Why Do We Need Digital Identities? | Blockchain Central

The video explores how digital identity can be managed using blockchain technology. It begins with a disclaimer and an introduction to digital identity, explaining its mapping to physical entities. The current federated identity management systems, like those by Facebook and Google, are discussed, highlighting their shortcomings such as lack of user control and security risks. The concept of self-sovereign identity is introduced as a solution, emphasizing user control and decentralization. The video concludes with potential applications and future possibilities of digital identities.

What is a digital identity primarily described as in the video?

• A virtual currency

• A digital object that maps to a physical entity

• A social media profile

• A physical object linked to a digital entity

What is a major drawback of federated identities as mentioned in the video?

• They are too expensive to maintain

• They are owned by the user

• They are prone to hacking and lack user ownership

• They are only used by government institutions

What is a self-sovereign identity?

• An identity owned by a third-party provider

• An identity owned and controlled by the user

• An identity that cannot be used for transactions

• An identity that is only used for social media

How does a user control their self-sovereign identity?

• By registering with multiple providers

• By holding private keys

• By using a password provided by a third-party

• By using a government-issued ID

What is the role of attestations in self-sovereign identity?

• They are used to delete identities

• They verify attributes of the identity

• They are only used for financial transactions

• They are used to create new identities

How can a lost self-sovereign identity be restored?

• By creating a new identity

• By using a backup password

• By contacting the government

• Through chosen nodes in the user's network

What is one potential application of self-sovereign identity mentioned in the video?

• Transferring ownership of digital assets

• Creating social media accounts

• Watching online videos

• Buying groceries