FinGurú - Digital identity: How can you change your day to day today and in the future by undefined

Identity is essential for the functioning of a society and its economy. Currently, our identity is built and verified in two domains: physical and digital. In the first, it is the State that validates who we are, while in the second, it is the social networks that serve to corroborate who we say we are.In this note we will address the problems of identity, and discuss what we believe is a overcome solution: Proof of Humanity.In the physical world, we have a unique identity that we have built throughout our lives, whose last validator is the government of our country. The verification of our identity depends on a centralized entity that emits carnet with our data, the DNI, for example. This presents a number of problems such as accessibility, false identities and lack of security inherent in a centralized database.As for accessibility, if you lose your DNI, for the time you take to get it back (run from days to weeks according to the place of residence), you also lose the representation of your identity for everything that requires verification. It is true that thanks to App Mi Argentina, we can have all our documents scanned and save us these problems, but this only applies to useful users with their smartphones leaving aside much of the population. Still, the only official way to verify our own identity remains unidirectional because it is through the app in which the state-centered database is accessed and verifies its identity before a third party. If you’re going to create a bank account you don’t reach with being a human, you also need to take over your ID, which even when being physical is also falsifiable.Finally, it is worth pointing out that government databases are the main goal of hackers across the world, sounds incredible, but it becomes increasingly common to hear databases from exposed countries. Some examples of the last time are the internet casualties of North Korea, the exposure of anti-government phrases in public parking lots in Russia and the recent hack of App Mi Argentina along with Renaper.Given all these problems, wouldn't it be ideal to verify the identity of one through a transparent, decentralized and secure system where anyone can access through a link and have international validity?Our other identity is digital. When we want to identify ourselves before a person, or even a company, social networks are used. Instagram, Facebook, Twitter, Youtube, Linkedin, etc. In this way, anyone can access their public data by one click, thanks to the internet. The problem here is that you can create different identities in each application or social network and model the taste of one. This leads to the creation of false accounts, bots or multiple accounts to take advantage of the benefits of companies that give promotions or obligations per single user/count. The improvement of artificial intelligences nowadays can have a catastrophic result if it cannot create a secure and decentralized system of universal digital identities to distinguish between humans and bots.Each of these abuses has its dangers as embodying another human, generating unnecessary costs for companies, possible cyber attacks from various bot accounts to manage blocking real and legal digital identities (such as political activists or competing companies) but which pose a threat to shift power endangering human rights as freedom of expressionOn the one hand, in the physical world we have the difficulties and slowness that leads to data centralization. On the other hand, the problems that arise with the creation of multiple identities. Having a unique and affordable digital identity is the answer to many of these problems, thanks to Blockchain and an Argentine developer are creating the foundations for success.Santiago Siri is the founder of Democracy Earth, a non-profit organization supported by Y Combinator, developers of Universal Basic Income (UBI) in Ethereum and the Proof of Humanity protocol. This protocol not only solves the problems of identity in the digital age, but also provides new uses for it.It works as a decentralized network of profiles that are associated with a virtual portfolio in ethereum blockchain.

What does this mean? Superficially it is seen as a page where each one rises a test of his humanity: a record of his face in image and video format associated with his virtual wallet.
A virtual wallet or wallet is one of the fundamental tools of the blockchain system, which allows people to create their own virtual bank where they will store, send and receive different tokens (also known as cryptos). These moves have no middlemen (traditionally fulfill this role the banks), you are the only one with power over your wallet, about your money.
What role does this tool have? It is the bank of the future, or rather the way to exchange money from the future, the banks would be obsolete in the event of their worldwide implementation.
As mentioned : " Blockchain technology allows ‘organize the data in encrypted form and make them circulate safely by public networks... In addition, your project allows you to provide accessibility and quality of service anywhere, as you use the Internet for your routes. Block-chain chains, in addition to the algorithmic logic used, will occupy a fundamental space in people's lives in the coming years, as it allows to distribute unique and valued documents securely within an open and low cost scope[internet].

So, being the means of exchange of future currencies it becomes crucial to have a yellow page that adheres to an identity to these wallets. Today you can have a hundredtas, up to thousands of own wallets and at the same time anonymous, this is part of the benefits of blockchain. What is sought is to associate even if it is a virtual portfolio to your identity and become your digital ‘passport’.Having this decentralized profile network, Proof of Humanity, will work to eliminate the creation of dual profiles and bots by connecting your database with any online company, so you can only create a profile if you are already in the PoH registry. Imagine any social network, there would be no fake profiles, no bots could be used to denounce legitimate profiles or publications, but problematic for some, thereby reducing content repression and increasing freedom of expression. Imagine the benefits for online sales companies that lose thousands of dollars in promotions to capture the first customers, but these customers are created multi-accounts to take advantage.Imagine a nation where everyone could faithfully and transparently verify their identity, we could finally develop a reliable electronic voting system. These are just a few examples, opportunities are endless.Let us stop talking about the future, today PoH is growing and is changing the lives of many. Its most important use is undoubtedly the development of the protocol that allows to experiment with a universal basic yield program, known as UBI, in its English acronym.This is a form of social security system in which all citizens or residents of a country regularly receive a sum of money without conditions provided by the government or another public institution. The system seeks to cover the entire population with a guaranteed income outside their working, economic or social conditions. An income that allows basic survival month by month, guaranteed by the State.It is not only a socialist thought, but also supported by many capitalist thinkers like Milton Friedman. Experiences were made in small cities in Canada and found that it is cheaper for the state to give people directly money to provide services like public hospitals, and at the same time it is better for people why giving them the opportunity to decide what to do with their money.On the other hand, ensuring basic income to people allows humans to get out of poverty and use all their time at their disposal. We hope that this will create new ideas and we can create a better future. In a world where automation and job robotization is more common, the UBI becomes more and more necessary.Since PoH take advantage of the security and transparency of blockchain to provide decentralizedly to all those described in the 1 token per hour program: 1 UBI. At today's values, any inscript is receiving approximately $50 a month. Although it does not cover basic needs, it means help for almost 15,000 people from around the world, all ages that are noted to live better. For more information PoH can visit your site and find on your Telegram channels a fantastic community that would help them throughout the process.

3/10/2022 - technology-and-innovation

Digital identity: How can you change your day to day today and in the future

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