ALL NEWS

Integration of digital identifiers based on blockchain into everyday life

Technology Blockchain expands the boundaries of management of identification data, since the governments are looking for scalable solutions that contribute to confidentiality, control and decentralized data management.

Over the past 13 years, blockchain technology has developed in numerous areas of application - finances, data, logistics, safety, etc. However, the idea of ​​using the unchanged blockchain capabilities for identification of people received a new life when Congpeng Zhao visited the island country of Palau to launch the program digital residency. According to estimates, the blockchain -based identification market will increase by $ 3.58 billion over five years from 2021 to 2025. Key factors include the growing demand for digitalization and solutions for identification in compliance with confidentiality. As a result, a huge number of solutions that satisfy this need appeared on the market, in the form of non -functional tokens (NFT), distributed books (DLT) and Barebone Blockchain technologies. Given many options for using blockchain on a daily basis, numerous government organizations began to experiment with technology, making a bet on the digital currencies of central banks (CBDC) and the verified and unchanged user identification. Problems with traditional identifiers Correct identification - or personality establishment - has always been of paramount importance for governments to ensure targeted provision of services and benefits, among other requirements, which is also true to this day. However, the constant development of technology allowed the general public to get tools to create identity certificates visually identical to the original. Given the ability of the blockchain to store unchanged notes, the authorities consider this technology as a chance of combating fraud related to the theft and fake of personality certificates. With traditional personality certificates, difficulties arise with confirmation of their legitimacy in various systems. History shows how people successfully use fake personality certificates to obtain unauthorized access to a huge number of benefits. However, technological achievements, such as blockchain, provided the authorities with the opportunity to issue verified certificates and identity certificates, while ensuring the scalability, speed and safety of the system of control of identification. The efforts in this direction led to the emergence of a new ecosystem, including various sentences of digital identifiers based on blockchain. For example, Shubham Gupta, an employee of the Indian Administrative Service (IAS), recently led the launch of the Polygon system to issue verified caste certificates on behalf of the government of the state of Maharastra. In an interview with Cointelegraph, he said: “If you evaluate the control systems for identification on a scale from 0 to 1, based on decentralization and individual control, then traditional centralized identification systems will be in the extreme left corner, and fully self -sufficient, public identifiers based on blockchain - in the extreme right ". Forms of digital identifiers based on blockchain Although blockchain technology can be used and used as such for maintaining unchanged records via the Internet, innovations that appeared in the last decade led to the birth of sub-systems around the use of blockchain technology. "The idea of ​​digital identifiers on the basis of the blockchain Vital for a long time, but was in the spotlight after the recent NFT paper," said the Bundlesbets.com CEO of Bundelegraph, Brand Gentry.

undefined

#BLOCKCHAIN#GOVERNMENT#BANKS#TECHNOLOGY#ADOPTION#TOKENS#IDENTIFICATION
6/30/2022