Altcoins News
By Jean-Luc Maracon
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Blockchain Could Fix Everything. Hoskinson thinks blockchain technology offers the best shot at solving identity verification…
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Regulators Getting Involved. The European Union isn't waiting around for tech companies to figure things out.
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Charles Hoskinson won't shut up about fake accounts. The Cardano founder spent March 31 ripping apart how social media platforms handle identity verification, calling current…
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Identity verification stays broken. Not getting better anytime soon.
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The Cardano founder cited specific incidents that made his point crystal clear. On March 29, a fake account managed to impersonate a major cryptocurrency influencer, fooling…
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Other blockchain leaders jumped into the conversation too. Ethereum co-founder Vitalik Buterin mentioned at a recent conference that decentralized identity systems might work…
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Some companies are actually doing something about it. Civic announced plans on March 30 for a pilot program using blockchain to verify user identities.
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Microsoft's also working on decentralized identity solutions, trying to move away from centralized databases that hackers love to target.
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The European Union isn't waiting around for tech companies to figure things out. They're pushing forward with the Digital Identity Wallet, set to launch in 2024.
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IBM jumped in earlier this year with their own blockchain identity project. They're focusing on transparency and security, which sounds a lot like what Hoskinson's been talking…
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The National Institute of Standards and Technology released a report in February about blockchain's role in identity verification.
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Hoskinson stressed that user education matters just as much as technology improvements. People need to understand the risks of sharing personal information on social media…
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The March 29 incident he mentioned earlier really drove home his point about current vulnerabilities.
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Tech companies are under increasing pressure from regulators to protect user data and privacy.
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Industry watchers are keeping close tabs on how blockchain development intersects with digital identity needs.
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