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Scope Of The Global Blockchain Identity Management Market

Technology has the power and potential to impact the industry like never before. There are a number of ways by which technology has shown its growth and has paved the way for inventive ideas that can make life easier and simpler. One such technology that we will be talking about today is Blockchain. This distributed ledger technology has created quite a spur in the market, from finance to food; every industry is now planning to explore the ways by which they can use this technology for the best of their business. One of the key areas where Blockchain is creating an impact is in the identity management market.

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Scope Of The Global Blockchain Identity Management Market

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  1. Scope Of The Global Blockchain Identity Management Market Technology has the ability to have a massive impact on the industry. Technology has advanced in a variety of ways, paving the way for innovative ideas that make life easier and simpler. Blockchain is one of the technologies we'll be discussing today. From finance to food, this distributed ledger technology has sparked a lot of interest in the market. Now, every industry is looking into how they can use it to their advantage. The identity management market is one of the key areas where Blockchain is gaining traction. We'll look at how Blockchain is changing the identity management business in this blog post.

  2. According to Verified Market Research, the global Blockchain identity management market is expected to grow from USD 75.97 million in 2018 to USD 6,357.4 million by 2026. Between 2019 and 2026, this shows a CAGR of 79.33%. These rising numbers indicate that more companies are looking to use Blockchain technology to manage their identities.

  3. Identity management using blockchain: Blockchain is a distributed ledger technology that stores all transactional data. This data is readily available, and the ledger is transparent, facilitating information exchange. The current identity management system we use is based on various government-issued or authorised official documents. Again, this system is insecure, and a switch to a more secure system is required. In this, blockchain is critical. This distributed ledger technology operates on a peer-to-peer basis, eliminating the need for a third-party intermediary. Cryptographically, all of the data on the DLT is encrypted. It ensures that the data is completely secure and unaffected by any threat or data breach.

  4. Why Blockchain? One can establish digital identities that are cryptographically encrypted with the aid of Blockchain identity management. It employs a decentralised approach, in which the user receives an identity that is not reliant on a third party. The following issues can be addressed by using a Blockchain identity management system:1. Security threats2. Transparency3. Better control4. Easing the business function5. Immutability6. Higher transaction speed

  5. These growing use cases point to an increase in the demand for Blockchain professionals who can assist companies in maximising the benefits of the technology.Where Next?Blockchain professionals are in high demand as a result of the growing demand for Blockchain technology; various line certification programmes will assist you in learning everything you need to know about Blockchain technology and its applications. The Blockchain Council offers the most comprehensive online Blockchain certification programme available. This addresses both the realistic and theoretical aspects of the case. If you, too, want to work as a Blockchain expert, now is the time to enrol in a Blockchain certification programme.

  6. Blockchain Council Certifications You can check out our certifications, and kick start your career in the Blockchain space today. • Certified Blockchain Expert • Certified Blockchain Developer • Certified Smart Contract Developer • Certified Solidity Developer • Certified Ethereum Developer

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