Taisys Technologies Co., Ltd. (20240380619). METHOD AND SYSTEM FOR DECENTRALIZED IDENTITY GENERATION simplified abstract
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METHOD AND SYSTEM FOR DECENTRALIZED IDENTITY GENERATION
Organization Name
Inventor(s)
METHOD AND SYSTEM FOR DECENTRALIZED IDENTITY GENERATION - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240380619 titled 'METHOD AND SYSTEM FOR DECENTRALIZED IDENTITY GENERATION
The present invention involves a method for decentralized identity generation and a system for implementing it.
- Creating a Merkle tree with a Merkle root and multiple Merkle proofs.
- Personalizing the Merkle proof into the SIM (Subscriber Identity Module).
- Uploading the Merkle root to a smart contract on a distributed ledger technology platform.
- Forming a digital wallet in the SIM accessed by a key pair (private and public keys).
- Providing the personalized Merkle proof to the smart contract.
- Issuing an identity-based token to the digital wallet based on the validity of the personalized Merkle proof.
Potential Applications: - Secure digital identity management. - Decentralized authentication systems. - Blockchain-based identity verification.
Problems Solved: - Eliminates centralized identity management risks. - Enhances security and privacy of personal data. - Streamlines identity verification processes.
Benefits: - Increased data security. - Improved user privacy. - Efficient and reliable identity verification.
Commercial Applications: Title: Decentralized Identity Management System This technology can be used in industries such as finance, healthcare, and government for secure and reliable identity verification processes. It can also be integrated into online platforms for user authentication and access control.
Questions about Decentralized Identity Generation: 1. How does decentralized identity generation improve data security? Decentralized identity generation enhances data security by eliminating single points of failure and reducing the risk of data breaches.
2. What are the advantages of using a Merkle tree in identity management? A Merkle tree provides a secure and efficient way to store and verify large amounts of data, making it ideal for identity management systems.
Original Abstract Submitted
the present invention provides a method for decentralized identity generation and a system thereof. the method includes the following steps: creating a merkle tree having a merkle root and a plurality of merkle proofs; personalizing the merkle proof into the sim; uploading the merkle root of the merkle tree to a smart contract of a distributed ledger technology (dlt) platform; forming a digital wallet in a subscriber identity module (sim), wherein the digital wallet is accessed by a key pair that consists of a private key and a public key; providing the personalized merkle proof of the sim to the smart contract of the dlt platform; and issuing an identity-based token to the digital wallet formed in the sim based on the validity of the personalized merkle proof.
