How BlockX is facilitating seamless storage for digital identities
Identities can be defined as the summation of an individual’s personality and achievement. Essentially, identity is what defines a person, their status, and how others view them. As the world continues to evolve, humans have found a way to document everything that could help sum up who they are. This could be their education records, national identity, social club, philanthropic achievements, and sports records, among other things.
All of these individual exploits could become valuable assets if they are backed up by legal authorities or endorsed by renowned individuals and organizations. The certificates issued by these entities could be digital identities that can be showcased to the public.
The advent of digital technologies has been a major milestone in documentation and record-keeping. Nowadays, it is easy to move around with digital copies of records, identities, and certificates. This helps to remove barriers such as loss, theft, or damages.
The emergence of blockchains like BlockX has further created an avenue for the seamless storage of digital identities. Blockchain offers a secure and immutable network where digital identities can stay tamper-proof.
All assets that are considered valuable in the physical world can be safely stored on the blockchain. Some of the individual assets that fall into this category include;
The blockchain network is an immutable network. This means that blockchains are tamper-proof. All data contained on a blockchain network cannot be altered or erased. Blockchain helps to create a medium of trust between parties who seek to verify digital identities. Individual records that have been stored over time can be accessed without the fear that such records have been altered or modified.
Records on the blockchain are easy to access from any part of the work. There is no geographical restriction or barriers. Files and documents can be accessed within minutes. Thus, it removes the procedural barriers to documentation.
Individual records are personal documents. Blockchain technology ensures that they are securely stored on the network. Only authorized parties are granted limited access to them over a period of time. Once a verification process is complete, such credentials are made private to their owner alone.
Blockchain helps to eliminate challenges such as theft, manipulation, or physical damage. Digital identities are stored on an immutable network that has no single point of failure. As a result, even when a few nodes on a blockchain network go down, the entire system remains functional. Additionally, blockchain networks are cryptographically encrypted. This makes them hard to breach and less prone to hacks that could significantly impact network activities.
Blockchain has emerged as the latest iteration in the evolution of digital identity management. It provides a solid option for all individuals who wish to safely secure their records and still make them accessible to entities around the world.
Catch the latest news around the BlockX ecosystem, from exciting partnerships to insightful and educational articles about the technology that makes BlockX Blockchain truly unique.
The cryptocurrency market has gone down the rails once again. A correction of sorts is usually healthy, but the recent developments in the space have massively increased uncertainty and doubt.
The key advantages and disadvantages of centralized exchanges