DIDs in a nutshell
In our context, Digital identifiers are an arbitrage way to leverage an already created profile to get secure access to a third-party application. Digital identities involve cryptography and are stored on a ledger.
Example: If you have a GitHub, Facebook or Google profile you are able to create an account with GitBook. You do not need to re-create a new profile nor do you need to create a new password. Creating or re-using passwords always comes with a new security risk.
As the example already shows the keepers (and owners) of your Digital Identity are usually the leading tech platforms. Which increasingly raises the concerns of privacy advocates, as these platforms are able to connect the dots of your logins.
Decentralized identifiers (DIDs) are trying to fix this by making the enduser the keepers and owners of their digital profiles by using decentralized ledger technology (DLT).
Hint: No private data will be ever stored on a public blockchain.
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