Identity plays a major role and it is the mandatory system in every industry. Identity rules the entire nation, these policies and technologies ensures the proper person details. While entering into this identity management it covers the entire industries like schools, colleges, IT peoples, Nation’s identity data and so on. Each and every field contains the identity process.
In this blog, we going to share the point of view of identity management’s hurdles and benefits. Let's look into the topic;
Identity Management and its Difficulties
What is Identity Management? What are all the basic challenges occur in traditional Identity management?
It is the process of digital access key authorization. It changes its work modules belongs to the organization utility.
Each industry makes a unique style on creating and maintaining the data of employee and customers identity.
Also, we can not predict what are all the details can be gathered to generate an ID card. It depends upon the organization and Purpose of usage.
On this present situation hacking get spreading on ease way, if we chose our traditional way for Identity management, it can be easily shared or hacked by our hackers.
To overcome these challenges our organization had to invent a new technique in the combination of Blockchain Technology.
Identity Scams and its Types
In recent stats nearly there are 45% data have been hacked by hackers
Credit Cards - This misleads happens in wide range terms, this fraudulent involves with the transaction ID. This purpose may be rising without obtaining goods without buying the product transaction may occur in our cards
Phone and Utilities - Sudden Intimation of scammers they instruct us to pay bills for water supply, electric bills, and gas bill by alerting us with wrong info
Government Documents and Benefits - Recently document bonding all get digitized, all our property bonds details get uploaded this can also get leaked without the knowledge of government staffs and they hacked our data and replaced with duplicate forms
Employment Fraudulent - They can easily replica your details and replace a person on your role. Or else they can theft your account PF details or social security number and stole the savings with your ID
Bank Transaction - Nowadays banking theft gets huge, because of hackers advanced thoughts and innovation. In various ways, they stealing our savings. To overcome these issues blockchain in banking had developed and served for your safety.
Tax Identity - You may satisfy by paying taxes in a regular period, but when it comes to the backend process; it can get stolen or changing your identity to another person. Lately, they may file IT and the claim your refunds; the whole year of your savings will be handover on other hands.
Medical Theft - This medical identity theft creates serious issues, that may cause health-related issues too. Most of the time it occurs to take over your medical insurance. By replacing another name your medical data can be lead to wrong information. Then this could lead another doctor to give a treatment with wrong information.
How to Overcome the Challenges
The question may arise in your head, if this much of issues are listed in Identity management then how could get rid for this issues, for those the solution would be want to monitor our accounts and transaction details regularly. But, by doing this it wouldn't be the permanent solution to solve the problem. Want to change the entire system to maintain this support.
The Solution gets to bind the Identity management with Blockchain Technology
Usage of Blockchain in Identity Management
As discussed above, Blockchain in the versatile technology which creates the revolution on identity management. It stores the information in the decentralized process also it eliminates the middleman process for transaction services. Blockchain offers the potential solution and the challenges of identity management.
It enables a sense of security and allows users to serve multi-purpose management. And let the users know who and why the information is viewed.
How Blockchain Works on Identity Management
Our blockchain services come with a secure authentication process. Our high tech security services manage your identity data and save it from hackers. Here we can know the working style of Blockchain Identity Management
Installation of Mobile apps - We develop mobile apps which support various platforms like android, IOS, etc., Once app created you can generate your own profile and ID number, which is used by other organizations to get access to your identification documents.
Uploading the document - After generating a unique ID, need to upload the government issued IDs on the app. which will be saved in the IPFS having hashed addresses stored in the blockchain. Then your own details will be extracted from those ID’s and you will have the entire control for your information. Without your permission, none of your information will be shared with third parties.
Smart contract generating trust - It usually multiplies the trust, By developing a smart contract you can mention who can access or to use your personal information of your identity data. This will save data from frauds and reduce the complexity in remembering the different combination of user names and passwords.
Third party companies requesting access - This third-party organization is the most secured term for this process. Each time you will get a notification from a company that to get access to your details for authentication purpose, who access your identity. Once you allow the company to access your details, they can use your identity information and you will be able to trace the purpose of accessing your information.
How Pulsehyip Service Enhance your Business?
To make ease of this Identity management work, Blockchain enters into these modules. Pulsehyip is the leading blockchain development company to provide a unique service for your business needs. We having 200+ professional blockchain developers to launch the best solution for your business.
Also, we providing services in various field with a unique outcome. We propel the best technology with certifications. Handover your stress to us and get the relief from our outputs.
Our Experts are here with 24/7 support system, drop your query and get more benefits from us.
About Sindhu
Bonjour! This is Sindhu. I am an avid and adept professional, anxious in learning about the recent trends in cryptocurrency and blockchain world. Currently, working as a tech advisor and blogger in Pulsehyip. With 5+ years of experience, I am engrossed in probing many more updates invading the digital crypto industry. Stick around to acquire all the latest blog updates in blockchain industry verticals.
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