Sustainable development and the 17 SDGs are critical timelines to continue living the way earth’s inhabitants have. Blockchain technology can help achieve sustainable development in myriads of ways to impact how resources are utilized for development.
The latest technological advances in blockchain are clustered around what could be called Blockchain 3.0, which focuses on addressing the drawbacks of the previous two generations of blockchain technology, such as scalability and interoperability between different blockchains. This innovation has created many opportunities to solve the most enduring problems that impact sustainability.
Digital Identity:
Personal identity management: Identity management is a cornerstone of governmental services, but legacy data management tools fail to provide secure yet rapidly accessible and updateable identity.
Over one and a half billion people globally lack officially recognized identity. This has been exacerbated due to global dislocation, war, famine, and other natural calamities. It is among the most critical issues facing urban systems. There is a growing crisis brewing in recording, updating, and correcting information about an existing identifiable person.
The latest technological advances in blockchain are clustered around what could be called Blockchain 3.0, which focuses on addressing the drawbacks of the previous two generations of blockchain technology, such as scalability and interoperability between different blockchains. This innovation has created many opportunities to solve the most enduring problems that impact sustainability.
Digital Identity:
Personal identity management: Identity management is a cornerstone of governmental services, but legacy data management tools fail to provide secure yet rapidly accessible and updateable identity.
Over one and a half billion people globally lack officially recognized identity. This has been exacerbated due to global dislocation, war, famine, and other natural calamities. It is among the most critical issues facing urban systems. There is a growing crisis brewing in recording, updating, and correcting information about an existing identifiable person.
- Personal identity management: In essence, Identity management is a cornerstone of governmental services, but legacy data management tools fail to provide a secure, quickly accessible, and updateable identity.
- Data centralized around the user: Personal identity management is an over $12 billion business expected to double by next year. The security, storage, and stealing costs of personal data are humongous.
- Previous solutions failures: There is significant hesitancy about the concerns over privacy and authentication failure of prior solutions.
- Trust in government data: There is also a grave reservation regarding the ability to trust government data absolutely in any situation and in impacting the ability to deliver services in many developing nations.
- The integrity of government data: Data integrity is as much of a problem from inside an organization than outside the entity. It is essential that government data should be effectively protected from an insider threat attempting to manipulate or alter the stored data.
- Data interoperability: The ability to verify the integrity of government data independently of its home database in real-time enables data interoperability between systems and across boundaries.
