Securing User Identities With Blockchain Technology

The security world is searching for a replacement for passwords. Passwords are becoming irrelevant because they can be discovered and broken as computers gain processing power. In addition, stolen user identities are increasingly cheap and easy to come by. Any solution will require a shift in how personal information is managed and stored — and blockchain technology could just do the job.

Passwords and user identities are too often collected and stored in databases. Each company is responsible for maintaining that information securely, meaning that each of those databases can be breached. The thought of reducing the number of databases for threat actors to target seems counterproductive, but if that smaller number of databases is demonstrably more secure, there can be a positive shift. That’s exactly what proponents of blockchain-based security propose.

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