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.
The platform is just the latest product in the fintech’s long-evolving blockchain solutions.
China’s Ant Group releases digital copyright platform on AntChain
Fujitsu has been working on blockchain-based digital identity tools since 2019.
Japanese payments firm JCB and Mizuho Bank test blockchain-based ID
Blockchain firm HashCash plans to create a federated and sovereign digital identity architecture to be used in banking processes.
Blockchain Firm Says Banks Need DLT to Manage Identities Better
South Korea’s second-largest city, Busan, will let its citizens access government services using a blockchain-based identification app developed by Coinplug.
South Korean City Opens Public Services to Blockchain-Based ID App
A representative of LG’s information technology subsidiary LG CNS told Cointelegraph that blockchain-based identity systems could replace all login functions.
Decentralized Identity Could Replace All Login Functions, Says LG
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