Blockchain digital identity management provides individuals total privacy and control of their personal information while making data shareable on a trusted network.
Blockchain has opened enormous opportunities for various sectors.
Right from birth certificates to graduation, details are available over the internet in centralized servers.
Hence, decentralizing the information and encrypting with strong tech can be the solution for this sector!Here come the blockchain digital identity management solutions!In this blog, let’s look around how blockchain renders solutions for this chaos and the areas that can be enhanced with blockchain digital identity management!How can blockchain be the best solution for digital identity management?The invention of the internet and digitalization has paved the way for threats too.
Digitalized ID’s can be vulnerable to attacks if managed by central authorities and governments.
As the data is decentralized and encrypted with cryptographic codes, the hacks, single-point failure, and natural calamity damages can be resisted.
The transparency, immutability, easy reconciliation of identity records are added advantages of blockchain digital identity management.
Why the CrowdPoint Blockchain is unique: Since the birth of the worldwide web, our data has become the new slave trade where our data is sold to the highest bidder and is held hostage by Big Tech.
CrowdPoint Blockchain digital platform allows our data (the new oil) to be decentralized and incentivize the individual for its use.
THAT IS REAL CHANGE, taking back our digital identity and leveling the playing field.
A digital identity is the body of information about an individual, organization, or electronic device that exists online.
It includes all the unique identifiers and uses patterns that enable the detection of individuals or their devices.Why is Digital Identity Important?Digital identities and management are crucial for your business growth and expansion.
Historically, identity management has often concentrated on an enterprise's internal users such as staff, contractors or others inside the supply chain.
It was about ensuring that these users had the right access levels required to perform their jobs.However, in this age of digital transformation, the ability to grasp and leverage the influence of external digital identity is crucial to effectively scale businesses.
Businesses are now relying heavily on external, user-centric identity systems that provide the infrastructure for the multi-channel creation of robust customer profiles.How Digital Identities Can Help BusinessesBankingeCommerceGaming & GamblingGovernmentHealthcareInsuranceLendingMediaPaymentsTravelGet to know more about Digital Identity in the article by Techfunnel.
These are all common and good questions to ask frequently to ensure your life and the subsequent actions are leading you to where you want to go.
Through my efforts of helping businesses in any sector find solutions to multifaceted problems, CrowdPoint was an answered prayer.
It’s an ecosystem that levels the playing field for entrepreneurs while protecting one of our most valuable assets, our identity.
It’s time to turn the tables.
Join me and thousands of others in this journey to take back our basic human right to privacy.
If that wasn’t enough, the CrowdPoint marketplace offers exceptional goods and services provided by real people, real entrepreneurs that give excellent customer support, and source fantastic products.
According to a market research report "Digital Identity Solutions Market by Solution (Biometrics and Non-Biometrics), Authentication Type, Deployment Mode (Cloud and On-Premises), Organization Size (SMEs and Large Enterprises), Vertical, and Region - Global Forecast to 2024", published by MarketsandMarkets, the digital identity solutions market size is projected to grow from USD 13.7 billion in 2019 and expected to reach USD 30.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 17.3% from 2019 to 2024.The increased focus on enhanced customer experience is anticipated to be a major driver, and the trend is expected to continue for the digital identity solutions industry.
Additionally, the need of multi-purpose single digital identity and technological advancements in terms of Artificial Intelligence (AI), Machine Learning (ML), and blockchain have bolstered the potential use cases across verticals.Browse and in-depth TOC on “Digital Identity Solutions Market” 135 - Tables32 - Figures177 – Pages Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=247527694 By solution, biometrics to hold a larger market size during the forecast periodDigital identity management solutions evolved from passwords to biometric authentication, such as fingerprint, facial recognition, retina or eye scan, handprint, and voice recognition.
The biometric features are unique for every individual.
These solutions follow lock and capture mechanism to authenticate the individual and allow access to specific set of services.
In addition, the increasing complexities of supply chain, employees, channel partners, and customers are expected to force retailers to adopt managed authentication services.
Hence, digital identity solutions are gaining traction in the retail and eCommerce vertical to safeguard users from potential critical incidents and enhancing customer experience.Speak To Analyst@ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=247527694 North America to hold the highest market share during the forecast periodNorth America has sustainable and well-established economies, which empower it to invest significantly in Research and Development (R) activities, thereby contributing to the development of new technologies in the digital identity solutions market.
