Blockchain based digital IDs into Daily life

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[{"type":"txt","id":"rich_1663188295645","data":"While many aspects of modern life have been revolving around the technology, our primary methods of identifying ourselves are still largely based around physical documents. <\/p> <\/p>Blockchain could change that by creating a digital ID through which we could control access to everything from our passports to our bank accounts. This digital ID secures the various bits of our identities used for different purposes.\n<\/p> <\/p>Instead of offering up these pieces of information to an assortment of third parties, all of this information would instead be stored as part of a distributed ledger. This way, has plenty of advantages. Third parties would have to request access to the specific information they need from the digital ID, putting control of that information back in the hands of its owner. <\/p>"},{"type":"txt","id":"rich_1663188295646","data":"Benefits of blockchain-based digital Ids <\/b><\/p>While blockchain\u2019s elevator pitch is heavily inclined toward immutability, the technology boasts multiple advantages over traditional software and paper-based systems.<\/p>Self-sovereignty stands as one of the biggest benefits of blockchain-based digital IDs, according to Martis. This means that blockchain empowers users to share partial or selective information with their service providers instead of handing over their complete identity.\n <\/p>"},{"type":"txt","id":"rich_1663188295647","data":"Identity Theft <\/b><\/p>Using blockchain to implement a far-reaching digital identification platform would offer up a host of tangible benefits. However, if we want to make this digital ID a reality, we must take into consideration any negative side effects.\n <\/p> <\/p>Using blockchain to implement a far-reaching digital identification platform would offer up a host of tangible benefits. However, if we want to make this digital ID a reality, we must take into consideration any negative side effects. <\/p>"},{"type":"txt","id":"rich_1663188295648","data":"Limitations of blockchain-based digital IDs <\/b><\/p>Mainstream acceptance of blockchain-based digital IDs will ultimately have to mean overcoming the most pressing challenges that threaten to hinder its adoption. Some of the roadblocks that stand out in the current landscape include a lack of education among the masses and a supportive regulatory environment.\n <\/p>"}]

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