The Issue with Current Centralized Identity Management System
In our current society, many of the business models, internet identities, service platforms and systems operate in a centralized environment. It means that a single entity or authority has the control and ownership. This can be seen in various social media and e-commerce platforms where users do not have control over their identity record, which result in their private data and information to be leaked and misused.
A recent article based in early 2018 stating that personal information of as many as 87 million Facebook users have been improperly shared with data firm Cambridge Analytica.
An excerpt from the article:
“Our efforts to protect the information that our users have chosen to share using Facebook may be unsuccessful due to the actions of third parties, software bugs or other technical malfunctions, employee error or malfeasance, or other factors. In addition, third parties may attempt to fraudulently induce employees or users to disclose information in order to gain access to our data or our users’ data. If any of these events occur, our users’ information could be accessed or disclosed improperly.
Cited source from:
A centralized identity management system also encounters other issues such as:
· Repetitive registration/KYC
· Identity risk
- Repetitive registration/KYC
Our current personal data and information are not well protected and vulnerable to potential privacy breached. This is because many of the activities that we do, we have to identify ourselves such as registering for an online service, buying insurance, taking a loan or even going oversea. We are prone to doing multiple KYC and sharing of our information. This process has become repetitive.
2. Identity risk
Our information and data have been constantly shared with various business companies and online platforms so that we can access to the places or purchase products that we need. However, many of us did not realize that these actions put our identity at risk, potentially identity theft, breach of data, data leakage and misuse of information. This happen because E-commerce, social media and business companies have control of our personal data. Our private information is at risk of security breach in the hands of these centralized platforms and entities.
Rise of Self-sovereign identity
It shows that centralized identity management system has deficiencies. Self-sovereign identity allows individuals to have more control over their information and at the same time to be able to share minimum amount of information that the given party needs for identification. Usechain will be the first mirror identity project using blockchain technology to address the issue on centralized identity management
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