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**IOTA Leads the Charge to Build Digital Identity and Tokenization Onchain**
As a pioneer in the field of distributed ledger technology (DLT), IOTA has long been at the forefront of innovation. In recent times, it has become increasingly clear that this innovative blockchain-based project is not only about building a decentralized network but also about empowering individuals with digital identities.
In this article, we will be exploring how IOTA is taking the lead in building digital identity and tokenization onchain.
What does it mean to build digital identity?
The term ‘digital identity’ refers to the online representation of an individual’s personal data, including their name, age, location, email address, phone number, etc. In today’s interconnected world where we share more information than ever before, having a secure and trusted digital footprint has become crucial.
With blockchain technology, it is now possible to create decentralized identity management systems that allow users to maintain control over their personal data while ensuring that these records are immutable and resistant to tampering or falsification. This concept has far-reaching implications for various sectors such as healthcare, finance, social media, and beyond.
Tokenization onchain – an innovative solution
In order to make digital identities a reality, IOTA is at the forefront of tokenizing this information in real-time on-chain. What does that mean? It means that instead of storing sensitive personal data off-chain or centrally, all information will be linked to unique tokens, which are then stored and processed directly within the blockchain.
In simple terms, when we say ‘tokenization’, it means creating a digital representation (the token) that is tied to the actual data. We call this concept tokenization.
Source: www.crypto-news-flash.com
