There is fundamental forecast due to the digital accounts controlled by different enterprises, government institutes, banks and others who keep all data on a decentralized fiscal accountings and blockchains. They say that cryptocurrency system as Bitcoin, for example, can be applied to Internet identification system without any mediators.
Furthermore, every account owner can chose himself who can have control over his data. It can be just one person or another with special permission.
The co-founder and director of Evernym
Such system uses cryptography with shared key the same that blockchain websites utilize for transaction control. The technology, however, appeared too difficult for development, but the popularity and new cryptography impulse gave momentum to the idea propagation.
Shared key based on two kinds of key: on public and individual one. Both are used to identify account owners and corroborate encoded transactions. In fact, the users’ blockchain account is their individual regulating system.
Will users be agree to give up their old ligins and passwords? We won’t cope with this issue ourselves, we need support from web designers, social workers and everyone who is inspired by this idea.
The director of Digital Currency Group
Government authorities are on the way of accepting this idea. Illinois state has already signed the contract connected with creation the base for newborns. Switzerland also begins to introduce this project for its population.