Will Blockchain be able to replace username and password system in the future

Question

Will Blockchain be able to replace the username and password system in the future?

Answer 1

Well, so there are companies that are actually working on this but are in a very early testing state. Blockchain Distributed Ledger Technology in combination with Digital Identity Verification can create something mindblowing. How is this possible?

They are creating a digital wallet that can be used as a personal repository which will contain all personal and financial data and knowing anything about anyone would be possible. But you might have a doubt, why would I want anyone to know everything about me. But there also exists a functionality for of course security purposes where such details can only be accessed by authorized people and only with the user's permission.

They also have something called CULedger that allows the users to control who can see how much of their information and get purchase approval without income being exposed etc.

So now imagine a company can know about the employee's history by just a virtual button click or a bank can know about a person's financial status with just a click. pretty cool, isn't it?

Will all these upcoming features blockchain will soon replace the login systems.