We feel that our personal data is very important and priceless. However, the reality is very different. Stolen credit card information, addresses, phone numbers, social security numbers are sold on the dark web for as less a dollar or two. There has to be a solution, right?
We are at a point where we choose convenience over privacy.
All of us just agree to whatever terms and conditions that are required to get that ‘free’ service. In exchange, we are giving away our phone numbers, location, credit card numbers and what not! We do not like to enter our credit card number over and over again so we save it to check out quicker.
I wish to leverage this platform to emphasize on the blockchain technology. All the people who ridicule this technology need to gain a wider perspective. Our visible internet is just 10% of the entire web. We need to be more aware.
Last year, 16.7 million people in the U.S. were victims of identify fraud, a 1.3-million-person jump since 2016.
Blockchain enabled identity management not only gives us the ownership of our data but also keeps it very secured. This makes us a sovereign individual. Blockchain technology makes it extremely difficult for fraudsters to gain data illegally.
Presently, the people on the dark web prefer using bitcoin as a means of payment because it is very secure and keeps identity anonymous. Likewise, if we want to protect our identity, we should adapt to blockchain technology.
A lot of blooming startups like uPort, Civic, Sovrin are working towards this endeavor.
Let’s protect ourselves and our loved ones. Together we can put an end to identity theft. The more people join the decentralized network of identity, the stronger it is!
