Setting the Stage for Universal Decentralized Identity
                     ANONYBIT  
PRESENTING
. .
SETTING THE STAGE FOR  
UNIVERSAL 
DECENTRALIZED  IDENTITY
1
YEAR AFTER YEAR, THE STEADY GROWTH OF
CYBERCRIME HAS STEADILY PUSHED DIGITAL 
SECURITY  EXPERTS TO VENTURE INTO NEW 
TERRITORY WHEN IT
COMES TO DEVELOPING NEW INFRASTRUCTURES 
THAT  CAN TRULY SAFEGUARD PERSONAL 
IDENTIFIABLE
INFORMATION (PII). THESE EFFORTS HAVE ONLY
BECOME MORE URGENT, W ITH 71.1 MILLION PEOP
LE  FALLING VICTIM TO MALICIOUS CYBERCRIME 
SETTING THE EVERYSINGLE YEAR. AFTER ALL, THE DETRIMENT OF 
FALLIBLE
 STAGE FOR  SECURITY SYSTEMS ULTIMATELY FALLS BACK ON 
USERS,  AS THE AVERAGE INDIVIDUAL ENDURES 
UNIVERSAL $4,476 IN
ANNUAL LOSSES FROM THESE CYBERATTACKS.
DECENTRALIZE THANKFULLY, RECENT DEVELOPMENTS HAVE LED TO 
THE  INCREASINGLY POPULAR OPINION THAT 
D  IDENTITY DECENTRALIZED  IDENTITY APPROACHES ARE MUCH 
MORE SECURE. BUT  AS FAR AS IMPLEMENTATION 
GOES, WE STILL HAVE A
LOT OF WORK TO DO.
2
DECENTRALIZED  
IDENTITY USE 
CASES
Decentralized identifiers and verifiable  
credentials have immense value. On 
an  organizational level, they can 
simplify  onboarding processes so that 
employees  or consumers don’t need to 
transfer their  personal data across 
various inputs. They  can reduce 
friction, make customer  adoption go 
faster and reduce concerns  about 
data sharing, storage and privacy.
Different verifiable credentials can also be issued 
for  different purposes. Besides the obvious ID 
carts,  consumers can also leverage DIDs to 
secure digital  prescriptions, or prove education 
credentials,  businesses can use verifiable 
credentials for bills of  lading, insurance 
certificates, export licenses, and  more. In short, 
decentralized identifiers and verifiable  credentials 
present countless personal,  organizational, and 
societal applications when it  comes to fortifying 
personal information.
HOW CAN  
DECENTRALIZED 
VDAUTALTS HELP?
Leveraging multi-party computing, decentralized  
data vaults split data into multiple pieces, encrypt 
 them and distribute them across peer-to-peer  
networks. Each piece of data is stored in a  
dedicated  storage node that has a  
corresponding node that is  responsible only for 
the decryption of the specific  data component.
Personal data on the backend is secured and not 
vulnerable to  breaches which can be used for 
subsequent account takeover attacks;
Privileged access credentials cannot be shared or 
distributed;
The risk of unauthorized activity even among 
insiders or those with  proper credentials is 3
minimized.
1917655204
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