{"id":3853,"date":"2017-04-10T09:56:25","date_gmt":"2017-04-10T04:26:25","guid":{"rendered":"http:\/\/www.allerin.com\/blog\/?p=3853"},"modified":"2017-04-10T11:29:12","modified_gmt":"2017-04-10T05:59:12","slug":"blockchain-a-step-towards-itf","status":"publish","type":"post","link":"https:\/\/www.allerin.com\/blog\/blockchain-a-step-towards-itf\/","title":{"rendered":"Blockchain – a step towards ITF"},"content":{"rendered":"

\"\"<\/a><\/p>\n

How does blockchain aid in implementing ITF?<\/h1>\n

Blockchain acts as a significant component in implementing ITF. Blockchain is being developed constantly to make it more matured to meet all technical and business requirements of a market-ready ITF solution. Blockchain provides the necessary feasibility and a suitable environment that is required by a decentralized identity service. Blockchain platform identifies and addresses ITF\u2019s needs at varying levels. A blockchain platform is suitable for deploying limited-scale proof-of-concept. This method enables ITF to experiment with and explore decentralized identity services. Blockchain technology makes ITF scalable, deterministic and more efficient.<\/p>\n

<\/h6>\n

ITF includes a privacy design that takes a protective approach towards embedding privacy into decentralized identities. Users can choose attributes for their profile. Thus, an identity profile is created using a private key that securely remains in an identity wallet and the public key is stored immutably in an ITF. Using blockchain, ITF promotes a seamless transition of decentralized identity services on traditional domains and existing business models.<\/p>\n

<\/h6>\n

Let\u2019s take a look at the three advantages of ITF.<\/p>\n

\"\"<\/a><\/p>\n

1.\u00a0\u00a0\u00a0 Reduces Security Risk<\/h1>\n

ITF verifies and authenticates decentralized identities by checking validity of their credentials. This helps in minimizing the security risks as the proprietary depot that belongs to a central server does not need to be open for any kind of inbound request. Thus, ITF acts as the central point of authority while verifying, authorizing and authenticating credentials of decentralized identities. The traditional method included developing a protocol for third parties to provide identity information, which created vulnerabilities for the central server, as both authorized agents and hackers were able to access it.<\/p>\n

2.\u00a0\u00a0\u00a0 Enhances Privacy Measures<\/h1>\n

ITF helps in improving privacy standards of information as all the user information remains under control of that particular user. Earlier, this information was propagated on central repositories of many organizations. ITF enables effective implementation of decentralized identity services that can help in reducing the number of central repositories required. Utilization of ITF also enables secured communication between two identities using cryptographic techniques. These cryptographic techniques are also known as zero-knowledge proofs, which allow entities to convey any kind of message to another entity without revealing a user\u2019s private information other than authentication proof.<\/p>\n

3.\u00a0\u00a0\u00a0 Improves Cross-Domain Collaboration<\/h1>\n

ITF allows third parties to validate the user information against each hash record available on the ITF. This makes sharing information easier within a broader community as users are in charge of their data, and they determine when to share their private information. Thus, ITF facilitates lesser amount of privacy implications and enables secure access to services across different boundaries.<\/p>\n

<\/h6>\n

Thus, using blockchain, we can build an ITF platform for establishing and maintaining trust inherently.<\/p>\n","protected":false},"excerpt":{"rendered":"

How does blockchain aid in implementing ITF? Blockchain acts as a significant component in implementing ITF. Blockchain is being developed constantly to make it more matured to meet all technical…<\/p>\n","protected":false},"author":1,"featured_media":3948,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[301],"tags":[177],"class_list":["post-3853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","tag-blockchain"],"yoast_head":"\nBlockchain - a step towards ITF | IoT | Big Data | Analytics | Fintech |<\/title>\n<meta name=\"description\" content=\"The concept of blockchain has triggered several innovative advancements in Identity Access Management (IAM). 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