Blockchain's Next Use: A Global Identity Network
IBM is teaming up with non-profit Sovrin Foundation to use blockchain technology to build a framework of global identity for both individuals and businesses, which aims to make everything in the online space as true and authentic as in the offline space (or "real world").
Blockchain will use its decentralized ledger system to create trust for people and entities to share information without the need of a third party monitoring authority. The opportunity for this type of system to take is huge based on the major problems of data being compromised and privacy breach in the last year.
The IBM and Sovrin initiative would implement the missing layer of security that the online world has been missing for so long, and help greatly mitigate the potential of future information security breaks.
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Article from Reuters
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