Decentralized and Privacy-Preserving Key Management Model

Abstract

Data centralization and the growing rate of security breaches and identity fraud have led us to seek privacy-preserving and decentralized identity management solutions. The success of decentralized models, such as Self-Sovereign Identity, hinges on the positive-sum combination of usability and security. To support this goal, we propose a decentralized system capable of performing key management operations including key generation, key backup, and key recovery. In addition we propose our preliminary solution for a decentralized identity verification protocol. To this end, we design a digital wallet that relies on Shamir’s Secret sharing scheme and blockchain technology, and we present a number of the security parameters affecting our model.