[0221] PeerMountain: ID, Trust & Digital Keys on the Blockchain

While a large percentage of crypto enthusiasts prefer privacy over having their personal data exposed, the truth is that there are times where you actually need to show your face on the internet.

The hysteria over data privacy is not a level-headed debate and fails to assess things on a case by case basis. It's a reaction to years of data harvesting by big companies who exploited the lack of legal infrastructure before the law caught up with them.

GDPR is the first step towards reining in corporate harvesting and profiteering off personal data.

Digital ID

While many people have a contraction over the notion of a digital ID, the fact is that you actually have need of one. From car licenses, to travel VISA's to ownership of property, a way to identify the legal owner of a thing is always going to be a staple of an organized society.

Without a way of sorting of what's yours and what's not, what you would have is a mess.

Imagine that your email or Facebook account had no password on it? And anyone could log in and post?

Digital ID's aren't just about a security issue. They are fundamentally about a clarity issue so that things remain clear. Who says what. Who owns what. Who needs to be put in jail for being a bad actor in society. An ID attached to a person and their behaviour is a way of keeping score.

Too often the debate over privacy vs digital ID on the internet sways towards conspiracy, 'big brother' stuff. Which can be problematic, I agree. But it isn't the only problem to watch out for. And so often, the issues that a lack of transparency are ignored entirely.

Blockchain ID

The crypto community tends to have a 'hell no, we won't go' attitude towards the subject of ID. But this is an ignorant viewpoint that lacks nuance.

1. Digital ID for health records is a must. If you have ever spent time in intensive care, you would know this.
2. Digital ID for property ownership is a must. If you have ever been robbed, you soon know this.
3. Digital ID for your bank accounts is a must. If you have ever been frauded, then you know the need for this safety feature.

I was listening to an interview the other day talking about digital ID on the blockchain and one of the examples cited was horrendous.

The example of a clear need for property and digital ID regarded the Syrian refugee situation. Basically, once the war ends in Syria, hundreds of thousands of people will return home and find that people have claimed their homes and land. Their reasoning is that they have survived the war and therefore are owed something.

What a horror to find after a war has ended and you return home after years in exile.

The point is that digital ID's do have strong use cases, no matter how phobic you are of big brother. The thinking that a totalitarian control state may ( or, has ) taken over the world is not the whole picture or problem to be solved. There are other very real problems to add to the list of watching out for Big Brother.

The Rise of Digital ID

ID, proof of ID and verification services are a cornerstone of the modern world. As mentioned, an ID affords protections to it's owner.

With the new technology of the blockchain rolling out, new forms of ID are rolling out that will phase out the current password systems that we use to sign into websites and online accounts.

In the old system, each individual website provided an ID / account and so what you ended up with are a thousand different accounts... Often with the same password ;) In the new system, you will have a digital ID that serves as a key to any website, bank account or service that you log into.

The new tech will streamline the whole system and 'signing in' will become seamless and invisible. Instead of the brick wall you face every time you wish to interact with one of your own accounts.

That's just the start.

New forms of ID will make payments smoother, transactions faster and streamline the technology we have in place.

Much thought has gone into the problem of ID on the blockchain and some interesting innovations are being born out of it. Some data remaining private with some data being public. Ways to manage what personal data you share so that you can get monetary rewards.

PeerMountain & Companies That Build #TrustCoins

While it's one of the least popular types, I actually keep tabs on projects in the digital ID sector. I'm not swayed by the anti-hysteria of the community and see this as one sector that is building out key infrastructure for the crypto space.

1. Digital ID are the gateways into and out of the crypto-financial world.
2. Coin exchanges & crypto-hedge funds are the arteries that money flows into, around and out of the space.
3. Gaming, social media messaging and pop culture coins are the drivers of mass adoption.

Digital ID is big business in my mind. As an investment, there is big money there if you take off your emotional glasses and look at the need for it.

Trust vs Privacy Coins

Trust-based systems are going to be a major trend as the crypto space matures. Whether you want the crypto space to grow into the current banking and global finance markets is beside the point.

The real question is this. Where else do you think it will grow into?

The road is clear for crypto. Bridges are being built to integrate cryptocurrency into the current, traditional finance world. The infrastructure is being built on both sides and it's just a matter of time before the bridge is open for traffic.

1. Regulation, legal debate and a fairly healthy attitude to crypto is being built on the other side of the river.
2. On this side of the river, blockchain tech is evolving and solving the problems of traditional and legacy systems, thus proving to be a non brainer for adoption.

Digital ID's will be the key to bringing crypto and the mass market together.

Website - www.peermountain.com/

Thanks for watching,

Brendan Rohan - Indie developer of 'next gen' natural medicine from Melbourne, Australia

Www.Skyflowers.co ( see "botany" tab for the plant research )
Www.ClinicalFlowerTherapy.com
Social @iSkyflowers
YouTube Skyflowers.Tv

If you support natural medicine and an independent research project that began in 1997, then steem me. The creds I get will help me provide a solid body of information that future generations can build upon.

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DISCLAIMER: This article and all information on this channel & all content is offered purely for educational & entertainment purposes. Always do your own research when investing money and seek the help of a registered financial advisor.