Results for tag: "Self Sovereign Identity"

Self-sovereign identity (SSI) is a term used in IT security to describe a digital identity model where individuals have sole ownership and control over their personal information. Unlike traditional identity systems where third-party identity providers manage and control personal data, the SSI model seeks to empower users to assert their identity online without relying on external authorities. This is achieved by using technologies like blockchain and decentralized identifiers (DIDs) that enable the creation of verifiable and secure credentials across various applications and services. In an SSI system, users create and manage their identity wallets, storing credentials that can be presented when required without exposing unnecessary personal details. The adoption of SSI is motivated by the need to enhance privacy, reduce the risk of data breaches, and improve the user experience by simplifying authentication processes across different platforms. Furthermore, the concept aligns with evolving data protection laws and the increasing demand for user-centric identity solutions in IT security. Some companies participating in the SSI market include Evernym, which specializes in self-sovereign identity solutions; uPort, offering an open identity system for the Ethereum blockchain; Sovrin, focused on providing a decentralized identity network; and Civic, a platform for secure, blockchain-based identity verification. Other players in the market include Ontology, which provides a high-performance public blockchain for identity verification and data exchange, and IBM, extending its enterprise IT and blockchain expertise into the realm of decentralized identity services. Show Less Read more