Security News > 2023 > April > Ping Identity launches decentralized identity management

With the world moving toward password-free and low-friction user verification systems, identity access management provider PingIdentity has joined the raft of cybersecurity vendors embracing decentralized identity management.

Enter decentralized identity solutions: instead of identity verification being handled by each enterprise issuing a credential, identity is distributed across a network.

In a 2022 report, Gartner noted that the common IAM paradigm in which a user has to assert their real-world identity with every new service provider "Is not scalable given the pace of digitization. Portable digital identity solutions will be required to support both current and evolving use cases in the long term."

The decentralized identity solution is a portable, or "BYOI" model, where "a user's identity data is not typically held by a centralized third party, but instead stored locally in a user's digital identity wallet and managed using underlying ledger [blockchain] infrastructure," Gartner says.

A form of self-sovereign identity - or SSI - decentralized identity lets the user manage their own identity by letting them store credentials from multiple sources in a digital wallet.

PingIdentity is one of the market-share leaders in the crowded identity management marketplace, or identity as a service ecosystem, comprising a very long tail of providers that include Microsoft, Okta, ForgeRock, OpenID and many more.

News URL

https://www.techrepublic.com/article/pingidentity-launches-decentralized-identity-management/