- IoTex head of cryptography has published the article on decentralized Identity (DID).
- He explained why DID for IoT will make intelligent machines the largest users of blockchain.
The company head of cryptography Xinxin Fan has published the article on why decentralized Identity (DID) for IoT will make intelligent machines the largest users of blockchain. More so, the article is called “Accelerating Adoption — What DIDs Add To The Blockchain Ecosystem.”
Note that DID is an identifier that allows valid digital identities of organizations, individuals, devices, or other entities. According to the article, these IDs can prevent fraud just by checking an identity without the need to access the underlying data.
In addition, the team stated that just by expanding interoperability without sacrificing security, the IDs could unlock all kinds of innovations in both enterprise and consumer use cases.
Additionally, Xinxin Fan said,
As part of my ongoing research, I’ve been focused on building a shared standard. This could be used in building the Identity of Things for the blockchain. As our community crafts a clear framework of standards, we will unleash the full potential of blockchain interoperability across people, platforms, and devices.
Expanding more, Fan cited a few examples of where people can use DIDs. It includes; DIDs and medical supply chain, DIDs and mobility, DIDs and DeFi for machines, and DIDs and insurance.