Hacks seem to be showing up in the news right and left. A hack is an intentional attack on a system to get access to private information that the attackers are not supposed to have access to. They can be carried out by a single person or a group of people. Some hacks require skill, and some not so much. The best route of action for cyber-attackers, though, is looking for weaknesses in systems so they can be exploited—a weakness resulting from human negligence. It’s information that is left unsecured enabling third parties to see it if they wanted to. What kind of data a hacker wants and what he or she wants to do with it will generally define who their lucky victim is going to be.
As data breaches are becoming more and more prevalent it’s hard to not become immune to them. Companies we know and trust are getting hacked right and left and, for many, it seems like there’s little we can do about it besides become a hermit and take ourselves off the grid entirely. But, that’s not the case and it’s poor judgment to ignore the possibility of hacks. While data hacks are increasing frequency in North America, there are some things you can do to keep them from affecting you or at least lessen the blow.
Blockchain is more than just a buzzword. It’s already being used to solve real-world problems in a number of industries. But how does it work? In this article we explain what distributed ledger technology and blockchain are. We also explain how these technologies work to keep data secure, create sovereign identities, and streamline KYC processes.
When looking at the early history of blockchain, controversy has loomed at times. This is especially evident with issues surrounding cryptocurrency. ICO fraud, failed blockchain projects, and the so-called bitcoin bubble of 2018 have all acted as major obstacles to the adoption of blockchain technology itself.
Globally, the amount invested in ICOs (initial coin offerings) for blockchain companies has increased by over 400% since 2014. With more and more blockchain companies launching and growing awareness of the benefits of using blockchain, more people are looking to invest in these innovative companies.
SingleSource is a decentralised identity protocol and risk scoring protocol (“SingleSource protocol”) that draws on the key principles of a self-sovereign identity, solves the problem of trust and enables global interoperability between various platforms.
Proving one’s identity has long been an important part of establishing and maintaining access to essential government services and economic opportunities.
In this article, we’ll discuss the various reasons why blockchain is needed as a solution for both rich and poor citizens from around the world. We’ll also look at how the creation of a digital, blockchain-based identity benefits citizens and the overall global economy.
The SingleSource team is buzzing after returning from our time in Tokyo at the Japan Blockchain Conference! Aaron, Ollie and I had the opportunity to meet lots of passionate people creating innovative applications in the blockchain industry, and lots of people interested in seeing what can be done with the technology. We also showcased the SingleSource product publicly for the first time, and have since received some really positive feedback from consumers and investors alike.
Innovations in blockchain technology have already begun to change the way the global economy works. Blockchain not only allows for the creation of new digital currencies but also vastly improves the future of consumer protection.
In this article, we feature four major consumer benefits created by the development and adoption of blockchain.