- Research on Decentralized Identity
- Literature Review on Existing Work
- Project Plan & Website Development
Most online business use centralized databases provided by companies like Google, Facebook, etc. to store customers' sensitive personal information. This leads users to put the security of their personal data at stake to redeem the services offered by these businesses.
This data on centralized databases though encrypted and secured, is still largely susceptible to data breaches in recent times, as hackers have to only get past one layer of security. Thus, millions of profiles have been subjected to identity theft, as people feel that they do not have control over their own identity.
This project aims to deliver an improved alternative to existing digital identity validation mechanisms. This alternate solution will leverage blockchain to create decentralized (not relying on centralized databases for storage of data identities for people, thereby handing them absolute control over their digital identities and eliminating dependencies on centralized authorities.
The decentralized identity solution can be applied to many different industrial domains, as discussed in the background. The ultimate goal, after the blockchain platform is set up, will be to deliver an application to make the identity verification process quicker and more efficient. Users will be able to exercise control over the extent to which they wish to share their personal details and thus, oversharing of data will be avoided.
Identify an application area which would implement the decentralized identity platform
Define Identity of an individual, based on personal data and standard for data collection and storage
Create a custom tailor-made blockhain to solve the purpose of storing users' proof of identity
Creating a hybrid web application which will allow the users to interact with the decentralized identity platform