Blockchain Technology Could Replace Social Securities Numbers

Blockchain Technology Could Replace Social Securities Numbers as ID Credentials

Cyber hacking attacks have risen dramatically in the last couple of years, with hackers primarily targeting businesses that hold quite sensitive information such as social security numbers, credit card numbers, passwords etc.. Last month, news broke out that the renowned credit reporting bureau, Equifax, was a victim of an elaborate hacking attack. The hackers were able to access the social security numbers, credit card numbers, addresses and other sensitive data of over 143 million U.S. citizens.

In the wake of the information breach, the Trump administration decided to task several federal departments and agencies with the responsibility of coming up with a new identification method in order to prevent such hacks from occurring again. According to a recent article by Bloomberg, Rob Joyce, The special assistant to the president and the White House cybersecurity coordinator, suggested that this type of new Identity system needs to be based on a “modern cryptographic identifier.” , which suggests that it could be predicated on Blockchain technology.

Estonia Is Leading the Blockchain Race

Most nations and authorities might not be using blockchain technology for identification nevertheless, nevertheless there are a lot of pick countries that see blockchain as the near future. Estonia, frequently considered the “Blockchain Nation”, is just 1 example of a nation that’s implemented blockchain technologies to its authorities infrastructure. Additionally it is worth noting that Estonian eHealth jurisdiction can also be using blockchain technology in order to keep the medical care advice of taxpayers protected and easily available.

Analysts suggest that more authorities will implement blockchain technology into sensitive infrastructures so as to safeguard important data from hackers or person who are senile.

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