Decentralized identity can bring the analog world into the digital world

The requirement is that networked devices require dispersed ledgers, trustworthy, technology-based digital identity solutions. It’s an important requirement for the Internet of Things (IoT). In the machine business, devices have to have the ability to comprehend and communicate with one another; Powerful identity management alternatives are the key to successful data and process safety. But what about the myriad of comparable “things” around us? Surely they also can benefit from the development of digital identities.

Imagine this: you’ve just returned from a grocery store or a walk in the park with your dog once you suddenly discover that the family ring is a bit loose around your finger. You retrace your steps, scan the floor, searching for gutters and additives, but you return empty-handed. So many facets of our everyday life are relocated online and precious things like passwords, PIN codes and login certificates are securely stored in appropriate security solutions. You can access these at any time and manage them centrally. Why can’t you have the same ring to your household ring or other similar valuables?

In comparison to your email password, your ring now only exists in the analog world. You can label it with a monitoring device connected to a phone, such as Apple’s AirTag, but this introduces privacy and security problems, perhaps even more jewelry. More importantly, we have a reasonable number of firearms that are similar, and it is inconvenient to label each of them using a tracker for $40 each. It’s time to discuss similar digital identities and eventually invite our valuable offline resources into our ever-growing virtual world.

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What is a decentralized digital identity?

Decentralized identity or DID describes some digital identification number for something which exists in the bodily world. This digital identifier is set in an immutable distributed ledger and has a comprehensive description of the attributes, ownership and skills. In practice, this means that you’ve got reliable evidence that confirms you’re the owner of your missing family ring. It shows the ring precisely and makes it immediately identifiable. With your login you can prove that you’re the owner; A miniaturized QR or barcode – or another scannable identifier – that is applied to the thing or laser beamed, is adequate. Depending on the post, a digital card with added functions can also be possible.

Compared into a simple tag or other monitoring device, digital identification has many other important benefits. It is stored securely because it is supported by Distributed Ledger Technology (DLT) and can establish ownership without going directly to the owner. If you do not need to publish your personal data in the ledger – a intelligent choice at all costs – you can make your own confirmed digital identity and connect similar components to it. In your missing ring case, you have evidence that you have the ring and can also use a pseudonym to make it more challenging for undesirable third parties to locate your valuables.

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Conspicuous ownership of invisible value

Similar things have various sorts of value – financial, psychological, real – and at any time and for any reason can bring unwanted access and possible theft from bad men. Setting up a strong DLT-based digital identification system for precious physical items has the added advantage of preventing theft, as confirming the source of the stolen thing in the general ledger automatically negates the option of resale.

To further deter takeover attempts, you can create various verifiable logins which are associated with your digital identity. You also decide who you talk about this sensitive information – if applicable. With selective disclosure, you can reliably identify your duplicate possession without revealing more information than necessary. For instance, a public ledger entry could list you as the owner of a blue, floral-patterned white porcelain vase 20.5 inches tall and weighing 14.8 lbs.

In another credential, you can refer to the vase as Qianlong’s – a multi-million dollar collectible. This information does not need to be people, but you can share it with prospective buyers should you part with your prized collection. DLT-powered digital identity gives you total control over how much information you publish and how you split it up to meet your personal property, identity and safety requirements.

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Identity and authentication to a global level

Cross-stage communication remains a challenge in the digital area, even more so on the analog side. Verifying the identity and possession of a product across country and language barriers can be a lengthy, slow, and costly process that involves multiple steps and the professional services of certified professionals. In the the event of especially valuable items or property, notaries, translators, independent experts and even consulates and embassies are included in the examination. A unified digital identity system which can replace lengthy identification and acceptance chains using an easy DLT solution that immediately confirms ownership and properties of a similar thing anywhere in the world.

However, digital identities aren’t only helpful for cross-border transactions. Today’s supply chains stretch across the world and tracing product ingredients and components across continents is a tedious task which, despite all odds, stays the same. The cargo tracking is usually done manually and on paper. The likelihood of human error is extremely high and mistakes will continue and multiply during the lifetime of the broadcast. An immutable digital identity can accelerate and automate several logistics procedures. Special items that need special handling, such as temperature control or movement stabilization, can be combined with sensors that track their shipping requirements. Ultimately, the items reach their destination using an immutable record of the shipping quality and security.

Such solutions aren’t restricted to the logistics business. The world is on the threshold of the post-COVID-19 age and the guaranteed return to global travel. Many people will take to the sky seeking fresh, exciting destinations, but occasionally our luggage simply won’t go with you. According into pre-pandemic statistics, airlines globally lost around 25 million pieces of luggage each year. It has probably occurred to you also, and you know firsthand how debilitating it is to track down and get your lost luggage back. Combine your luggage with a DID and you’ll see it immediately – no more hunting for a black hard case among tens of thousands. Airlines can also indicate their bags at check using a DLT-compatible detector that warns luggage handlers acoustically or if they put your luggage on the wrong machine.

A digital afterlife for the such as

Something similar is missing or misplaced – that’s their character. Whether in production, logistics or individual items, such events tend to be costly and stressful. In our increasingly digitized everyday life, there’s a risk that our analog resources will be permanently switched off. Instead of leaving them behind, we can link them to a digital identity that provides them the digital afterlife they deserve without invading their character.

DID doesn’t demand digitization of analog items or expensive sensors or high tech tags so as to function correctly. Instead, it provides an inexpensive, dependable and flexible means to get offline articles from the digital blind spot.