Practical Thoughts on Blockchain and Identity

Overview: Identity on the blockchain can ensure immutability of records. This has the potential to streamline experiences for users and businesses by eliminating unwanted manual checks and middlemen. It also has the potential to improve transparency which can help drive down the need for unwanted government regulations such as Know Your Customer (KYC). Smart contracts can be executed on blockchain networks seamlessly powered by identity. This has the potential to help automate and streamline tasks that are very manual and require middlemen. The increased speed of execution and reduction in costs with lower risk can enable businesses to drive growth by opening new revenue streams that were previously not possible.