Identity defines us.
It is how we describe, authenticate and qualify ourselves. Who owns our identity? The answer isn’t simple.
Which version of your identity and what purpose or control are you seeking to maintain?
- Decentralized identities (DID’s)
- Self Sovereign Identity (SSI)
- Web of Trust
- Know Your Customer (KYC) / Anti-Money Laundering (AML)
That’s just one data point from which to start a conversation. It’s important to ask from what perspective you’re asking the question. Data that’s relevant, registered and recorded by Government, for business or by the individual. That question and answer will trigger a cascading series of questions and answers.
- How is the data stored?
- Who stores it?
- What access is available, to whom and at what cost?
- Who can change it, how is it verified, can it be deleted?
- Who is shared with, how is it shared and how can it be recalled?
- Is it secure, how is fraud addressed, who’s liable?
That matrix will lead you to very different outcomes, with very different obligations and consequences.
Blockchain and DLT protocol solutions address these issues. Incorporating a multitude of variable, executable in accordance with pre-defined parameters.