Is Blockchain The Missing ‘Digital Identity’ Link?

• Is Blockchain The Missing ‘Digital Identity’ Link?
  by https://www.trunews.com/
  Universal Digital Identity Has Been A Popular Topic At Davos For More Than Two Years.
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  At the World Economic Forum in Davos, Switzerland, the concept of a “universal digital identity” has been goal for the global elite for more than two years, but it seems technology is now finally catching up with their dream.
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  Everyone already has a digital identity—usually based on one’s email address(es), identification number, or mobile phone number—but beyond that, there’s little there to distinguish one person from another in the physical world. For security purposes, banks and governments need more information to confirm a person’s physical identity matches his or her digital identity.
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  That is the goal of UDI, which would effectively make birth certificates, driver’s licenses, and passports obsolete. Bank cards would also likely disappear, replaced with other means of “know your customer” authentication.
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  Singapore and India have toyed with this concept, and China and Russia are preparing to collct biometric data, as well. But in Western countries, where privacy concerns are still a priority, thre had been little movement until the advent of blockchain.
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  The fintech firm KYC Chain is now developing a process by which financial institutions can maintain high customer identification standards with the data protection afforded by blockchain distributed-ledger technology. This is the same technology that makes Bitcoin and other cryptocurrencies secure.
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