Decentralized: Blockchain is one of the buzzwords that triggered a wave of innovation and pioneer spirit in the identity and access (IAM) community. The promise of secure registration and access, but with less effort, identity verification, and overly complicated password requirements — it’s almost too good to be true.
For upon |Imagine you move to a new country and need to register for all kinds of services: voting, driver’s license, banking, electricity, entertainment subscriptions. Right now, you have to register individually with each service provider and prove your identity to open an account. And every time you want to access this account, you need to prove your identity again, either by password or other credentials.
The Decentralized ID is going to change the world. They say that data is the new oil. However, digital oil comes in many forms in volume, variety, velocity, and veracity inside the cyber domain. But the best form of data is when it has value. Identity is data with value. It is the global currency for the global economy.
Human Identity is the new global currency. The most important assembly of data fields or Kappas of data is undoubtedly your data that make up the heart of your Identity. At CrowdPoint, they call it a Sigma Prime.
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According to their blogs at www. crowd point. exchange and www. advanced medicine. exchange, it says that once your data corroborated with access to vast amounts of increasingly detailed transactional data, a Sigma Prime is organized into assemblies of data fields called Sigmas.
They argue that these Sigmas are what companies and organizations (such as credit bureaus, Facebook, and others) can profit from using your Human Identity. When your Identity matches transaction data, it is worth $ Trillion. In other words, once your Identity is compared to other data that is semantically, thematically, temporally, and spatially organized, Big Tech companies can herd you to make a purchase.
That is the best description of what I have read about, called surveillance capitalism. The Human Identity is so valuable; our friends and our foes are stealing from us! The Human Identity is the precious silver that drives $6 Trillion in global cybercrime and all of the worldwide commerce today.
Decentralized Identifiers (DIDs) represent an exciting breakthrough in the field of identity management. In CrowdPoint’s Blockchain Ecosystem, they are the vital component in a new layer of decentralized Identity.
CrowdPoint employs cryptography and critical public infrastructure to provide a much better way of using the Internet.
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