Join today’s leading executives online at the Data Summit on March 9th. Register here.
This article was contributed by Deepak Gupta, cofounder of LoginRadius, tech strategist, cybersecurity innovator, and author.
Today, almost all of our digital identities are linked through devices, apps, and services. Service providers control these digital identities and their respective digital identity data.
Because of this, users are now experiencing misuse of personal data and data breaches that affect their social, financial, and professional lives.
Additionally, giving access to multiple third parties or service providers from different applications makes it harder for users to manage their personal data and revoke access to their information. Users need to own and control their digital identities to address these concerns, preferably from a single source.
A centralized system makes user identity data extremely prone to cyberattacks and privacy breaches. But decentralized identity solutions provide a new horizon by enabling users and service providers to…