Some blockchain applications are solutions looking for problems, but there are other issues that are just begging for help from decentralized technology. Managing and authenticating identity is one of the latter.
Traditional authentication processes in many industries use easily guessable identity questions, forgeable documents and unwieldy manual checks. As such, they are ripe for disruption. Armin Ebrahimi, CEO and founder of the blockchain-based ID management company ShoCard, said that the real challenge is focusing the lens.
“There are so many areas where solutions can apply; one of the challenges has been focusing on fewer verticals so that we can do a better job and not spread ourselves too thin,” he said.