Digital Identity Management

While many governments have issued forms of physical, online and digital identities, these do not recognize national boundaries. Again, processing these identities in many cases will require trusted, central authorities and the data is stored centrally, which not only increases cost of data storage but also exposes that data to everyone else with access to central data centers. There is less or little control of the data on the part of the end user. 

Blockchain helps in creating and management of a digital ID that is stored on a decentralized computer system. Not only can it be used for authentication purposes globally, it can be used across global platforms, and most importantly secure personal information. 

Users, on their part, can share this data to any companies they wish and on their own terms.

Benefits of identity with blockchain

  • Users can register, store and manage their data on the blockchain. They will be able to control who accesses this data. They can charge on companies or other entities willing to pay for access to their data.
  • Identity problems do not only exist when identifying persons. Counterfeit products, for instance, are common today and companies that manufacture original products lose millions if not billions. Companies in any industry can create, register products and then monitor supply chains on the blockchain. It can also help track fraudulent transactions and stolen merchandise.

Digital Voting

Block chain technology is proving its hand in Digital voting session by offering the way of verifying that a voter’s vote was successfully sent while retaining their anonymity. It promises not only to reduce fraud in elections but also to increase general voter turnout as people will be able to vote on their mobile phones. As the highly topical in the wake of the investigation into Russia’s influence on the recent U.S. election, digital voting has long been suspected of being both unreliable and highly vulnerable to tampering.