Blockchain's Transformative Potential in Securing Digital Identities and Personal Data
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This review paper explores the transformative potential of blockchain technology in securing digital identities and personal data. It examines various blockchain applications, including identity verification, self-sovereign identity, and decentralized authentication mechanisms. Despite scalability issues, interoperability concerns, and regulatory hurdles, ongoing developments promise to overcome these obstacles. Future directions in blockchain technology include scalability solutions, interoperability standards, and privacy-enhancing technologies. Additionally, integration with AI and machine learning presents opportunities for enhancing identity verification processes. Collaboration between industry stakeholders and policymakers is crucial for shaping regulatory frameworks that promote innovation while safeguarding privacy rights. Overall, blockchain technology offers a decentralized and transparent approach to digital identity management and personal data security, with significant implications for empowering individuals and enhancing trust in the digital ecosystem.
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