The ID Struggle is Real & DID will solve it!
Given that a pretty* secure banking system exists in the world, it’s a little concerning how the same diligence, advancement and investment hasn’t been made by authorities and governments worldwide to secure identity information.
ID fraud, fake passports and fake police officers are a daily occurance all over the world. And let me once again point towards the banks in comparison: their data, transactions and “memberships” are more secure than your Govt’s ID cards. And that’s the truth.
How will DID’s BOCA certificates solve the ID issuance problem:
- For the User: We have a 2-Way trust mechanism. Before you provide any type of ID/data, you get to check the authenticity of the requesting party. We call it BOCA: Blockchain Originated Certificate of Authenticity.
- For the Govt: Finally, a scheme and a way forward. The BOCA certificate has the capacity to provide an authenticated ID request for any department under a Govt/Organisation/Authority.
What exactly is a BOCA certificate?
(Warning! not for the technically-challenged)
BOCA was supposed to be issued like an SSL certificate; now, it has become something totally different. It still acts like an SSL certificate for the blockchain by the way. A BOCA “certificate” is simply an xpub key shared with us/DID-no-profit foundation. Using the magic of hierarchical deterministic keys, all children/paths derived under the key get authenticated. Therefore, the authority needs to register with us with one account and all possible derivations under that key become automatically related.
The BOCA contract in our Beta release is turning out to be a trusted exchange on the Ethereum network. Users simply send encrypted ID nuggets to the contract. The Crypto-unit (implementing on Blockchain results in $1800 txn fee) makes sure that the subscriber’s key falls under the xpub registed with us. The implementaion of HD keys is done by the user and by the ID issuing authority autonomulsy.
Sidenote: There isn’t really a Wikipedia entry for this. We should make one!