Fraud

Improper management of identity is a fundamental reason for a lot of problems encountered in the finetech and identity management industry as a whole. This includes but is not limited to issues such as corruption, fraud, theft and several forms of graft. This weakness is exploited by taking advantage of other reasons such as system inefficiencies and deliberate dishonest human interference for personal or organisational gains.

Blockchainization has occupied many spheres of our life, starting with finance, systems of electrification, land registration, storage of medical data, flying taxis and ticket sales. However, the most important progressive move, which  blockchain brings along, has the potential to change the whole structure of people’s relations fundamentally, excluding intermediaries, as well as many centralized management bodies.

А series of companies from different countries around the world have announced blockchain-related projects in the field of digital advertising. All of them are aimed at solving the problem of verification of qualified advertising resources and preventing ad fraud, such as from bots or exploitation of backdoors in ad serving networks, the losses from which total $16.4 billion per year, according to the Adloox audit verification company.

A subsidiary company of Russia's largest bank has recently launched a pilot version of a new unified Blockchain-based database of insurance histories that will help to combat fraud in the insurance industry.