Coinbase is entering the market of digital identification?

Coinbase is entering the market of digital identification?

Company Coinbase has acquired the Distributed Systems, a company from San Francisco that deals with developments in the field of digital identity.

Distributed Systems for some time working on “decentralized solutions in the field of identification”. A team consisting of five people will join in Coinbase, which also deals with issues of digital identity.

B Byrne, who heads the development in this field in Coinbase said that blockchain technology can help people to maintain complete control over your personal information represented in digital form, at the same time, ensuring that their personal information remains safe. He believes that in the U.S., this technology can be applied in the field of social insurance.

Every time you need to prove your identity using the SSN (social security number), you need to present a copy of it. This copy is equivalent to the original, so if there is a leak of information from the company where you store copies of your data – this represents serious risks. Decentralized identification will allow you to provide data about my social security number without being copies.

If to dream a little on this subject, it is possible to imagine the use of this technology in respect of any personal information: photos, messages, social networks and even passport data.

While Coinbase seems in no hurry to implement the tools of digital identification. Byrne wrote that the company will be very careful “in terms of how and where we apply this technology”.

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