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Blockchain And Decentralised Identity Management: A New Frontier In Cybersecurity

Inc42 · 9m

Blockchain is a decentralised and secure technology that is resistant to tampering and fraud. Originally designed for cryptocurrencies like Bitcoin, blockchain is now widely used in various industries. It plays a crucial role in executing smart contracts, reducing the need for intermediaries and improving process efficiency. Blockchain also has significant applications in cybersecurity, addressing concerns such as data breaches and identity theft. Its transparency, encryption, and immutability make it ideal for identity management systems. Real-world examples like uPort and Sovrin showcase the effectiveness of blockchain in securing digital identities. However, scalability and regulatory issues remain challenges for widespread adoption. Despite these limitations, blockchain holds great potential for enhancing security and privacy in our digital world.