Blockchain-Based Smart Identity Will Free World of Paper ID’s
A universally compatible Blockchain-based smart identity project by Deloitte has the potential to impact every aspect of our lives. In an era where we are increasingly using mobile and electronic devices to move data around, identity management is still stuck in the era of paper. Crossing borders, being able to drive, getting benefits from the state, all require some form of paper or plastic based identification. Different public and private organizations routinely request identity information from people and companies and often this information has to be given repeatedly even in one day.....
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Blockchain-based startup ShoCard has raised $1.5 million to fund the development of its digital identity card, the Tech Crunch reported. Debuted in May this year, the startup plans to verify and store identity records into the blockchain, a technology that currently runs the disruptive digital currency Bitcoin. In its ideal scenario, ShoCard has hoped to eliminate the need to carry paper documents for identity verifications, a reason why venture capitalists like Morado Ventures Partners, AME Cloud Ventures, Enspire Capital and Digital Currency Group have come forward to fund it. "A lot of....
The International Organization of Securities Commissions (IOSCO), a cooperative group of global securities markets regulators, has published a wide-ranging research paper that includes findings on blockchain tech. The 70-plus page paper, published Wednesday, casts a wider net on the world of fintech, exploring areas such as peer-to-peer lending and robo-advisors. It comes just under a year after IOSCO declared its intention to study blockchain more closely. Though largely a broad overview of the different approaches to blockchain seen in the past several years, the paper does outline some....
Blockchain identity is already in use in various sectors of data management and technological development. With its applications so far, can we say that the Blockchain has lived up to expectations? Some experts think it’s overhyped, others see that late 2016/2017 will be the year of explosion for real-world Blockchain profitability and usage. That is, as long as politics doesn’t get in the way. What is Blockchain identity? Blockchain identity is also defined by Christopher Bates of Bitland as the representation of a 100% verifiable identity which can be established through a series of....
What this concept does is let recipient track their shipment from the departure all the way to its arrival. Imagine the world in which transport containers will become smart enough to know where they need to go. No human intervention required, although all of the commands would be stored on a distributed ledger. That is an area of technology Finland is pursuing, as they want to create blockchain-based transport container intelligence. Albeit the concept may sound strange on paper, it is not unfeasible to achieve either. A new project will take place in Finland later this year, which will....
The WEF looks to introduce legacy systems to blockchains. Blockchain technology in general and smart contracts in particular can “unlock the hidden values of legacy digital systems,” according to the World Economic Forum, or WEF. To understand how, look no further than India’s Crop Insurance Scheme. In a 40-page white paper released on Wednesday, the Geneva-based organization promotes the importance of interoperability between legacy systems and distributed ledger technologies – but only for specific use cases that are suitable for blockchains.The WEF says:“Once readers have already....