Identity

Global digitization and coronavirus pandemic have created the need for innovative solutions to replace some traditional ones. Digital identification (ID) is one of such significant solutions trending in the world.

On May 20, an anonymous user moved 50 Bitcoins from a wallet that remained idle since February 2009. The community was in turmoil, while the BTC price dipped instantly. Was that Satoshi Nakamoto?

The market for identity authentication management using blockchain and distributed ledger technology (DLT) is likely to grow to around $11.46 bln by the year 2026 – just six years from today.

Apple Inc has become the newest member of the Fast Identity Alliance Online (FIDO) a group aiming to have zero password access to devices. Among the association members are big names such as Google, Microsoft, Amazon, Intel, ARM and Samsung.

The fungibility of Bitcoin has been an issue of contention among many. The question is, “can a quantity of bitcoin be swapped for another of equal value?” The answer is yes because can lend you one bitcoin and when you pay me back, it doesn’t have to be the exact BTC that I gave you. This means that Bitcoin is fungible.

On September 7, the Catalonian administration disclosed it will create a decentralized platform intended to provide nationals control of their private information when networking with online services.

Blockchain and distributed ledger technology (DLT) can now be used for Digital identity on the internet of things (IoT) in Italy. The combination of Internet of Things and DLTs such as the blockchain enables an interesting digital model for IoT, and tend to create new avenues for implementing and protecting IoT systems. Let us have a look at some of the important reference models.

Sierra Leone set a record of becoming the first country in Africa to have national blockchain-based ID system. On August 21, the government rolled out a decentralized National Digital Identity Platform that is based on the distributed ledger technology (DLT) and the platform was designed by both the National Civil Registration Authority and KIVA. The launch happened at Radisson hotel in Freetown and was headed by President Julius Maada Bio.

Using algorithms, blockchain, cryptocurrency and other innovative technologies, Italians and other people across the entire world will be able to travel with a unique digital identity. In ten years to come, passengers in international air transport will increase to around 1.8 billion (+50%) compared to the 0.85 billion passengers that were available in 2016.