In today’s digital world, where our everyday tasks like shopping, banking, ticket bookings etc. are done online, we all leave digital footprints whenever we perform any such transactions on the internet. As we are moving towards complete digitalization of the world around us, comprehensive digital traces are left everywhere. A user has to disclose sensitive personal and financial data to avail services such as Paypal, credit card processing, direct banking, Google Wallet, Apple Pay, Amazon Pay, and cryptocurrencies.
As a result, the user’s personal information is often stored across various databases, generated at different times. With time, users identity information might change such as last name etc. this information does not get updated equally across various databases resulting in multiple ‘digital clones’ of an individual existing across different databases.
Today there is much risk involved related to identity theft. Apart from the identity theft, other issues need consideration. As users enter their data to register on several online platforms and, the user is required to create and remember multiple passwords which are a tedious task and is neither secure nor convenient.
RecordsKeeper Digital Identity Platform as a Solution
Considering the issues users face online, regarding storing, updating and securing their personal data, RecordsKeeper offers an exceptional blockchain based solution.
RecordsKeeper leverages the features of blockchain to store digital identity data in a distributed, secured and immutable manner. RecordsKeeper public blockchain ensures that a user’s single digital identity is stored in a secure manner that can never be manipulated. This unique digital identity can be updated by the user with the latest user information.
As the future of blockchain based digital identity storing platform looks bright, companies are showing deep interest in RecordsKeeper digital identity platform for digital identity management and authentication.
Let us take an example of KYC verification by multiple banks. KYC is mandatory process needless to say time-consuming and expensive as well. RecordsKeeper digital identity platform can prove to be a saviour for both, the customers and the banks. The customer has to upload their KYC information once on RecordsKeeper platform and the information gets available to all the banks and other institutions offering financial or professional services anytime anywhere. This eradicates the need for third-party verification and the authenticity of the information is assured. Implementing a blockchain based digital identity platform for KYC will result in saving a great deal of time and cost for both the parties.
Features of Digital Identity Platform
- No costly Infrastructure required
– RecordsKeeper uses its own public blockchain saving enormous costs for identity requesters that would otherwise spend a lot to set up the infrastructure to support any identity platform solution.
- Ease of updating
– Identity data is updated by the authenticating authority. If a user changes their residential address, in this case, the new one will get updated by the authenticating authority.
- RecordsKeeper Never Stores User Data
– User Identity data is stored in encrypted form in the RecordsKeeper App on members mobile devices.
- Globally Protected
– Blockchain Technology features make the user identification data stored on RecordsKeeper globally protected.
- Global Compatibility
– User identity data is globally compatible as information is stored in JSON format. Users can store and share their own identity anywhere in the world. The user identity data is accessible anywhere in the US, Europe, Africa, or Asia.
- Next-Generation Security
– RecordsKeeper uses the power of the public blockchain, the privacy and security of user data is ensured.
Digital identity platform on RecordsKeeper is one solution to many problems people face today regarding storing, updating, managing data. It is one of the best application of blockchain technology so far.