Nevertheless, Mr. Kuppinger believes that blockchain technology can help solve the identity problem of digital identity. What’s more, in addition to verification, authentication, authorization, auditing and the provision of privacy, the blockchain has even more possibilities and can thus expand the existing concept of identity. Users can be linked to transactions or even to assets, a possibility that exists thanks to DID. With the help of Smart Contracts, user rights can be transparently automated and the blockchain technology provides possibilities for pseudonymity and anonymity.
Mr. Kuppinger concluded the keynote speech with a presentation of the success factors and challenges that the blockchain technology has to master. The most important thing was a comprehensive acceptance of the technology. He admitted that this was of course a “chicken and egg problem”, but such dilemmas are not unusual for new ideas. Even social networks were only able to show their advantages over Web 1.0 with a certain number of users.
Blockchains need the Bitcoin revolution
There were several other interesting lectures and workshops about the Bitcoin revolution by onlinebetrug, but it would be beyond the scope of this article to go into them now. Some of the presentations can be viewed on Bitcoin revolution Youtube.
In the breaks between the presentations or at dinner, other visitors to the conference presented their opinions on blockchain technology. It was noticeable that representatives of companies in the ID sector were interested, but not always enthusiastic. The immutability of a blockchain is, in their opinion, not necessarily something that should be used for every aspect of digital identity.
“The “right to forget” and “right to delete” are things that are important but incompatible with a public blockchain. In cases where a private blockchain is used, mutability could be maintained. However, at a certain degree of centralization, the question arises whether a block chain is still worthwhile at all.
One notices that a community has formed around this Bitcoin loophole
Many are present once again, have been together in this Bitcoin loophole by you and have taken up conversations in discussions with the previous year. Nevertheless, they were welcomed as “newcomers” and quickly got in touch with Bitcoin loophole each other.
The European Identity Conference, as the name implies, is not primarily a blockchain conference. Accordingly, Blockchain was one of the topics discussed. Besides this, Self-Sovereign Identity, Microservices or Customer Identity Access Management were coveted topics. Accordingly, it was very interesting to see how people outside the blockchain scene think about this technology.
In connection with the lack of acceptance, the demand for comprehensible price models should certainly be mentioned: Given the current volatility, it cannot be assumed, for example, that a user will constantly pay different prices for an infrastructure for digital identity. However, the existing volatility will only decrease with increasing acceptance. In addition to finding a sensible governance solution, the CEO of KuppingerCole mentioned the interaction with the regulatory framework as one of the most important challenges. Especially in the context of the DGSVO, this is a great challenge for a blockchain solution as a universal identity.
Kuppinger is confident, however, that the blockchain can help with such a digital, decentralized identity, at least when the critical mass is reached. In conclusion, he therefore said:
In this respect I would like to thank the organizers and look forward to next year!