Blockchain : How exactly can blockchain technology ‘revoutionize’ digital ID?
I’m seeing a lot of articles about how “[How blockchain can give us back control of our identity](https://medium.com/torque-capital-partners/how-blockchain-can-give-us-back-control-of-our-identity-and-help-avoid-another-facebook-cambridge-eda2fd7303ee)”. However, as much as some authors and websites are banging on (and on) about how blockchain tech could revolutionise digital ID, I still don’t get how blockchains could give us control over our personal data and make this data more secure.
For example, with regards to the point that a blockchain-based ID system could give us control over our IDs, I don’t see how we could have such control when a distributed ledger, by definition, keeps a record of all data on *every single node*. Would it be similar to how, say, Bitcoin payments work? Every node has a record of how much money you have in your wallet, but only you have the private key that actually sends that money to someone else?
What is the Blockchain?
A block chain is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency’s block chain contains every transaction ever executed in the currency. With this information, one can find out how much value belonged to each address at any point in history.
Author: UnArbreVert
Score: 3
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