Description: Self-sovereign identity is an emerging concept in the Web3 space that refers to a digital identity that is owned and controlled by the individual, rather than by a centralized authority. This approach allows users to manage their own personal information and decide how, when, and with whom to share it. Unlike traditional identity systems, where data is stored and controlled by entities such as governments or corporations, self-sovereign identity empowers individuals, granting them greater control over their privacy and security. Key features of this model include decentralization, interoperability, and data portability. Self-sovereign identity relies on technologies like blockchain, which ensure the immutability and verification of information without the need for intermediaries. This approach not only promotes privacy but also facilitates digital inclusion, allowing people without access to traditional banking or identification services to fully participate in the digital economy. In an increasingly interconnected world, self-sovereign identity presents a viable solution to current challenges related to personal data management and trust in digital platforms.
