What You Need To Know About DIDs and Why They Are That Popular

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  • Are created and managed completely by the user (individual or organization) without depending on any third party
  • Allow the owner to securely prove control over them
  • Don’t contain any personal data or wallet information
  • DID 1: Online gaming sites
  • DID 2: For educational and training credentials such as a university degree, Project Management Certificate, and health and safety training certificate
  • DID 3: To hold different types of IDs like state ID and driver’s license
  • DID 4: Online shopping websites
  • DID 5: Crypto investment platforms and services
  • Allows organizations to verify information instantly without having to contact the issuing party, like a driver’s licensing organization or university for example, to ensure that IDs, certificates, or documents are valid. Traditional, manual verification processes take weeks to months which slow down recruitment and processing times while using a lot of financial and human resources. Imagine being able to instantly verify someone’s credentials in seconds by scanning a QR code or running it through a user-friendly credential verifier tool.
  • Enables issuing organizations to conveniently provide Verifiable Credentials to people and prevent fraud in a way that greatly reduces costs and increases efficiency.
  • Because the user has full control and ownership of their identity and credentials, they are able to prove their claims without depending on any party.
  • People can decide which information they want to reveal to specific parties, such as a government or employer.
  • No party can take away people’s ID once they are stored on their mobile digital identity wallets.
  • People can easily create and manage their decentralized identity with user-friendly platforms.

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