As Blockchain Identity Becomes Real, 2017 Will See An Explosion of Blockchain Profitability

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Blockchain identity is already in use in various sectors of data management and technological development. With its applications so far, can we say that the Blockchain has lived up to expectations? Some experts think it’s overhyped, others see that late 2016/2017 will be the year of explosion for real-world Blockchain profitability and usage. That is, as long as politics doesn’t get in the way. What is Blockchain identity? Blockchain identity is also defined by Christopher Bates of Bitland as the representation of a 100% verifiable identity which can be established through a series of security layers and protocols. It is a system which makes it possible for encryption to prevent anyone who doesn’t need to see information from accessing it. Bates explains that this can be applied when working with government oversight, where Blockchain identity could be used to protect Social Security accounts from being pilfered by governments who have overspent on their own budgets. Bates says: “One of the biggest issues is that tax money has no oversight once collected, and something like Blockchain identity could help prevent governments from spending taxpayer’s money which wasn’t theirs.” Unique opportunity for Bitcoin’s Blockchain Blockchain identity, according to Carl A. R. Weir CEO …