Thursday, February 22, 2018

Blockchain For Identity Management: It’s Years Away

Blockchain For Identity Management: It’s Years Away:



"Rather than lodging a virtual currency transfer, it's possible to embed identity information in the ledger. The broad vision is a blockchain could be a tamper-proof reference point to verify personal data without having to expose the actual data to a service provider.

Consumers would be in control of their identity information, a concept referred to as self-sovereign identity. That reduces the chance that a data breach would spill their details all over the internet."

"But many analysts contend that it will be years - if not decades - before blockchain-like technologies may be used for identity at scale.

"When I talk to people who really understand what blockchain-based technology is about, they will quite openly say we're talking about 10- to 20-year time frames here," says Martha Bennett, a principal analyst with Forrester who has been studying the area for three years."