useing technology

1. Uses And Benefits Of Identity
Management Using Blockchain
Technology
Introduction
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Having a record about yourself, what you look like, qualities unique to you, the qualifications
you possess, and traits that distinguish you from another is an essential part of the digital
economy we currently live in. Today, digital identification is preferred over traditional
identification methods for innumerable reasons, ranging from easy accessibility to all online
services, streamlined processes and accuracy, to a superior protection of privacy. With
digitization enabling the creation of handy, authenticatable identities, the necessity to
ensure that sensitive information remains private has become absolutely necessary. Identity
management, one of the crucial aspects of digital identity, is the technology based on which
someone is granted or denied access to organizational services or systems.
How Does Blockchain Technology
Support Identity Management?

2. With the arrival of blockchain technology, we have been made familiar with
decentralized identification systems. These help us to manage our identity independently,
with zero dependence on any centralized agency. Considering the fact that maintaining
digital identity is subject to hindrances such as identity theft, maintaining a confusing
collection of usernames and passwords to access different online services, it poses a
general difficulty to manage. With blockchain technology, we can create identity
management systems that are protected, encrypted, and user-friendly.
The basic idea is that sensitive identity-related data is saved directly onto a tamper-proof
blockchain system which is always accessible exclusively to the owner online. Alternatively,
third parties could be provided with access to the blockchain with data relating to the
owners’ identity which would do away with the necessity to keep this data stored anywhere
else.
Some Use Cases of the Blockchain
Identity System
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The scope of blockchain utilization for identity management is slowly unfolding; offerings
related to the technology continue to develop and manifest:
1. Self Sovereign Identity- Conventional systems related to identity
management have always been messy, convoluted, and prone to misuse.
Utilizing the blockchain system of Self Sovereign Identity gives owners
absolute control over their digital identity, eliminating involvement from
intermediaries. For this purpose, trustless, portable blockchain based
structures are already in use.
2. Generating permanent identity records- Information contained within a
blockchain cannot be altered or tampered with, without disrupting the
entire chain. Records created utilizing this technology are permanent,
immutable, and absolutely protected.

3. 3. Identity management for IoT systems- Identity management for IoT devices
involves ensuring secure, accountable, and verifiable transactions for
interactions involving IoT-to-Users and IoT-to-IoT. Currently, projects
based on blockchain are employed to ensure secure IoT transactions.
4. Smart contracts- The concept of decentralized, shared ledger systems,
formulated utilizing blockchain technology could be used to fabricate
identity-enabled self-executing smart contracts.
5. Other applications- Identity verification while immigrating to another
country, making online purchases, undergoing legal processes, applying
for a loan, or background verification processes could be enacted utilizing
this technology.
Benefits of Blockchain Based Identity
Management
Let us take a closer look at some of the benefits of blockchain based identity management
for users and businesses:
1. Trustlessness- In a distributed ledger system, decentralization is ensured,
which entails that owners no longer have to place their faith on any third
party.
2. Safety- Since all the information stored in a blockchain is encrypted and
tamper-proof, the identity details remain secure, accessible to only the
owner.
3. Elimination of dependency on paper-based identity management- The
creation and storage of identity on blockchains means that you never have
to go through the process of applying for a duplicate if the need ever
arises, saving your time and resources in the process.
4. ID verification simplified- The automation of processes initiated by this
technology does away with cumbersome manual chackes, streamlining
processes for everyone involved.

4. 5. Great user experience- Uploading digital identity onto a distributed ledger
is a breeze, with the entire process being as uncomplicated as installing an
app and entering identity related proof and information.
6. Transparent while being private- People involved in the blockchain system
can track down details of transactions made, while privacy for everyone is
made certain.
7. Uniqueness ensured- On the blockchain system, owners receive a unique
ID number that is permanent, incorruptible, and can be used to efficiently
validate themselves.
Overview
Blockchain, the technology previously associated almost exclusively with cryptocurrency,
has evolved into a comprehensive framework that is being implemented into different
industry sectors. As a still developing technology, blockchain is not completely impervious
to contamination in that counterfeit data can still be verified, for example. Yet, it is still
regarded as a secure and reliable solution for issues related to identity management.
Utilizing blockchain technology along withensures accuracy, privacy, transparency, and
anonymity.
GeekyAnts, as a leading Blockchain and company, offers blockchain solutions for
identity management to users and businesses looking to streamline, automate, and
efficiently handle processes. The company is well known within the development community
for their experimental approach towards all things tech and their work on blockchain based
solutions. With an experience of 17+ years, they have already collaborated on numerous
blockchain based projects, transforming a range of industries.