In the digital world today, some credible identity system that is universally consumable and can be trusted by counter parties across industries are lacking. Also, all the crowd sourcing based solutions now lack the credibility and verification that is needed to address regulatory requirements.
By getting all the industries, it has been a big challenge to get all the governments and consumers across hundreds of jurisdictions to agree on a framework. The problem has been part technical and part political. Although, a great deal has already been written on challenges in creating universal identity.
• Centralized systems are unreliable in long term due security and political risks
• Owning identity itself is hard for individuals
• Verifying real identities requires mass consensus and adoption
• Limitations of mass adoption by different stakeholders.
• Identities need to constantly remain validated and updated.
As the digital technologies are rapidly adopted with the smartphone penetrations slated to reach 4 billion by 2022 and new technologies like IOT, blockchain, AR/VR and digital currencies getting ready for mainstream adoption, the need for cybersecurity has never been greater. The Chairman of IBM calls it the “greatest threat to every profession, every industry, every company in the world”. Cisco cites a report saying it will be more profitable than the global trade of all major illegal drugs combined.
The Centralized Systems Are Unreliable In The Long Term
Global identity trust fabric needs to be a decentralized system that cannot be attacked from inside or outside. A central store for identity data exposes it to mass breaches and denial of service attacks. Any exposure to such a system would render every service in the world vulnerable. identity systems also control authentication and authorization of third party services including financial transactions and therefore attract the most hacking.
Using Distributed Database To Decentralize Contact
Directories
For decentralizing the directories, it is important to use record chaining using hashes to manage conflicts across devices while decentralizing the control. Further lazy consensus may be used to support offline transactions.
Consensus Protocol
A consensus protocol has three key properties based upon which its applicability and efficacy can be determined. These include Safety, Liveness, and Fault Tolerance.
DIRO solves multiple issues like theft, corruption, tax evasion or fraud by having accountability across the ecosystem through reliable identities. Further Information is provided in the Whitepaper.
SUMMARY & CONCLUSION
This platform scales trust with blockchain as the Identity and security for establishing trust are critical building blocks on the blockchain. The Contact directories or social graphs are a central component in decentralizing the identity and access management.
More Information About The Decentralized Identity And Access Management (dIAM) Are Made Available In The Following:
Website: http://www.diro.io/
Whitepaper: https://docs.wixstatic.com/ugd/fae167_26798553a540495d9c8189932e9c088f.pdf
Announcement Thread : https://bitcointalk.org/index.php?topic=3266144.msg34032664#msg34032664
Facebook : https://www.facebook.com/DiroBlockchain
Twitter : https://twitter.com/DiroLabs
Authored by: Cryptorocket84
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