How Blockchain Can Help Us Take Back Control of Our Own Identities

How Blockchain Can Help Us Take Back Control of Our Own Identities

By TLB Contributing Financial Author: Jeff Broth.

Does it bother you that you aren’t fully in control of your data? If it doesn’t, it probably should!

The Internet is expanding at a phenomenal rate. Right now, it has almost 4 billion users. It’s become an intrinsic part of our daily routines, and many of us couldn’t imagine life without it.

But this expansion is coming at a cost.

One of the most dangerous costs? It owns your identity.

Sounds ridiculous, right? But it’s true. If you think you have control, think again.

Our Current System Needs to Change

Right now, our current identity systems are paper-based, nationally-driven, and owned by the aren’t leveraging this.

In fact, it’s this serious lack of modern infrastructure is exactly what we have to blame for, so many people are being excluded from identity systems.

The vast majority of our identity systems are centrally planned and managed. The problem is, this isn’t safe or secure. In fact, it’s ripping control away from you – the identity owner.

No longer is it merely ‘unfair’. It’s reached the point where it’s downright dangerous.

Our current system exposes us to inefficiencies and delays, and does nothing to protect us against data leaks, threats, loss of privacy, and even identity theft. Not only are we left at the mercy of our governments, we are also made vulnerable to hackers and people who want to steal from us.

Meet SelfKey: An Alternative to Centralized Identity Management

Imagine if you could instantly apply for a passport, buy gold, or incorporate a company in a safe, secure manner. Consider what it would be like to not have to worry about maneuvering through all the red tape that’s been put in place by the government.

It’s not just a pipe-dream. In fact, it could be far closer than we’ve all come to think, thanks to SelfKey.

Blockchain-based SelfKey is the digital end-to-end system that could be just what it takes to bring an end to our current identity management crisis.

The most exciting thing about Selfkey’s underlying technology is that it’s decentralized. That means that instead of our data being stored on one huge centralized server that’s just waiting to be hacked (like it is right now), it would be spread across a huge network of connected computers that’s almost impossible for anyone to break into. 

This decentralization of SelfKey also means that no one has ownership of it. That means it isn’t controlled by the government, a corporation, or any other third party. Your data belongs to you, and your freedom returns to your own hands.

You can see the full list of SelfKey’s services in their marketplace.

In today’s world where corporate giants like Facebook are selling our data to other corporate giants who are doing just about everything they can to try and sell us their products, it’s about time we take back control of what is rightfully ours.  

This might just be the first step of many.

Blockchain Gives Us Control Like Never Before

It’s easy to see why everyone is so excited about platforms like SelfKey, and even more importantly, blockchain itself.

If you don’t know what blockchain is, you’re already missing out. You might recognize the name from the recent Bitcoin hype, but powering the popular cryptocurrency is only one of the many potential uses of this revolutionary technology.

Aside from being basically unhackable as we mentioned before, it boasts a huge number of other benefits that everyone in the world can take advantage of. It’s shifting the power back from huge corporations and the government who is trying to control it, to the people.

We’re getting closer and closer to a world where unnecessary complexity is a thing of the past. Data will be inherently secured and guaranteed. We could cut out middlemen to save precious time and resources.

It won’t just revolutionize business. It will revolutionize life as we know it.

Now we must be the first to start the charge by finally coming together to claim back our freedom that has been snatched away from us for so long.

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