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How Blockchain can help improve IAM?

The digitization of society is driving the digitalization of identity. Paper-based forms of identity are becoming increasingly unfit for the digital world. It is unclear, though, how emerging technologies will reshape identity in the future. In organizational settings, identity and access management (IAM) technologies have a large role in identifying, authenticating and authorizing who accesses services or systems. Identity attributes are the labels attached to identities: employment, nationality, relationship to a service provider, access to government entitlements.

Distributed ledger technology (DLT) is among several emerging technologies that present potential models for IAM. At its core, it enables transactions, authentications and interactions to be logged and verified by a network rather than a single central authority. DLT is best understood as an umbrella term that encompasses various distributed designs for data security.

Here are 10 ways blockchain improves IAM:

1. Multiparty verification

2. Verifiable credentials

3. Distributing attributes

4. Accessing attributes

5. Attribute provenance

6. Data minimization

7. Audit trails

8. Compliance verification

9. Self-sovereign identity (SSI)

10. Decentralized identifiers (DIDs)

 

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