As more of our lives move online, there is a pressing need for more effective digital identity management tools. Anyone who's ever had their data or their personal accounts compromised knows firsthand that identity management isn't as easy as it should be.
Fortunately, new technologies have opened up new avenues for establishing secure, transparent digital credentials. Blockchain is the most prominent example of this — beyond their use in cryptocurrency, blockchain platforms such as Ethereum, Hyperledger and MultiChain have the potential to be game-changers in the way we control our online identities.
An identity ecosystem is a concept used by the government and other organizations to refer to the way identities are stored, validated and managed online. It is analogous to the financial ecosystem in that, no matter where you are, you can access your account across various platforms and systems. An effective identity ecosystem will have several characteristics:
It will be secure and self-sovereign, meaning it is de-centralized and does not store data in a single location.
The block is broadcasted to every party in the network.
It will be fast and easy to use and cost-effective to maintain.
Better digital identities mean less risk of fraud and identity theft. They provide peace of mind for both individuals and service providers. Best of all, they can reduce costs and compliance issues, prevent waste and make the online experience more comfortable and accessible for everyone.
How does blockchain help make digital credentials safer? As a secure, decentralized platform, blockchain is ideal for storing identity credentials. We cover some of the technical aspects of how distributed ledgers work on our main Blockchain page — the primary takeaway is that, as a record of secure transactions, blockchain gives digital IDs a level of integrity users can trust.
While the technology is still in its nascent stages, many major businesses have seen the potential in blockchain-based digital credentials and are currently investing in app and program design that will permit wider adoption.
Blockchain-based custom ID apps are ideal for financial services, higher education, insurance and other industries. A well-designed product will put effective identity management tools at users' fingertips, making it easy to securely access services online.
Wve Labs can help you design a custom or student ID app using Ethereum or other blockchain technologies. We can provide research, UI/UX design, development, wireframing and more in iOS, Android and web-based platforms. We'll work with you to provide end-to-end service for your project, using sophisticated tools and tech to bring your idea to life.
Wve Labs is based in Los Angeles but serves clients around the world. We were founded in 2015, and we have quickly emerged as a leading partner to ambitious startups and established businesses alike. We offer fast turnaround times and affordable pricing on projects of any size.
Let us help you design a digital credentials app for your organization. Get in touch with us via our online contact form — one of our team members would be happy to arrange a consultation at your convenience.