bima blockchain breakfast briefing | benjamin maugain presentation | cyber-duck
TRANSCRIPT
Identity on the blockchainBenjamin Maugain – Technical Project Manager
@HerrBen / @cyberduck_uk
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THE GLOBAL IDENTIFICATION CRISIS
The global identification crisis
• Over 232 million undocumented migrants• The birth of every 3rd child has never been
documented by any service or group• 21 million or more people sold annually on
the global scale• Human trafficking accounts for $40 billion
annually across the globe
Data: http://bitcoinist.net/blockchain-identity-solutions-solving-global-identification-crisis/Image credit The Son of Man, 1964 - Magritte
Identity fraud in the UK
• 80% of all identity fraud perpetrated online• Bank accounts: 27% of all identity frauds• 34,151 confirmed instances• => Increased by 31% / previous year
• "Identity fraud is at the heart of much of today’s criminality, acting as a key facilitator for a host of other types of offences." Detective Chief Superintendent Dave Clark, City of London Police
Data: https://www.cifas.org.uk/id_fraud_first_quarterImage credit The Son of Man, 1964 - Magritte
IDENTITY ON THE BLOCKCHAIN
Identity on the blockchain - PROS
• Decentralised: more transparency• Reliable: No central point of failure• Secure: Immutable data• Administration cost: saving money• Privacy: storing hash• Voluntary identification system• No borders• Examples (global scale):
https://onename.com/https://bitnation.co/
Image credit Golconda, 1953 - Magritte
Storing data on the blockchain - CONS
• Cost: 1 bitcoin transaction = $8.00 or £5.50
• Sustainability: 1 bitcoin transaction = 30kWh
• Slow: 10 minutes to commit transactions• Regulation: Blockchain is a tool for
recording transactions, not for authorising new transactions.
• Validity recognition• No international standard
(https://www.hyperledger.org/)Data: http://www.computing.co.uk/ctg/analysis/2447222/blockchain-not-the-messiah:
Image credit Golconda, 1953 - Magritte
