Blockchain Identity Management to grow at a CAGR 81.5% during 2021-2027

Blockchain identity management is a type of identity management tool that consists of a blockchain-based digital verification and authentication process that is performed by the user. Instead of storing and encrypting data in a central database, the blockchain identity management tool stores and encrypts data on the user's mobile devices. Blockchain technology, which uses cryptography to store and link data blocks across virtual networks, is becoming increasingly popular. Upon verification, every block of information contains a complete and accurate record of every transaction that can't be changed once it's been verified.

There are two main types of blockchain: public blockchains and private blockchains. In a public blockchain, computers are connected to the public internet, which allows any other computer connected to the same network to participate in the transaction. The private blockchain, on the other hand, allows only known enterprise devices to join the network, as opposed to the public blockchain. Private blockchain is more secure than public blockchain because it uses the participant's identity to confirm membership and to determine with whom the data is being shared.

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The key players of the market are IBM (US), AWS (US), Civic Technologies (US), KYC-Chain (Hong Kong), Bitfury (US), Evernym (US), Factom (US), Netki (US), ShoCard (US), UniquID (US), Microsoft (US), Oracle (US), Bitnation (Switzerland), Nodalblock (Spain), EdgeSecure (Airbitz, US), Blockverify (UK), Peer Ledger (Canada), Cambridge Blockchain (US), uPort (US), Originalmy (Brazil), Neuroware (Malaysia), Tradle (US), Existenceid (Australia), Coinfirm (Poland), and BTL Group (Canada). The stakeholders in the market include blockchain identity management technology providers, independent software vendors, consulting firms, system integrators, Value-added Resellers (VARs), and Information Technology (IT) agencies.

The Blockchain identity management Market report has been categorized as below

By Service Providers

Infrastructure Providers

Middleware Providers

Application Providers

By Organization Size

Large Enterprises

Small & Medium Enterprises (SMEs)

By Industry Vertical

BFSI

Government

Healthcare

Automotive & Transportation

Retail and E-commerce

Others

By Region

North America

Europe

Asia Pacific

Rest of the World

The years considered for the study are as follows:

Base year - 2020

Estimated year - 2021

Projected year – 2022

Forecast period - 2021 to 2027

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