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RE: Encrypt Your Identity with CIVIC

in #cryptocurrency5 years ago

I couldn't agree with you more, Civic is great. It has the potential to keep the most sensitive personal information of people safe from hackers. In recent years there has been a steady stream of incidents in which the personal information of millions of people was compromised due to hacks. When even Equifax - which is responsible for compiling and safeguarding the sensitve personal information that is the lifeblood of its business - gets hacked, that tells you everything you need to know about the need to improve the safety of our personal information.

Civic offers the real potential, using the blockchain, to prevent these types of hacks from occurring in the future without the need for centralized storage of the information. This will be a compelling value proposition for big business, which will have the ability to access the information they need without the need the gather and store it themselves. Believe me, that is the last thing they want to do, because having that information is costly to maintain and try to protect, which is outside their core competencies and subjects them to expensive lawsuits and humiliating negative publicity when something goes wrong.

I am happy to have a position in Civic and think it will turn out to be a good investment.

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Tell me about it. In March 2018, GDPR (General Data Protection Regulation) will be activated in EU, a serious headache for me and other software developpers, loads of work...

Encrypt your identity with NationalSA

I better hope that the big exchanges encrypt personal user data well.
What if a big exchange like Kraken or Bittrex got hacked.

Great read overall! Thanks for sharing! Looking forward to hearing more of your thoughts on the crypto markets!


https://steemit.com/bitcoin/@college-is-dumb/bitcoin-crash-sunday-bitcoin-overpriced-investment-banks-manipulating-futures

@fechaugger that's something I've been thinking about as well. I'm new to crypto and have been blown away about the amount of personal data I've had to share to be able to trade, I am usually crazily protective about the info I share online. I like the idea of encrypting my identity with something like Civic, and I can see the market value in it, but as @heiditravels said, who is the third party verifier?

Right, that's the question.

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