You should care about decentralized identity in the wake of COVID-19 By Cointelegraph

You should care about decentralized identity in the wake of

You should care about decentralized identity in the wake of COVID-19

To navigate well in a digital world, we must be able to easily and securely establish our digital identity. Traditionally, a username, password and some trivial arcana like our first pet’s name have been key pieces of information held by institutions to establish our digital identity. Unfortunately, this system has come at a high cost.

Trusting third parties to securely hold our personal data is a risky — and often losing — proposition. The number of hacks that have resulted in stolen personal data is staggering. In the top 15 data breaches, the personal data of 3.5 billion people have been stolen. And once our personal information is out, we cannot take it back. It becomes susceptible to use by nefarious actors for damaging purposes — an all too familiar scenario.

Jonathan Johnson is the CEO of Overstock (NASDAQ:) and the president of Medici Ventures.

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