We have entered the era of global blockchain adoption, as Microsoft launches a beta version of its identity project on the bitcoin blockchain. The tech giant had announced a digital identity project in May, which will enable individuals to manage their own identity, without recourse to a centralised authority. This concept is known as self-sovereign identity.
Self-sovereign identity allows individuals to store their identity information on devices owned and controlled by the individual or group, without relinquishing control to a third party to validate or manage their data. The self-sovereign identity method is beneficial as we approach a stage of decentralised internet usage, with the web 3.0 at the corner. The calls for decentralised apps has also increased due to several privacy breaches that the current centralised internet platform has unveiled.
