Identification is the process of recognizing and naming an object. The term Identification covers both the process of naming yourself and determining other objects. Identification is not equal to proving that you are what or who you said you are, it is just a statement of it. In IT, identification is analogous to entering a username. Various types of identifications are actively used in governance, science, media, inventory management and IT systems. Digital identification solutions are an important part of information security. Customer identification systems are crucial for Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, various marketing programs and the privacy of customers. Blockchain personal identification systems can strongly improve the identification process with blockchain-based identity confirmation platforms that include biometric IDs and decentralized identity management built upon a robust and immutable network.
Blockstack PBC’s annual report with the SEC highlights payments made to other crypto firms for its marketing efforts.
Blockstack's SEC Filing Reveals Heavy Use of Tokens When Paying Services
Adam Todd, CEO at Digitex Futures Exchange, reveals that the exchange will completely take down all KYC as of April 2020 in response to earlier data leakage.
Crypto Exchange Digitex Removes KYC to Protect User Data
NH Bank rolls out first commercial use of a blockchain ID system developed by major South Korean firms like Samsung and LG Uplus.
South Korea’s NH Bank Debuts Samsung-Backed Blockchain ID System
Blockstack’s claim of having one million verified users has been questioned extensively, which prompted Cointelegraph to investigate its blockchain data.
Does Blockstack Really Have 1 Million Verified Users?
A Central Bank of Azerbaijan official says a blockchain-based digital ID system will be adopted in the Q1 2020.
Azerbaijan to Adopt Blockchain-Based ID System in 2020
A consortium of major South Korean firms partnered to launch a blockchain-based mobile identification system in 2020.
Major Korean Firms Partner to Launch Blockchain Mobile ID System
Fujitsu has developed a blockchain-based solution for identity verification and trustworthiness that is based on user evaluations.
Fujitsu Unveils Blockchain-Based Identity and Credential Rating Service