NFTs enabled federated digital identity data representation and management

Abstract

Abstract Digital identity data management is a significant challenge for businesses and individuals who wish to interact online in the increasingly digital economy, government, and society. Most recently, non-fungible tokens (NFTs) have been proposed as a solution to represent digital identities and underlying data. NFTs are stored on a blockchain based data management system and seem useful for representing digital identity data stored in independent data systems. The idea of using NFTs to represent digital identities and their associated data is promising, but it also raises significant concerns regarding data privacy and compliance. This article examines the NFT-enabled digital identity data representation and management, highlighting associated privacy risks and mitigation strategies. This study employs a qualitative desk research approach, reviewing industry reports, academic papers, and policy documents to analyze trends, technological advancements, and regulatory considerations. It concludes with recommendations for leveraging programmable privacy to address these challenges, providing valuable insights for researchers and practitioners in privacy-preserving digital identity and NFT-enabled identity management.

Keywords

• Digital identity
• Data management
• Data sharing
• Non-fungible tokens
• Blockchain
• Privacy-by-design