterfeit medication from entering the supply chain.
With the applications of blockchain digital identity management in healthcare, patients will have greater confidence in their health care. This will help improve patient safety and bed use.