December 14, 2023
By Sharan Kaur Phillora
China has taken a significant leap in technological innovation with the introduction of the RealDID system, a blockchain-based platform designed to verify the identities of its 1.4 billion citizens.
Here’s what we know:
This initiative, led by the Ministry of Public Security in collaboration with the Blockchain-based Service Network (BSN), marks a major milestone, representing the world’s first national-level decentralized identity system. This advancement is set to revolutionize the way individuals interact with digital platforms, offering a new level of privacy and security.
The RealDID system enables users to anonymously register and log in to websites, utilizing decentralized identity addresses and private keys. This novel approach ensures that personal information is kept separate from business data and transactions, addressing concerns about privacy in the digital age.
This development is particularly relevant in the context of recent regulations imposed on China’s leading social media platforms. Platforms like WeChat, Sina Weibo, and Douyin now require content creators with substantial followings to publicly disclose their real names or the names of their financial backers.
The RealDID system is expected to provide a more streamlined and secure method for this real-name verification, thereby reinforcing trust in these services.
While the RealDID initiative promises enhanced security and privacy for digital identities, it has also raised concerns among data privacy advocates and sparked international dialogue. In the United States, for instance, a bipartisan bill was recently proposed to ban U.S. federal officials from using China-made blockchains.
This legislation aims to mitigate potential national security risks and safeguard private data from foreign adversaries. The introduction of RealDID thus highlights the delicate balance that must be struck between technological advancement and the protection of individual rights and privacy on a global scale.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.
