Sunday, December 07, 2014

The Blockchain Is About Trust

The main chain (black) consists of the longest...
The main chain (black) consists of the longest series of blocks from the genesis block (green) to the current block. Orphan blocks (purple) exist outside of the main chain. (Photo credit: Wikipedia)
The bitcoin logo
The bitcoin logo (Photo credit: Wikipedia)
From the get go I have felt the blockchain can handle way more than money. Like identity in general.

Most of humanity does not have internet access. Most of humanity does not have credit rating either, most of humanity does not have Social Security numbers either. And you can't wait and expect governments to patch those holes. They will take forever. I am not saying exclude them, I am saying include them as much as possible, but do not wait for them.

The Bitcoin stands to revolutionize microfinance. ($100 Billion Plan To Save The World)

BitBeat: Blockchain-Based ID App Reimagines Internet Identity
a universal personal ID verified by cyrptocurrency blockchain technology ..... One day, suggests Mr. Ali, you could use your Onename ID to assign rights and powers to do all sorts of things — “to open your garage door, release your medical records or lodge an online vote.”
Feature Friday: Distributed Identity
I predicted that there would emerge a “bitcoin like protocol” for identity. And we’ve been looking for that. ..... One thing we realized along the way is that this could be built on top of bitcoin or another blockchain. And so earlier this year we made a seed investment in a startup called OneName that is building exactly that. ...... a distributed ledger of identity that is open and not controlled by any entity. And that sounds like an application for a blockchain if there ever was one.

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