An Introduction to Decentralized Identity Solutions

You don’t need to look very far to realize that managing digital identity remains a challenge in today’s society. Billions of data records are compromised in hacking scandals and data breaches. The average internet user manages about 70-80 separate usernames and passwords. Phishing techniques frequently trick us into revealing IDs and passwords. Identity theft results in an estimated $17 billion of losses per year. And the list goes on. 

These are the issues plaguing individuals who possess digital identities. An estimated 1.1 billion people in the world are unable to prove their identity thus obstructing them from accessing vital healthcare, education, and financial resources.