Ontology Collaborates With The Block To Uncover The Decentralized Identity Industry

This article was first published on OntologyNetwork - Medium

Earlier this month, Ning Hu, CTO of Ontology, took part in a webinar panel debate on Decentralized Identity Solutions, alongside the publication of a research report in The Block.

In today’s world, it is becoming increasingly obvious that managing digital identity remains a huge challenge. Every day we hear about data breaches and hacking scandals. A typical internet user manages between 70–80 different usernames and passwords, while there are on average 30,000 websites hacked every day. On the flip side, according to Global Prison Trends 2020, 1.1 billion people in the world are unable to prove their identity, thus obstructing them from accessing vital healthcare, education, and financial resources.

The Block Webinar, “The State of Decentralized Identity Solutions”

In April 2021, Ning Hu, CTO of Ontology, spoke at a panel titled “The State of Decentralized Identity Solutions” in association with The Block, one of the leading research, analysis, and news brands in the digital asset space. Hu Ning was accompanied by experts in the field of digital identity, Daniel Buchner, Senior PM of Decentralized Identity at Microsoft, and Tobias Fox, Co-founder of Serto. The discussion delved into how digital identity applies to everything from financial services to upskilling workforces, and how blockchain infrastructure can be utilized to lay the trust framework for decentralized identity solutions.

Watch the panel discussion back here.

The Block Research Report, “An Introduction To Decentralized Identity Solutions”

In tandem with the panel discussion, The Block also released a research report titled “An Introduction to Decentralized Identity Solutions”. Read the full report here.

Key Findings

The report’s key findings include:

  • Blockchain-based decentralized identity solutions are challenging centralized identity management paradigms.
  • Identity issuers, holders, and verifiers could all benefit from the transfer of ID management processes onto distributed ledgers and blockchains.
  • While the space is still in ...

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OntologyNetwork - Medium

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