RealDID: Pioneering Anonymous Authentication
China’s Blockchain-based Service Network (BSN) is set to introduce RealDID, a groundbreaking initiative led by the Ministry of Public Security, for its 1.4 billion citizens. The scheme aims to establish the world’s first national-level decentralised identity system, impacting the identity verification landscape.
Anonymity and Security Redefined
RealDID revolutionises user authentication by allowing individuals to register and log in anonymously using Decentralised Identity (DID) addresses and private keys. This innovative approach ensures the detachment of business data and transactions from personal information, addressing privacy and security concerns in identity verification.
Social Media Mandate Boosts RealDID
China’s major social media platforms, including WeChat, Sina Weibo, Douyin, Kuaishou, Bilibili, and Xiaohongshu, have recently mandated real-name disclosure for content creators. RealDID is poised to enhance credibility and public supervision over online content, aligning with the platforms’ efforts.
BSN’s Global Influence
BSN China, in collaboration with tech giants China Mobile and China UnionPay, oversees domestic operations. Simultaneously, BSN Global operates independently, managing international operations with its security measures. This dual structure positions BSN as a significant player in the global blockchain landscape.
World’s First National-Level Decentralised Identity
The implementation of RealDID signifies a monumental achievement, establishing the first national-level real-name decentralised identity system globally. This milestone reinforces China’s position as a trailblazer in blockchain technology and identity verification.
US-China Dynamics in Blockchain
Amidst global geopolitical tensions, US lawmakers aim to restrict federal officials from engaging with China-based blockchain firms. Interestingly, China’s Institute of Forensic Science, under the Ministry of Public Security, has been removed from the US trade sanctions list, reflecting evolving dynamics in the blockchain sector.
RealDID’s Impact on Identity Verification
RealDID’s integration into China’s BSN marks a transformative leap in identity verification. By addressing privacy concerns and enhancing authentication processes, RealDID not only aligns with the evolving landscape of online interactions but also positions China as a significant influencer in the global blockchain arena. This initiative could set a precedent for decentralised identity systems worldwide, shaping the future of digital authentication.