In addition, the
new identity record is now four pages with extra questions regarding client risk and the purpose of the business relationship.
But in countries like the United States, China, Russia, Singapore and Switzerland, government groups have talked about using blockchains for myriad tasks, like issuing national currency or tracking
identity records for citizens and visitors.
To enable the awareness of malicious activity, it's important that the digital
identity records of IoT devices are assigned a public key infrastructure (PKI) certificate.
Lubin's organization has set up trials for automatic music royalty payments,
persistent identity records, and solar energy trading tokens over a blockchain.
«Blockchain technologies have lowered the cost of monetary transactions in the developing world, and could be used by refugees to store
credible identity records.»
«Among others, tokens can represent a medium of exchange such as a virtual currency, a regulated financial instrument such as a share, or a person's
identity record.»
Imagine trades being executed without a clearing house, or
identity records that could not be forged.
You can store contracts between parties, land ownership records,
identity records — anything that needs to be tracked and authorized can be stored on the Blockchain.
Identity recovery protection helps identity fraud victims restore their credit history and
identity records to pre-theft status.
Statistics also reveal that about 1,300 identity breaches were reported in the US leading to corrupted of over 175 million
identity records.