Identity and access management is always changing. And as our personal and professional lives become increasingly connected, the risk of data breaches and privacy infringement is always growing. It’s why many regulators, organizations, and individuals are turning their attention to decentralized identity, an approach that gives people more control over their personal information. In fact, Gartner predicts that decentralized identity will be the standard by 2024. With that in mind, we’re exploring what decentralized identity is, how it benefits businesses, workforces, and consumers, and what Okta is doing to prepare for the next chapter of identity and access management. What is decentralized identity? Decentralized identity gives individuals control over which data they share with organizations and allows them to revoke access to that information whenever they desire. This can be done by using digital wallets, which store identity and credential information from certified issuers (e.g., governments and employers). Broadly.