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Can blockchain change the face of identity management?


Identity on the Blockchain

As much as you’d like to think you control your identity, you really don’t. Vast repositories of information about you are controlled by private companies that make money every time another company needs to validate who you are. Today, we have an identity ecosystem that requires thousands of organizations to pay these identity holders to perform some sort of “proofing” to validate that a user is who they claim to be:

  • Your bank may have validated your payroll.
  • Your hospital may have validated your birth.
  • Your government may have validated your SSN.
  • Your mortgage company may have validated you creditworthiness.

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