Today’s identity management system is dated, flawed, and feeble. Organizations and individuals are aware of their digital vulnerability and need sustainable, and scalable, solutions.

Technology is on the cusp of a major paradigm shift in the field of identity. Blockchain will create a major revolutionary transformation in this area — but many questions of how still remain unanswered. Companies, governments and NGOs are beginning to tackle this question in ways that hint at the profound impact this will have on how we live our lives.

Their promise is that our identities will be consolidated so that we have complete control over who accesses that information. This will protect us from increasingly sophisticated fraud and theft. It also will create unprecedented access for the “bottom of the pyramid” who are still off the grid. Imagine crossing any border, and qualifying for any service, with immediate access to your funds and accounts, all with one simple digital ID.

At present, our personal data is in the hands of the third parties we interact with, each party owning different parts of our identity. We’re not only providing them with this information, we’re trusting each party to keep it safe.

As Ron Miller writes, “The argument goes that if our identity were on the blockchain, it would give us more control over this information, and with proper applications allow us to present just the minimum amount of information a given party needs to identify us. That could be your date of birth at a bar, your credit score at a bank or a unique identifier to access an online service.”

We are increasingly tied to our digital signatures, and the promise of a solution that can consolidate and protect those signatures from third parties is too important to ignore.

Powered by revolutionary blockchain technology, Peer Mountain provides the control that organizations and individuals require in order to own themselves. The platform’s unique architecture delivers instant and secure trust assessment for multi-counterparty interactions, without any risk of exposing personal data. Learn more.

https://techcrunch.com/2017/10/17/the-next-revolution-will-be-reclaiming-your-digital-identity/

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