5-blockchain-applications-that-will-transform-society-what-is-the-future-of-blockchain-1

5 Blockchain Applications That Will Disruptive Society

Ameer Rosic
11/22/16 1:49 PM 2016-11-25 15:31:04
You probably have heard of bitcoin and cryptocurrency by now.  And as of late the term “Blockchain” has made massive splashes in the tech community.It’s the technology that underpins digital c

1. DIGITAL IDENTITY

Just imagine never having to worry about your digital security every again. Its a massive problem in the world.

 

Which is now estimated to cost the industry about $18.5 billion annually, according to a report released Thursday by Distil Networks.

 

New course horisontal

That means for every $3 spent, $1 is going to ad fraud.

Blockchain technologies makes tracking and managing digital identities both secure and efficient, resulting in seamless sign-ons and reduced fraud.

Be it banking, healthcare, national security, citizenship documentation or online retailing, identity authentication and authorization is a process intricately woven into commerce and culture worldwide.

 

Do you remember what happened with Target?

The data breach at Target was significantly broader than originally reported: The company said  that 70 million customers had information such as their name, address, phone number and e-mail address hacked in the breach.

 

Events such as hacked databases and breached accounts are shining light on the growing problems of a technologically advanced society, without outpaced identity-based security innovations.

Blockchain technology offers a solution to many digital identity issues, where identity can be uniquely authenticated in an irrefutable, immutable, and secure manner. Current methods use problematic password-based systems of shared secrets exchanged and stored on insecure systems. Blockchain based authentication systems are based on irrefutable identity verification using digital signatures based on public key cryptography. In blockchain identity authentication, the only check performed is whether or not the transaction was signed by the correct private key. It is inferred that whoever has access to the private key is the owner and the exact identity of the owner is deemed irrelevant.

5 Blockchain Applications That Will Transform Society: What is The Future of Blockchain ?

 

Blockchain Identity Use Cases

Blockchain technology can be applied to identity applications in the following areas:

  • Digital Identities
  • Passports
  • E-Residency
  • Birth Certificates
  • Wedding Certificates
  • IDs
  • Online Account Login

 

Hungry for knowledge?
New guides and courses each week
Looking to invest?
Market data, analysis, and reports
Just curious?
A community of blockchain experts to help

Get started today and earn 4 bonus blocks

Already have an account? Sign In

',a='
';return t.replace("ID",e)+a}function lazyLoadYoutubeIframe(){var e=document.createElement("iframe"),t="https://www.youtube.com/embed/ID?autoplay=1";t+=0===this.dataset.query.length?'':'&'+this.dataset.query;e.setAttribute("src",t.replace("ID",this.dataset.id)),e.setAttribute("frameborder","0"),e.setAttribute("allowfullscreen","1"),this.parentNode.replaceChild(e,this)}document.addEventListener("DOMContentLoaded",function(){var e,t,a=document.getElementsByClassName("rll-youtube-player");for(t=0;t