ID Fraud and a Blockchain Solution.
Identity theft is something many of us know exists but only the unlucky among us have actually experienced. The reality is it is almost too easy for someone to apply for a tremendous amount of money with our lost license, causing many an unjust amount of heartache and pain cleaning up a mess that shouldn’t have even been possible to accomplish in the first place.
Unfortunately, unlike a credit card, a drivers license can’t easily be cancelled or flagged as stolen, the technology while available has yet to be introduced into some countries or states, so you are left with the knowledge your license is floating out there somewhere being used for god knows what in your name. In an article by ABC touching on this very subject, a university professor shares her opinion on the topic, she herself has studied.
“Whilst we can go to the bank and change our credit card details fairly easily, if we think about other identity credentials such as driver’s licenses in some cases, but also date of birth, social security numbers … biometric details that are out there about individuals, they pose significant challenges because they are fixed,” More to the story here
The article went on to explain the hardship with which the victims of ID fraud are left to pick up the pieces after the massive financial debt had been unknowingly taken, built up in their name and left with the consequences. In the same article by the ABC, it listed 2.2 billion per year had been affected by identity theft in 2016 and a shocking $390 million per year for prevention and response activities by authorities.
For 390 million you would think that some of us would feel a little less nervous about identity theft and the fact that any number of us could be the next victim. This is a crime that is never going to stop unless something is done to implement the advancements in technology that are available and ready to use but for some reason have yet to be put into effect.
With the technology available in this day and age, it’s already possible to make it impossible for someone to duplicate or steal someone’s licence, the implementation of such technology would not only cut costs in the billions but would actually make a huge difference in our lives.
The software company VeriDoc Global is already making these strides in action against ID theft all over the world believing that you can change the world one document at a time by helping protect the everyday person from falling victim to the trials of ID theft. With their advanced and revolutionary technology VeriDoc Global has already been able to implement the very solution that many of us need to protect and completely prevent against ID theft in one blow.
VeriDoc Globals blockchain technology will change the way we secure and protect information for the better and as more and more people come to terms with the acceptance of going digital VeriDoc Global will only grow in popularity solving all manner of issues many have had to endure but no longer need to. The solution not only gives us a digital option but also VeriDoc Global can secure the physical license itself. The purpose of the technology to prevent information from becoming doctored or falsified, the technology has expanded to encompass different implementations of the unique and successful software surpassing any standard QR code technology.
VeriDoc Globals patented QR code involves embedding a QR code on an item with a unique digital hash inside the QR code. The hash holds information that is then placed on the blockchain network for security and authentication. The technology allows for VeriDoc Global to customise the storage of necessary information on a blockchain network and tailor permissions and access to any customer. The usual roadblocks like moving states isn’t an issue as it comes with Change of State Technology (CoS) which can be used by scanning the QR code, and adding time and location stamps along with any additional info, such as insurance, registrations and emergency contact information.
To access any required information the customer can download any standard QR code reading app on any smartphone or download the free VeriDoc Global App from the Play or App store, you then scan VeriDoc Globals QR code and received the necessary information. Try it now with the image above.
ID theft and identity fraud are not going away any time soon, and there is nothing worse than that feeling of saving every penny you have and the stress of losing it all. To have it taken from you when there are proven preventatives to this billion-dollar issue would be devastating.
As the world hurtles towards a digital age with all manner of cyber risks, my only hope is that the technology by VeriDoc Global, built for me, to protect me, grows into its potential and allows me to use it to the best of its ability, protecting me from experiencing the same sorrow many have at the hands of the dishonorable.