Blockchain technology is stepping in as a game-changer for identity verification, offering decentralized user-controlled solutions that could establish trust in the digital economy.
Companies face increasing pressure to confirm identities while balancing privacy and security, making blockchain's decentralized identity management crucial for restoring user trust.
In traditional identity systems, centralized databases led to security breaches and privacy concerns; blockchain allows users to maintain ownership of their identity information.
With 1.1 billion people globally lacking a way to claim their identity ownership, blockchain technology enables individuals to control their data and share it securely.
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