Why Securing Your Identity is Important
According to the Bureau of Justice Statistics, it is estimated that more than 17 million people in the U.S. had their identities stolen in 2014.
Identity theft has been steadily increasing at an alarming rate, and a majority of the people are unaware of the repercussions that are associated with such a crime. At the same time, they are uninformed in the various ways to protect their identity. Protecting your identity is of prime importance because, once your identity is stolen, it is usually used to perform illegal activities.
Hence, it is always important to secure your identity as it provides protection against targeted cyber-attacks. For instance, if your information is compromised, hackers can socially engineer their way into your personal systems. One way to do this is through a phishing scam. In order to protect your identity, Ydentity has come up with an innovative solution.
Ydentity is the first risk-identity token to use a scientific method of evaluation of the member’s initial condition to issue a predictive model for onboarding and underwriting. Ydentity is focused at the centre of risk management in a shared economy. The Ydentity token is implemented on Hyperledger Fabric, a secure, enterprise-grade, permissioned blockchain, using a smart contract service interface to interact with client wallets, distributed ledger infrastructure, and external systems.
Ydentity integrates blockchain technology to create a risk-identity token that is located as a confluence of psychological testing and government identification and meets with defence-grade KYC and cybersecurity standards. Ydentity is also fully compliant with new EU General Data Protection Regulations (GDPR).
Ydentity aims to provide total security to the identity by creating a unique token for each user. This token can be used to navigate the web without having to disclose one’s identity. This way, the identity is secured and can only be revealed, if the user wishes to do so. So, protect your identity for a risk-free digital footprint.