With IOTA Identity, the IF presents a platform to unify identity under a single protocol, with seamless interaction between all forms of identity. People will be able to identify and trust other people and organizations online, reducing fraud. Devices will be able to trust other devices, increasing the security of systems dramatically. IOTA Identity strengthens a digital identity and provides proof of ownership of physical properties in digital forms. This bridges the gap separating the physical and virtual world, solving limitations in identification on the Internet. The protocol is built with “data protection and privacy by design” and complies with privacy and data management laws around the world, such as the European General Data Protection Regulation (GDPR).
With IOTA at its heart, Identity forms a neutral and trusted protocol for identification. There is no controlling entity on the network with incentives to make a profit, nor does the network have any form of access control. The network is public and permission-free. Anyone can participate on their own terms. IOTA’s numb transactions ensure that identity management is functionally free.
While digital identity often focuses on people’s sovereign identity, this solution provides unified identity. Not only people, but also organizations, devices, and even objects can be given an identity.
“The Holy Grail of our digital economy is decentralized identity. As one of the leading DLT protocols and foundations, we are taking the next step to make the vision of a decentralized identity a reality through IOTA. This includes machine, human and organizational identities.” – Dominik Schiener (Twitter)
Mathew Yarger (IF) has written a very interesting article about a unified identity. You can read it here.
Last Updated on 17. February 2021