New App delivers secure ID information storage
In a world where privacy concerns and data hacks are becoming increasingly frequent, US-based venture Civic has developed a Secure Identity Platform (or SIP) for storing sensitive contact information online. Users don’t need a password, username or third-party authenticator to access their information, as everything is protected by biometrics – they access and share their data via their own fingerprint. Whether buying a plane ticket or signing up with a new online service, everything can be done quickly and easily through Civic’s dedicated app, which is available for both iOS and Android.
In theory that sounds perfect, but the success of any identification platform rest solely on how secure it is. SIP uses blockchain technology to ensure that users’ information can’t be accessed by an unauthorized third-party. There has been lots of research and development carried out in this field, including private ventures (e.g. Consensys) and open source initiatives such ID2020 done by the UN and Accenture.
Civic’s solution works by first collecting user’s identifying information, which is then passed through to an identification service for checking. Civic then takes a cryptographic hash of the information, inserts the hash into the public blockchain and then deletes the personal data from its servers. This means that when clients need their information then it’s checked against the data on the blockchain, and the only place it’s actually stored is on the user’s device. In the next phase of development Civic is releasing the Civic Token (CVC), a utility token which will allow users to purchase the company’s identity-related products and services.
In a digital world prone to hacking attacks, blockchain is rapidly becoming the most secure way to store information. We have recently seen the technology being used to help create transparency around the source of news, and a digital token has been issued to make it easier for investors to buy into a portfolio of blockchain startups.
With everything from newsfeeds to new ways to invest in technology, could this system be at the forefront of the evolution of the internet?
Spotted by Murray Orange, written by Springwise.
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