Blockchain technology is disrupting society by enabling disintermediated digital platforms
The need for blockchain based identity management is particularly noticeable, we have faced identity management challenges for example security, privacy, and usability since the dawn of the Internet.
Blockchain technology may offer a way to address this problem by delivering a secure solution without the need for a trusted, central authority. It can be used for creating an identity on the blockchain, making it easier to manage for individuals, giving them greater control over who has their personal information and how they access it.
Blockchain is a decentralized and public ledger, which has introduced tremendous changes
during last few years with applicability on nancial use cases (e.g. remittance) and non-
nancial use cases (e.g. documents).
Blockchain-based systems provide the possibility for their users to insert their data in this distributed ledger. Users can trust the blockchain as it is leveraging consensus mechanisms to validate and gather the transactions in blocks.
Along with distributed ledger, blockchain is also considered as an open ledger where online
transactions are recorded and users can connect, send and verify their transactions. In
other words, it is a digitized system in order to account the records. These records are
set of mathematical rules which are used to stop the illegitimate intrusion.
In order to include the data into the blockchain, users and nodes, which obtain an
authorize-able address from blockchain, need to set up and communicate with smart
contracts to send and retrieve data to/from blockchain.
The use of a Blockchain to secure the IoT would mean that all devices and users
of those devices would use public key cryptography that would substitute default
Instead, each user would have his/her own private key that would be essential for communicating with any device and the private key would be known only to the user, and hence not be easily hackable. Also, only the manufacturer will be able to install rmware on a device by signing the digital content using
his private key.
The device will not run code coming from an unknown source. The identity/public key pairs will be stored on the Blockchain to enable a device to lookup when any login request/ digital content is triggered.