IOTA recommended in “German blockchain report” for innovative identity management technology

by Arthur · December 22, 2022

Germany’s blockchain industry can leverage IOTA’s identity solution to provide sovereign identities to its citizens.
Such a decentralized infrastructure will help businesses and organizations gain access to user identities in a secure environment.

The German Blockchain Report 2022 is just out, and it presents a detailed analysis of how blockchain technology is making a difference in several industry verticals in gaming, supply chain, banking, medicine and much more. Germany’s blockchain industry has continued to expand rapidly this year with one of the main focus areas being blockchain and Web 3.

Berlin has now become home to some of the best startups operating in this area. The German Blockchain Report 2022 mentions that in addition to cryptocurrencies, NFTs and smart contracts, Self-Overriding Identities (SSI) will serve as the essential building blocks for the exploration of new use cases.

Along with the Ethereum Foundation, the report also names the IOTA Foundation among the list of strong, diverse and network-based players to steer further growth of blockchain in the region. The report notes:

The robust ecosystem in the German capital, which creates important synergies between decision-makers, investors, startups and SMEs, provides the ideal framework for the blockchain community to flourish. Among them are important players such as the Ethereum Foundation, the IOTA Foundation and Ocean Protocol.

As we know, IOTA’s blockchain-based Digital Identity solution helps bring decentralized identity in a digital economy. Thus, Germany’s blockchain industry can take advantage of the advantages offered by IOTA in building a strong network for self-sovereign identities.

Using the IOTA Identity solution, they can also unify identity under a single protocol and thus offer seamless interaction across all forms of identities. Self-sovereign identities also make data sharing safer and easier. They can also spend money and time for businesses and public organizations.

IOTA’s digital identity solution

The beauty of IOTA’s digital identity is that it provides proof of ownership of physical products in digital forms. This helps to improve the trust factor considerably while reducing the chances of fraud.

In addition, the IOTA Identity solution offers “data protection and privacy by design” and complies with data management and privacy laws from around the world. Moreover, it provides a neutral and reliable protocol for identification without a single entity controlling everything as the IOTa blockchain network is completely public and permissionless.

Earlier this year, Tangle Labs – the platform behind IOTA’s digital identities – announced the launch of Identity Manager. According to Tangle Labs, IOTA’s Identity Manager will allow businesses and organizations to easily access IOTA’s identity protocols. This will allow them to access user identities in a completely decentralized environment.

This year in September, Tangle Labs launched the latest version of its open source Identity Manager Libraries with the goal of offering businesses easy access to IOTA’s development tools and thus building their decentralized identities on IOTA. Identity Manager from Tangle Labs will also make it easy for developers to manage their identities without technical challenges.