The Secure Key startup spread the word about launching a blockchain system that will be able to identity people, as reported by CoinDesk.
According to head of Secure Key, Greg Wolfond, there will be a new digital identification service based on IBM blockchain technology in the beginning of the next year.
The user can install this service on their smartphone and then use it for identification in government agencies, banking institutions and other organizations.
For example, when opening a loan on the bank website, a request for accessing personal data will be sent to the customer’s phone. After the person confirms this request and the bank gets all necessary information about the client, the loan application will be activated.
Wolfond claims that this platform is a revolutionary invention and will prevent various criminals disguising as law abiding citizens.
According to Bloomberg, several Canadian banks and financial institutions have already invested about $23.5 million in development of Secure Key.
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