The world is becoming increasingly data-driven. And since cyber threats are everywhere, proper identity management is a must. Identity management is the management of users’ digital identities inside a system, like a company’s network. Blockchain solutions like blockchain secure documents and QR codes can ensure fraud prevention.
Identity management is a complicated procedure involving individuals’ identification, verification and authorization to access systems, networks, and apps. People implement robust digital identity solutions to reduce the risk of identity theft, fraud, and data breaches. For example, numerous companies are already pursuing decentralized, blockchain-based approaches to identity management, using this tech’s tamperproof nature.
Well, managing identities helps businesses control and keep their users and resources safe by assigning rights and limits to an identity. It controls user access to only the systems and data they need. However, you may need help with where all the data is and its location. Who is using it, and for what purpose? Is your identity data secure? Has there been anyone who might have accessed your identity data? People who generate the data and industries or governments with the databases are the only ones who know it. It is literally beyond your hands. Hence, it is becoming a big identity management problem in the present time.
Common Identity Management Issues
There are many identity management issues facing organizations and their employees. The changes in technology, threat landscape, and technologies such as Internet of Things (IoT), Bring Your Device (BYOD) policies, distributed systems and workforce, even cloud computing and storage, phishing and hacking scams, and different external requirements from regulations and customers have partly introduced these issues.
These changes and demands further complicate how organizations and their experts manage user identities in systems and protect systems from threats that often target users and their access rights to gain unauthorized entry into systems. Though there is a growing number of identity and access management challenges across the world, there is even an increasing number of identity and access management solutions and tools that organizations depend on for responding to evolving challenges.
Blockchain Technology can Help
Blockchain technology can solve this issue of identity management by providing a safe solution without any central authority. One can use this technology to create a blockchain identity, making it easier to administer for people and offering more control over who has access to their current data and how they can access it.
You can allocate a digital ID to every online transaction that works as a digital watermark. You can develop it by blending the decentralized identity blockchain concept with digital identity verification. For example, one can use a blockchain-based secure QR code to guard the data. You can scan the QR code if you want to access your identity information. The code will reveal the authentic data once the hash value on the code matches the hash value on the code on the blockchain network. This way, the identity data stays secure and tamperproof.
This concept may assist firms in confirming the digital identity of every transaction in real time, diminishing fraud rates. Consumers can be in a position to sign in and verify payments without requiring to provide any username or password data. Consumers can use a Blockchain-based app to validate instead of traditional identity systems such as a username and password.
The Bottom Line
You can reap better results by using blockchain for file transfer, sharing data, verifying and ensuring secure identity management. Learn at ProofEasy how to implement blockchain solutions for solving identity management issues.