What is Blockchain Identity Verification and Its Business Benefits?

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Using blockchain technology, blockchain identity management enables users to manage and authenticate their digital identities in a decentralized and secure manner. In traditional identity management systems, centralized databases are controlled by third-party entities including government agencies, financial institutions, and enterprises. As opposed to traditional identity management, blockchain for identity management gives individuals greater control over their personal information.
Benefits of Blockchain Identity Verification

Here are some business benefits of blockchain identity verifications for Blockchain users,

• Immigration
• Bank Loans
• KYC Verification
• Health Records
• Ownership/Insurance