4 blockchain companies working on secure digital identity solutions

There are many blockchain startups working on solving the digital identity problem. It is necessary to create a secure environment for personal information. With the frequent occurrence of data breaches, there is a need to create better solutions. Some of these companies have achieved amazing growth.

Blockchain-based digital identity solutions

Many people associate blockchain technology with the financial industry. While this industry is certainly the biggest beneficiary of distributed ledgers, blockchain technology can also be used in a much wider range of areas. With the increasing focus on creating digital identities, blockchain technology has become extremely valuable to governments and consumers around the world.

In fact, there are already some companies working on this. Blockstack Labs is the most famous company in this field. Formerly known as OneName, they are also the first company to provide blockchain identity solutions. So far, the number of users who have registered their identities has exceeded 50,000, and it is expected to grow more next year.

Evernym is another digital identity company, albeit one that takes a different approach. The team has moved away from open blockchain standards to a permissioned solution, but still maintains a public blockchain. If all goes according to plan, the company will release its public demo on September 29, 2016. It will be worth the wait.

Managing online identities on a blockchain is a completely different matter. KYC-Chain uses blockchain and smart contract technology to provide this service. Users are able to open their accounts online and have private keys to access their encrypted data. Moreover, they can decide which information is visible to whom.

UniquID is probably the most interesting of the four companies. By providing a wallet service, users get a private key to access their data. For additional verification, users can use biometric authentication technology. Moreover, the project is developing towards full IoT compatibility.