What is Self-Sovereign Identity?
Self-sovereign identity (SSI) is a decentralized identity management system that empowers individuals to own, control, and manage their personal data without relying on a central authority. In the context of blockchain technology, SSI leverages cryptographic methods and decentralized networks to enable users to verify their identities securely.
With SSI, individuals can create digital identities that are portable and can be easily shared with trusted third parties, such as service providers or organizations, while maintaining privacy. This contrasts with traditional identity systems, where personal data is often stored in centralized repositories, making it vulnerable to breaches and misuse.
Key principles of SSI include:
- Ownership: Users have full control over their identity data.
- Portability: Identities can be transferred across different platforms without loss of integrity.
- Privacy: Users can choose what information to share and with whom.
- Interoperability: SSI solutions work across various ecosystems and applications.
By promoting user empowerment and security, self-sovereign identity represents a significant shift in how identity is managed in our increasingly digital world, promising greater transparency and trust.