identity
How Blockchain Can Mitigate the Menace of Identity Theft
According to the Center for Victim Research, 7-10% of the US population are often victims of identity theft annually. Moreover, 21% of them suffer multiple cases of identity fraud. This menace is being experienced across the globe, and blockchain technology can be instrumental in stamping it out.
Microsoft Bitcoin-Based Identity Tool Launches Beta Version
Microsoft’s decentralized identity (DID) tool, ION which is based on the Bitcoin blockchain, launched a beta version on bitcoin's mainnet on Wednesday.
Global UAE Bank Building Blockchain Architecture for Federated and Sovereign Digital Identity
A global UAE bank is creating a federated and sovereign blockchain architecture for digital identity via HashCash Consultants, to propel its financial and banking operations and prepare for the future of finance.
Allied Market Research: Blockchain Identity Management Will be a $11.46 Billion Market by 2026
Allied Market Research, a US-based research and advisory company, has reported that the worldwide blockchain identity management sector will escalate to $11.46 billion by 2026 from $107 million recorded in 2018. This will represent a compound annual growth rate (CAGR) of 79.2% because blockchain is touted to offer an immutable, interoperable, and unified infrastructure needed in the storage of digital identities.
Worldcoin Launches Advanced Identity Verification in Singapore
Worldcoin expands to Singapore with World ID verification, following a temporary pause in India due to high demand and regulatory scrutiny.
Worldcoin's Global Identity Protocol Hits 2 Million Sign-ups
Worldcoin, aiming to be largest identity and financial network, led by chatgpt owner OpenAI CEO Sam Altman, as a public utilityan innovative global identity protocol, has announced a significant milestone, reaching 2 million World ID sign-ups during its beta phase
Blockchain Identity Management Market to Hit $17.81B by 2030
The urge for digitization is expected to push the blockchain identity management market to $17.81 billion by 2030, according to a report by Market Research Future (MRFR).
Blockchain Technology Powers Brazil's National Identity Card Issuance
Brazil has commenced the use of blockchain technology for issuing the National Identity Card (CIN) to enhance security and data integrity in the new identity issuance process. The initial phase begins in three states with a nationwide deadline set for November 6, 2023. This move is part of Brazil's broader initiative towards leveraging blockchain for public service improvement, aligning with global trends of digital identity verification.
Korea’s Jeju Island Introduces Blockchain-Fueled COVID-19 App for Tourism
To recover from COVID-19 tourism losses, South Korea has introduced a blockchain-powered digital app for visitors of Jeju Island to ensure safe travels.
ShareRing Rolls Out Skinny ID for Frictionless Blockchain-Based Digital Identity Solutions
ShareRing, a blockchain-based ecosystem providing digital identity solutions, has launched Skinny ID aimed at offering a seamless and frictionless onboarding process.
PwC Singapore's Venture Hub, on the Investment Sentiment of Blockchain Startups
We arranged an interview with Lim Shu Ning, Director in PwC Singapore’s Venture Hub specializing in Blockchain during the SFF, which Shu Ning shares with us the investment sentiment of Singaporean blockchain startups and the state of enterprise blockchain adoption in Singapore.
Exclusive: Liberal Society Comes with Friendly Crypto Regulations
As a veteran lawyer in technology, Nathan Kaiser of Cardano Foundation shares his insights in identifying countries with friendly crypto jurisdictions. He also examined how different jurisdictions affect both on-chain and off-chain governance.
Heterosis Launches Dynamic NFT Flower Collection
Snark.art and OG.Art's Heterosis project has launched a collection of dynamic NFT flowers that can be bred and customized by users. The project creates two virtual flower markets and is housed in a metaverse greenhouse that can be accessed via various devices.
Binance Implements Mandatory Identity Verification (KYC) Requirements
Binance has implemented KYC requirements for all sub-accounts created under its Link Program, with non-compliant sub-accounts facing restrictions and eventual account suspension.
ShareRing Enhances Digital Identity Solutions by Merging ShareToken
ShareRing, a blockchain-based ecosystem providing digital identity solutions, announced to merge ShareToken (SHR) into the Ethereum and Binance networks through a Multichain swap.
Nigerian Police Arrest Politician Wilfred Bonse for Involvement in Patricia Technologies Financial Fraud
Nigeria Police Force arrests politician Wilfred Bonse for over 200 million Naira financial fraud at Patricia Technologies, three for romance scam, and USDT recovery in cryptocurrency fraud.
Polygon Launches Web3 .polygon Domains with Unstoppable Domains
Polygon and Unstoppable Domains have partnered to offer the ability to create Web3 .polygon domain names, enabling users to log into Web3 applications, use human-readable wallet addresses, and create decentralized websites. The service will be available to an estimated 180 million users and 40,000 services across the Polygon blockchain ecosystem. Unstoppable Domains makes use of Polygon to mint decentralized domains with zero gas fees. Users will be able to use .polygon domains to create digital identities that are compatible across 750 applications, games and metaverse platforms, as well as to login to web apps, act as cryptocurrency wallet addresses, and create decentralized websites.
Ethereum Co-Founder Vitalik Discusses Worldcoin's Biometric Proof of Personhood
Ethereum's Vitalik Buterin explores Worldcoin's biometric proof-of-personhood, discussing its potential value, applications, and challenges such as privacy, accessibility, and centralization.
