Blockchain identity verification enthusiasts now have an opportunity to experience the process using uPort and Gnosis Olympia, a prediction market platform that uses cryptocurrency. Users can currently test the platform using play tokens. To better understand the user interface, I gave uPort and Olympia a try. Prediction Markets on Blockchains Prediction markets are nothing new. Participants have been buying and selling futures contracts on events…
Previously, I shared how the blockchain is being used to solve issues related to identity fraud and security. There is another side of identity management that’s being addressed: providing proof of a digital identity. How do we know people are who they say they are online, and how can the blockchain prevent false identities? I’ll look at how people are currently proving their identities online…
As cybersecurity threats become increasingly prevalent and sophisticated, the case for blockchain technology as a way to secure and improve identity management grows stronger. Blockchain can give people more proactive control over their data and make it more difficult for unauthorized users to exploit it. Blockchain startups are exploring more decentralized data management systems by, in some cases, teaming up with financial services, technology, and…
The abundance of blockchain initiatives and associated initial coin offerings (ICOs) is generating substantial pools of funding, but a skills gap threatens the stability of blockchain development. If developers aren’t available to maintain the platforms’ momentum, this could mean inefficiencies will seep in and weaken the system as a whole. More pragmatically, projects can stall and funds can sit unused or get misused. Ultimately, if…
Cryptocurrencies are gathering speed—there are now over 4,300 cryptocoins and over $500 million was raised through crowdsales and initial coin offerings (ICOs) in the first half of 2017. If you’re feeling a little left behind regarding how this decentralized financial system works, here we break down some of the key terms for you. Quick refresh on cryptocurrencies Cryptocurrency, or digital/virtual currency, operates independently of central…
