A Real Problem % 5,000 #1 $2,100 12% 6% Identity Fraud

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Presentation transcript:

A Real Problem 1 2 3 28% 5,000 #1 $2,100 12% 6% Identity Fraud Legacy Loss Inefficiencies & Costs A Real Problem 28% of passports used in fraud are illegally obtained 5,000 visas rejected in US for suspected links with terrorism #1 way of creating passport fraud is through forged IDs $2,100 is the average price to obtain a fake passport in Europe 12% of Identity Theft incidents occur in airports 6% of Blockchain applications are focused on ID issues

A Blockchain-based Solution to Prove Citizenship For the Government Insert icon here Identity Security The Basics Efficiencies Platform for Government use Secures existing Government ID data bases with blockchain Integrates all related national IDs Also available to immigration agents, law enforcement institutions, among others Revenue stream from governement Key Advantages Vs. Biometric Passport Companies Insert icon here For Individuals Identity Security Immutable Legacy Secure against hacking Simpler ID-issuing and immigration processes Vs. Other Blockchain ID Companies Government-backed Identity Validation Services Coverage Users transition required Increased security, improve database management, reduce operation costs, improve user experience for citizens by reducing time spent in operations

Government's immutable ledger Registration Use case: Immigration User completes registration form via mobile app or web page Biometric information and proof of citizenship is collected at a government office Government validates information Data is encrypted and the hash is stored in the public blockchain Private key is linked to user’s fingerprints User scans fingerprints at immigration checkpoint Application identifies private key that matches fingerprint Entry is recorded on the blockchain User receives authorization to enter the country Only the government has permission to modify ledger but needs the private key to do so. Every entry is recorded (immutable)

Implementation and Proof of Feasibility 0-2 years Year 2 Year 3 Near Future Test Country: Singapore 100% Adoption Launch in two new countries Include all local documents Build critical mass of countries All passports registered n the blockchain Singapore’s success story triggers followers Governments will have a secure way to prove citizenship Worldwide citizens connected through blockchain Start easy and simple Small country with high smartphone penetration Identity Fraud is an issue Blockchain technology is well known Singapore is proof of work Two other countries will join who want to be in the cutting- edge of technology All citizens registered on the Blokchain Straight forward development, easy add-on Expand to visas to improve traveling