System and method for decentralized identity management, authentication and authorization of applications

A method, a system and/or an apparatus for decentralized identity management, authentication and authorization of applications is disclosed. The method, system and/or apparatus enables a machine/application to identify any other machine/application in a network without requiring a central server or authority. The method, system and/or apparatus involves controlling the data access and communication between machine/applications in a blockchain network by authorizing the communication only when there exists authorization permissions. The authorization permission of application/machine and user are stored in distributed ledger only if quorum is achieved as per the consensus algorithm present in the smart contract defined by the admin, making the system more secure.