One of the most problematic results of the internet age has been identity security. As diligent as many individuals and organizations are in maintaining their online identities and securing private information, there are always nefarious actors looking to steal and profit off of these digital items. Blockchain technology has already demonstrated the potential for transforming the way that online identity management takes place.
Blockchain offers a tremendous level of security, thanks to independent verification processes that take place throughout member computers on a blockchain network. In digital currency cases, this verification is used to approve transaction blocks before they are added to the chain. This mechanism could just as easily be applied to other types of verification procedures, including identity verification and many other applications as well.
The applications for blockchain and identity management are wide-ranging. For instance, blockchain could potentially be used to aid in maintaining voter information and ensuring proper functioning of the electoral process. Blockchain could be used to securely and efficiently transfer user data across platforms and systems. The technology could also be used to maintain and protect records of real estate ownership, titles, and more.