Digital Identity

The digital identity should represent a legal or real existing person, so that this person can identify himself for the use of services.

For this purpose, the driving license, identity card, voting rights or passport can be stored on the Blockchain. This makes it possible to give access to physical objects (such as vehicles, real estate, hotel rooms) in the real world without third parties. In addition, credit approvals, services of government agencies or other complicated contracts can be handled digitally, which normally require a direct contact for verification. [1] On the basis of digital identity, all personal, financial and health data can also be stored and made accessible for the respective processes.

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Thus, more trust, data sovereignty and security can be created digitally through decentralized identity verification. Currently, digital identity is already being used for mobile payments such as Apple Pay.