The lack of a credible identity system in the digital world is a big issue that must be addressed soon. There is no way to produce identities that can be consumed all across the globe. Various companies are offering crowdsourcing based solutions and the lack of verification methods and credibility is costing them a lot. It is a big challenge to convince all the governments, industries, and consumer on a single framework. It is difficult to achieve and the Decentralized Identity and Access Management (DIAM) is trying to build such a framework that can produce a globally acceptable identity.
The difficulties with the current system:
It is not easy to own an identity in today’s time. It is very dangerous to own an identity without accurate recovery and safety. First, we need to address the cryptographic and technological challenges before accepting an identity. The dangers of hacking or permanent loss are always there. It is a big technological challenge in today’s time to own an identity. It is a big challenge because it needs the following:
- Modify and control ID characteristics
- Relating public keys with the ID
- Recovering the lost control of the ID
- Associating with the third party authorizations and claims
- Limited sharing of attributes
A number of organizations are currently relying upon the centralized systems for identity verification. Now it is important to equip the global identity trust fabric with a decentralized system, which will be safe against threats of outer systems and inner systems. Such a system would not be vulnerable to any sort of identity threat and that’s why DIAM is focusing on offering such an ID creation and authentication system, which is based on blockchain technology.
Featuring a system that will constantly validate the identity:
It is better to have no details instead of having false information. The DIAM is committed to providing you with highly reliable details. It will timely validate the data to keep the details up-to-date. Whether a consumer changes his number, loses his phone, moves to another house or town, his details will be authenticated and up-to-date according to his current status. The DIAM will create an ecosystem that will contain reliable information about the end users that can be used by the SMEs and e-retail giants to market their products in a more effective manner.
How effective DIAM’s solution is?
This platform is using the blockchain technology and cryptography to decentralize the identity. It has a distributed architecture that will meet the demands of ambient computing, where the world is moving now. It will provide every user with a globally unique identifier that will never change. It will be verified and non-synthetic nature of the ID will make it widely acceptable. The IDs provided by DIAM will be associated with a living human being. It will not be possible to forge that ID and irrevocable ownership will authenticate that ID. The world would require a digital ID system that can be DIAM. It is a futuristic project based on the needs that will erupt in the future. So, investing in it would be a great decision.
Posted from my blog with SteemPress : http://cryptofleck.com/index.php/2018/08/27/diam-offering-unique-and-globally-accepting-identity/