Blockchain: The Dawn of Decentralized Identity
Through 2022, only 10% of enterprises will achieve any radical transformation with the use of blockchain technologies.
Key Recommendations that Identity and Access Management Leaders should take:
- Explore decentralized identity architecture as an alternative to registration and verification of identities, especially if your organization is planning to modernize its customer/citizen identity management in the coming years.
- Establish a decentralized identity team to initiate a limited-scale POC project to evaluate decentralized identity services. The team should experiment by adapting in-scope business processes to work with these solutions.
- Evaluate your requirements against open issues in current decentralized identity solutions, such as compliance, initial identity proofing and binding, key management and user experience, ITF reliability and scalability, and attribute/certification revocation and update.
Take a look at how IAM leaders can use blockchain to simplify identity verification.