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The average person has over 100 online accounts, 100 places some form of your personal information is stored, as well as 100 chances for your data to be involved in a breach. Decentralized identity in essence, gives the power back to the people. It means people manage their own identity information and authentication data is shared to establish a high level of trust with services (decreasing fraud risk for businesses) The European Commission has issued a specification for providing a secure digital wallet for Europeans - eIDAS.