Identification, ConsenSys & Ethereum
Joseph Lubin, Founder of ConsenSys and Ethereum, recently spoke at Rice University about business and blockchain technology. He covered a number of topics regarding how Consensus and Ethereum came to life. In addition to his business successes, he discussed how he believes blockchain technology can help improve global digital identification and reputations.
Ethereum, of course, is considered the next version of blockchain. (Learn more about Ethereum!) The company was founded in late July 2015 as an open-source blockchain, featuring smart contracts. (For more information regarding smart contracts, head here!) ConsenSys, on the other hand, seeks to create dApps (decentralized applications), to facilitate peer-to-peer transactions. Its focus is to devise Dapps that will ultimately change the way we do business, interact on a human level, and our current economic channels. (Click here to visit ConsenSys’s website.)
Identification Verification and Blockchain Technology
At one point in the video, Lubin mentions Uport, an identification platform. Uport allows users to prove their identity through the use of the blockchain through decentralized applications. So, the user uploads a government ID to Uport. From there, their data is then be encrypted, given permissions, and sent throughout the network. Consequently, placing an identification card on the blockchain, it’s securely stored on the ledger. In the unfortunate event someone loses his ID, blockchain can help overcome some hurdles posed at that time. Lubin describes how this technology can help people around the world prove their identity with just access to the Internet.
Just imagine yourself heading to the airport, spur-of-the-moment. With nothing in hand, you could prove your identity both locally and internationally. Pretty cool, right? While we’d love to give more spoilers, see it for yourself. Catch the rest of Joseph Lubin’s awesome take on maintaining the integrity of your personal identity, with the wonders of blockchain!
Watch the whole thing here–you really don’t want to miss it!