Created by China’s Ministry of Public Security, RealDID leverages the Blockchain-based Service Network (BSN) to offer users a decentralised method for managing identity. Unlike traditional identity platforms that store sensitive user data in centralised databases, RealDID issues each user a unique blockchain-based identifier linked to a cryptographic key pair. The private key remains with the user, while the public key is used for verification during logins, sign-ups, or identity checks. This design ensures that users can authenticate their identity without exposing personal details such as their name, national ID, or mobile number. RealDID’s privacy-centric model allows individuals to satisfy Know Your Customer (KYC) requirements, particularly for financial platforms in Hong Kong, without sacrificing data security or anonymity.
Source: www.cointrust.com