Analyzing Decentralized Identity Management Based on Distributed Ledger Technology
Identity is one of the most fundamental aspects of our daily lives. From depositing money into a bank account, to attending a friend’s party, almost all of our activities go through some kind of identity relation. Current systems for managing this vast volume of identity “transactions” are mostly central, causing them to be targets for several kinds of attacks: (1) The identity data can be stolen, (2) the central entity can be subject to coercion, and (3) the user data can be used against the will of the user. As an alternative, the control of identity can be pushed to the users and the real owners of identities, decentralizing the whole identity management along the way. Distributed Ledger Technology (DLT) provides a possible solution to achieve this goal, since it already has several properties that fit nicely with decentralized identity management. We plan to provide a comprehensive analysis of designing DLT-based identity management systems.