Blockchain and Digital Identity: How Can It Improve Online Security and Privacy?
Personal data circulates on the internet, and when we look at a product in an online store, similar product ads quickly appear. This makes us think that we are being spied on and that the concepts of digital identity and privacy are at stake.
At MIIM, we are experts in Blockchain and internet security, so we bring you this article explaining how Blockchain can enhance digital identity security and online privacy.
Digital Identity
The Universal Declaration of Human Rights includes the right to privacy.
By digital identity, we mean the set of digital data (name, email, bank accounts, etc.) that we use on the internet, in apps, or in digital environments. It also includes our habits, interests, and characteristics, which in the digital world translate to browsing fashion pages, watching videos of a certain music genre, etc.
In the end, by entering our data into the digital environment, we lose control of it, and one of the functions of Blockchain is to improve online security and privacy.
What Does the Legislation Say About Digital Identity?
The General Data Protection Regulation (GDPR) is a regulation that protects the processing of personal data and its free movement within the European framework. The regulation states that citizens can compel companies to delete personal data from their systems.
It’s worth noting that technology advances faster than legislation, so we must comply with the ethical aspects of users operating in the digital world. Unfortunately, the GDPR is falling behind in the protection of digital personal data, giving rise to the concept of Sovereign Digital Identity.
Blockchain and Sovereign Digital Identity
Its goal is to give individuals back control of their personal data. Identity consists of a set of traits used to identify an individual and is called verifiable credentials.
Verifiable credentials are impossible to manipulate as they require the digital signature of issuing entities and are traced immutably, making it easy to detect when personal data is being used.
Both immutability and traceability are synonymous with Blockchain technology. Let’s see how it works.
Blockchain in Digital Identity
It seems that Blockchain technology and the GDPR are incompatible.
With Sovereign Digital Identity, data is not stored; what remains stored is traceability, which helps determine whether users’ personal data is still valid, always maintaining privacy. In other words, Blockchain technology can verify if credentials have been altered or are still valid.
At MIIM, we register and protect your business idea with Blockchain technology, so if you encounter any issues, you can prove that your idea belongs exclusively to you.
