MNCs around the world are realizing the potential of Identities on Blockchain

The technology they often say is a double-edged sword. It can be harnessed to do a great deal of good, and it can also be used for more sinister things that can bring much harm to humanity as a whole. The internet no doubt remains one of the pinnacles of human innovation. Information which was the exclusive forte of a few elites around the world with a vast pool of resources suddenly became free to access by an average citizen of this planet. With the coming of the internet, business, especially the e-commerce type flourished, and a lot of people made and continue to make a great living with the aid of this new freedom of ours.

But with the rise of the internet, a lot of other problems also came up, as online transactions in every shape or form came under the threat of a new form of identity theft. This growing menace is not just a stuff of fiction or a matter of criminals gaining access to sensitive private info about our lives, it is about hard cold cash too. Identity theft cost billions and billions of dollars every year, and increasingly it’s not just people like you and me that are bearing costs alone, it is the multi-national companies as well.

Every international business that deals with the internet (which practically means all of them) lives under the perpetual fear of online hackings of their systems. From Microsoft to Dell and IBM there is the increasing awareness among Multi-National Cos for a drastic solution for these nefarious activities that cost them billions of dollars in compensation, security upgrade and even more in the trust of their customers.

For IBM and Microsoft for example, the Blockchain technology is what looks like the perfect solution to that will not only solve the identity theft crisis, it will also be able to achieve that under the most cost-effective, and with the permanency that is required for this sector.

IBM which is among the biggest companies to have seen the potential of the blockchain technology for quite some time now has a whole blockchain department. The giant tech company hopes to be among the first to hit this new fertile green filed, and one of its grand projects which is now well underway is in partnership with another Multi-National, in the form of Maersk.  The partnership seeks to provide shippers with an all-convenience platform that will provide incorruptible shipping data as well as replace all present paperwork with a completely digital system that everyone can trust.

The identity of each and every one of us is no joking matter in a digital world. Companies like Microsoft have also taken up this call, and one of the most cutting-edge identity verification solution companies out there has been Velix.ID. This is a company that will provide everyone with the ultimate online ID wherever they might go without the hassle or security concerns with present paper-based systems. There is no problem that defies having a solution, and Velix.ID proves this one more time with the identity verification problem that has previously defied all solutions. The blockchain technology is humanity’s first incorruptible innovation, and it looks set to bring this unassailable authority it has to this sector.

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