If you are wondering about the Blockchain identity system, this article is for you. Today we will talk about Self Sovereign Identity use cases and why we need that. So Let’s find out more by reading this article.
What are Self Sovereign Identity use cases?
Self-Sovereign Identity (SSI) is a term used to describe the digital movement that recognizes that individuals should own and control their own identities without intervening administrative authorities. SSI allows people to interact with the same freedom and trust in the digital world as they do in the offline world.
Everyone (both enterprise and IoT) has a different relationship or unique set of identifying information. This information could be date of birth, citizenship, university degree or business license. In the physical world, these are represented as cards and certificates held by the identity holder in a safe place such as a wallet or safe, which are presented when the person needs to prove their identity or some information about their identity.
Self-Sovereign Identity (SSI) brings the same freedom and personal autonomy to the Internet in a secure and reliable identity management system. SSI means that individuals (or organizations) digitally manage the elements that make up their identity and control access to those credentials. With SSI, the power to control personal data rests with the individual, not the managing third party that grants or tracks access to those credentials.
The SSI Identity System enables you to use your digital wallet and verify your own identity using your issued credentials. You no longer need to hand over control of your personal information to dozens of databases every time you want to access new goods and services, or risk your identity being stolen by hackers.
While Self-Sovereign Identity (SSI) may sound like an unfamiliar concept to some, others are actively using the technology to address industry-specific challenges – such as the Financial Conduct Authority or IATA travel passes. Overall, the shift to the SSI paradigm is starting to gain more support, and 2022 will be a big year for global SSI adoption.
Why do we need self-sovereign identity?
Simply put, Self-Sovereign Identity (SSI) is an identity method that centralizes control of information around the user. It protects privacy by eliminating the need to store personal information entirely on a central database and gives individuals more control over the information they share.
Hopefully, now you will understand why we need self-sovereign identity & Self sovereign identity use cases. Self-Sovereign Identity is a promising technology that gives you control over your data. However, to deliver the real value of a technology, a governance framework must be established for its operation.