French Football Star Mbappe Seeks out Crypto Scammers Trying to Score off The PSG Striker's Reputation
Kylian Mbappe PSG star launches lawsuit over Bitcoin scammers who are allegedly using his name and image to convince investors to buy-in.
Shiba Inu Unveils ShibariumSSI: A Revolutionary Step Towards Self-Sovereign Digital Identity
Shiba Inu launches ShibariumSSI, a platform for Self-Sovereign Identity (SSI), emphasizing user control over digital data with features like self-custody and zero-knowledge compliance.
Toyota Reveals Blockchain Lab to the Public After Almost a Year of Development
Japanese automotive company Toyota Motor Corporation, in collaboration with Toyota Financial Services Corporation announced its Blockchain Lab involving six Toyota Group companies. The Lab plans to focus on exploring the future of the automotive industry, and said it aims to become a “Mobility Company.”
ShareRing Integrates New Website with Blockchain-Based Digital Identities
To tackle the challenge of the loss of autonomy on personal data experienced in Web2, ShareRing has launched a new website with blockchain-powered digital identities that will usher in the Web3 era.
ShareRing Adopts NFC Technology to Enhance eKYC Solutions
ShareRing, a blockchain-based ecosystem providing digital identity solutions, has integrated near-field communication (NFC) technology to make the electronic know your customer (eKYC) process more secure and reliable.
CFTC Receives DeFi Crash Course
Crypto executives provided a DeFi crash course to the CFTC during their first Technology Advisory Committee meeting. Topics included blockchain technology, decentralization, digital identity, and exploits and vulnerabilities.
EU Passes Vote for Digital Wallet
The European Parliament passed a plenary vote for interinstitutional negotiations to create a EU-wide digital wallet. The eID amendments include zero-knowledge proofs to enable citizens to control their identity data.
Worldcoin Introduces World ID 2.0: Revolutionizing Digital Identity Verification
Worldcoin's World ID 2.0 integrates with Shopify, Mercado Libre, Reddit, and Telegram, enhancing user verification and addressing digital fraud.
Former US Secret Service Officer Warns of FTX Customer Targeting Risk
Former US Secret Service officer Jeremy Sheridan has cautioned that the release of personal information of FTX customers could make them potential targets for identity and asset theft. Sheridan supported a motion from FTX debtors to withhold the confidential information of customers associated with the failed crypto exchange.
Charles Hoskinson Proposes Solution to Fix Twitter’s Problem, Taking Digital Identity to the Blockchain Age
With the recent Twitter hack, implicating individuals including Elon Musk, Bill Gates, Joe Biden, and a few others, Cardano founder Charles Hoskinson spoke about the issue in his most recent Whiteboard video.
Adam Back Denies Being Bitcoin Creator, Claims No One Knows Satoshi Nakamoto's True Identity
Adam Back clarifies that no one knows the Bitcoin creator and claims that Satoshi Nakamoto was a single person who programmed and coded Bitcoin.
Tencent Cloud Tech to Support Blockchain Digital Records for Travel Amid COVID-19
Tencent Holdings has joined hands with blockchain firm ShareRing to deploy a blockchain-powered digital document and identity management solution.
Exclusive: Blockpass COO, on the Significance of the FATF Travel Rule to VASPs
Personal identity is a fundamental human right according to Article 8 of the United Nation’s Convention on the Rights of the Child. Identity is crucial to a functioning society and economy, however, there are 1.1 billion people in the world that do not have proof of identity and 45% of them are among the poorest 20% around the world. For enterprises, customer data protection can be proven costly as 2.8 billion consumer data records were exposed at an estimated cost of more than $654 million in 2018.
How This Startup’s Blockchain Technology Applications in Estonia Verifies Online Identities
There are so many problems in the world. I’m sure you can name them. But here is another one: online identity fraud, which is rampant these days. It’s common, threatening everyone doing business online, especially businesses involving their activities in banking/financial services, online payment services, real estate, insurance, travel, and online market industries. Now, let's take a look at how this Estonian startup utilizes blockchain technology to help protect businesses and their clients from online identity fraud.
Columbia Man Pleads Guilty to Bitcoin Dark Web Chemical Weapon Purchase
A 45-year-old man from Columbia, Missouri pled guilty yesterday in a US federal court to one count of aggravated identity theft and one count of attempting to acquire a chemical weapon—via the dark web using Bitcoin.
Coinbase's Intention to Sell Blockchain Analytics Software to US Government Watchdogs Created Backlash from Crypto Community
Leading American cryptocurrency exchange, Coinbase plans to sell its blockchain analytics software called "Coinbase Analytics" to the US Drug Enforcement Administration (DEA) and the Internal Revenue Service (IRS). This decision is not sinking in well with the crypto community because the software will offer identity attribution for domestic and international cryptocurrency addresses to the US government agencies.
Chainalysis Adds Compliance Support to Track Privacy Coins Dash and Zcash
Chainalysis has just launched support for two of the most popular privacy coins, Dash and Zcash. Privacy coins are cryptocurrencies with privacy-enhancing features that allow users to gain total anonymity when making blockchain transactions. Privacy coins protect the identity of the users and the origins of the transactions, taking the anonymous and private nature of Bitcoin to the next level. Comparatively, Bitcoin protects some information, hence remaining pseudo-anonymous. The rest of the information, including transactions, addresses, and balances, is recorded in a public and permanently available ledger.