Blockchain technology can be used to accomplish many things, as our current ecosystem has shown us that more transparency is a must. Issuing a person’s identity over the Bitcoin blockchain is just one of the many possibilities, and ShoCard has been attracting quite a lot of investor interest with their business model.
ShoCard – Authenticating Identification With The Blockchain
It is no secret that identity theft is a real plague these days. All someone needs is one vital piece of information, most of which can be obtained through social media platforms. Or if they truly want to steal your identity, phishing emails are still a looming threat to date.
On the other hand, verifying somebody’s identity can be a painstaking process. A user would need to submit his or her identification to a third party, which then needs to ensure the documents are genuine. Processes like these can take up to a few days to complete, which is not something either customers or merchants want to wait for.
The Bitcoin blockchain offers ample opportunities to not only disrupt the financial sector, but also revamp the entire world of technology as we know it. Decentralizing services, storing