Finding ways to prove consumer identity with 100 percent accuracy has been a tough task. Everything from simple cards to fingerprints to iris scans have been used in different applications to provide identity certainty. However, most biometric systems require huge amounts of infrastructure and are cost-prohibitive, while simpler and cheaper methods are often not secure.
Canada has now embraced a solution for this security/cost dichotomy. A new system based on Blockchain technology will allow Canadian citizens to prove who they are instantaneously, and with 100 percent accuracy.
The power of Blockchain
The underpinning power for this effective and cost efficient solution is Blockchain technology. The system allows consumers to store all their personal data on a single device – a personal phone…