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Digital identification: the pros and cons of the rejection of anonymity
Material posted: Publication date: 01-09-2017
In today's world of digital identity is a commonplace. Even such conservative organizations as the national governments are joining the trend of digital identification. Some countries, such as Estonia, Japan and even India now are attempting the introduction of digital ID for all its citizens.

For example, the Estonian smart ID card produced since 2002 and serves as a tool for identification in the entire European Union, and AADHAR is a 12 digit unique identification number assigned to all citizens of India based on their biometric and demographic data. However, at the beginning of this year, the desire of state structures to follow the innovation has already led to disaster at the local level, once again confirming the fact that the storage of critical data gosuchrezhdenijj is a bad idea. In may this year, Indian Center for Internet and society warned about what state the database was leaked 135 million AADHAAR numbers. This database is the largest biometric database in the world, as it contains the data of over a billion people.

According to the report, the leak occurred as a result of the attack and not due to the presence of some vulnerability in the system. The blame for the incident lies with the government departments that manage this huge volume of data. The result of the leak numerous cases of financial fraud using fake digital ID.

On the one hand, digital identity and organizations quite naturally fits the concept of the digital economy and jurisdiction. However, now the dark net is now a booming market of private information where compromised critical data of all types can be purchased for a few Satoshi. According to Forbes, the market for compromised data by 2019, will grow into an industry worth $2 trillion.

2017 began with a round-up of the Commission people's Bank of China on the largest cryptocurrency exchanges of the country. In the course of a long, meticulous inspections, exchanges were forced to significantly limit its activity, triggering a short-term depreciation of bitcoin. A month later, the people's Bank of China has allowed exchanges to resume work, subject to the introduction of compulsory identification of users, in accordance with the standards of KYC and AML. Almost all American cryptocurrency exchanges require users to undergo compulsory identification, at least if we are talking about large sums.

Not being able to control powerful streams of cryptocurrencies, the governments of various countries, predictably, resort to the only possible measure of impact, trying to take control of points of entry and exit of money from the cryptocurrency space, ie, exchange, services, exchange, Bank accounts.

These limitations, more recently seemed such illusory in the background of the rapid development of cryptocurrencies suddenly became very real.

In the digital jurisdiction of the future will surely present numeric identifiers for both individuals and for businesses, and this trend has its positive and negative sides. In order to give legal status to the legal approval of digital rights and the methods for their protection, must be tied to identifying information.

In this situation, again we can turn to the unique properties of blockchain, in order to develop a transparent and secure solution that will ensure the safety and consistency of critical user data.

Utilizing the innovation of the blockchain, the project Jincor building a platform for secure b2b interactions gives companies and individual entrepreneurs a service of digital identification. These digital IDs will be the basic elements for good functioning of the corporate players in the digital jurisdictions of the future.

Companies seeking to use such advantages of blockchain technology like cryptocurrencies and smart contracts that are in dire need in the legal field, and hence in the identification procedure.

Digital identity is a key element for building trust in decentralized environments, decentralized solutions for user authentication have become a popular direction of development of blockchain lately. One of the most outstanding decisions in this area offers a Civic project, started by the founder of Gyft, a venture investor and a blockchain-star Vinnie Lingham.

Application Civic looks and works like an electronic wallet, but instead of money it stores personal data, allowing the user selectively to share them.

“Civic assures the personal data and stores them on your iPhone so that only you can use or view this information,”— says Lingham.

A decentralized approach to storing identifying data provides a link between the real world and cybercommerce, according to the web site of the project.

Blockchain project Jincor appreciates such innovative approach at this stage, considering the possibility of integrating the solution with the Civic platform, in order to ID a specific user can be associated with the ID of the organization he represents.

Digital ID within the blockchain ecosystem Jincor will also be the guarantor of responsible behavior of participants in case of disputes. In one of our previous articles we described how will be arranged decentralized system of arbitration in the ecosystem Jincor. In that case, if companies use the smart contract for the transaction, for each party, it would be reasonable to envisage ways of resolving disputes in the event of a dispute. Regardless of the type of contract, disputes may arise as in the digital world and real world, and the blockchain contracts is no exception. In the framework of the blockchain ecosystem Jincor, smart contracts will be available only to verified members.

Service digital identity has the potential to accelerate the deployment of blockin solutions to the corporate world, however, ensuring the safety of important data. For all of these reasons, Jincor can become an ideal platform to adapt the corporate world to the realities of cryptoeconomy.

ICO Jincor

Jincor, decentralized platform for business-to-business interactions, is currently conducting a campaign pre-ICO, with the aim of raising funds for further development and entry into global level.

At the stage of presale investors have the opportunity to purchase custom coins platform, the JCR, with a discount of 50% from the value they will represent at the time of launch ICO, 1 Nov.

Tokens JCR will in future be required to make full use of the platform. Despite the fact that the basic functionality of ecosystems Jincor will be free, some options, including the opening of the enterprise of the cryptocurrency accounts, signing smart contracts, financial instruments (letters of credit, collections, overdrafts, factoring), as well as arbitration, are available to participants for tokens JCR.

The key to future growth in the value of the token JCR is the limitation of their proposal: one time we produced 35 000 000 JCR tokens and no further plan to conduct an additional issue. At the same time, the demand for tokens JCR will continue to grow, as they are a means of payment for the use of the most important functions of the platform. Thus, according to the basic law of supply and demand, the price of tokens will grow as the demand for them will increase, and the supply remain unchanged. The growth forecast for the token JCR regarding the number of companies on the platform can be seen in the figure below:

 

When calculating the equilibrium prices of the JCR used the following input data:

  • Number of companies 2 years: 20 000;
  • The average number of staff: 150 people;
  • The average demand of a single organization in the JCR tokens: $750 per month;
  • The full cycle of trafficking JCR: 3 months;

The offer token in an active trade: 25% (based on trade statistics of ETH, for more details see statistics Etherscan).

The equilibrium price is the price, the volume of demand which is equal to the volume of supply.
Thus, the equilibrium price of the tokens is equal to JCR:

20 000 (companies) * $750 * 3 / 35 000 000 JCR *25% = $5,14

These calculations are just for data and 4 years. Balanced token price: $of 12.86.


Source: https://geektimes.ru/company/jincor/blog/292401/


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