What is the benefit of using blockchain for identity verification? 🔊
The benefit of using blockchain for identity verification is enhanced security and trust. Blockchain technology offers a decentralized and tamper-resistant ledger that securely records identities and transactions. This ensures that personal information is stored in a way that is both transparent and cryptographically secure, reducing the risk of identity theft and fraud. With blockchain, users can verify their identities without relying on central authorities, simplifying processes such as online authentication and access to services while maintaining privacy, data integrity, and user consent.
Equestions.com Team – Verified by subject-matter experts