Will Decentralized Auth Change the Perception of Consumer Identities in 2022?
Introduction Every day, we encounter various events where we need to verify our identities. Whether you’re applying for a loan, booking flight tickets, or signing up online for a service, identity verification is crucial. However, most conventional authentication processes are inconvenient and even threaten consumers’ details. Whether we talk about inappropriate data collection and storage or a loophole in managing consumer identities, anything could lead to compromised sensitive information. Here’s where the concept of decentralized authentication in identity management comes into play. Storing essential information like name, address, and credit card details at a centralized location could mitigate the risk of identity disclosure or a breach of privacy. Let’s understand how decentralized authentication paves the path for a secure and seamless authentication process across multiple platforms in 2022 and beyond. What is Decentralized Authentication? Decentralized authenticati...