The 5P’s of a Self-Sovereign Identity
Increasingly, big data is invading consumers’ lives. It affects consumers’ privacy as the web has become such a centralised platform. When you have centralised organisations collecting so much consumer data and using it to offer personalised advertising to their users, it causes problems. As Jonathan Taplin discussed in his book Move Fast and Break Things, organisations that have access to so much data and use it to steer consumer behaviour could directly undermine our democracy. These centralised organisations do not forget or forgive. Since actions (i.e. data) speak louder than words, it is possible that data are defining human beings.
A Self-Sovereign Identity
A solution to these problems might be the incorporation of a self-sovereign identity; an identity that is owned and controlled by the person or the device that created it. To develop a self-sovereign identity, we need to look differently at identity and in the book Blockchain: Transforming Your Business and Our World, we discussed at length how we could develop such a self-sovereign identity. In a nutshell, it means that not only humans have an identity, but also organisations and even things have an identity.
Identity consists of many different attributes, which are constantly changing and evolving in terms of priority and durability. Some attributes…
