In our identity system, governments and banks become attestation providers, rather than guardians of identity, by issuing verifiable claims about an individual, that the individual can then store and manage for themselves – says Alex Edelstein, marketing manager at uPort.com i Bithub.pl’s #SundayInterview
What is sovereign identity and what’s the use of it?
Alex Edelstein: In its most basic sense, self-sovereign identity puts the user in control of their identity and the personal data associated with it, without relying on centralized service providers.
The current identity models treat user data as a product, with every digital service requiring the user to create an account, verify their identity, and store their data with the business rather than the user.
Businesses then monetize and exchange this data for their own gain. Time and again we have witnessed the consequences of this system, with the Equifax breach just the most recent instance of user data being compromised.
Self-sovereign identity aims to solve these problems by putting the user at the center of the identity system and giving the individual control over their identity and which third parties get to access it.
Full interview available on https://bithub.pl/english/sundayintervi ... onal-data/