Armin Ebrahimi – ShoCard – Inverting the Ownership of Identity for Fast and Secure Identity Verification
Finding Genius Podcast
Richard Jacobs
4.4 • 1K Ratings
🗓️ 29 March 2018
⏱️ 37 minutes
🧾️ Download transcript
Summary
"If you think about it…everybody else owns our identity and different data sets about us…from your employer…to your bank, to Facebook, to Google, to any service that you have a username and password for that stands as your identity…if any of the personal data that you have with them is breached, you don't have any control over it because they become the gatekeepers of it. The idea with ShoCard is to invert that," says Armin Ebrahimi.
As it stands today, there are four ways to authenticate yourself with different financial services, none of which are very secure or simple. In addition, every time you open an account with a different financial institution, you are required to go through the process of re-entering all of your personal information; this poses a security threat to you, is costly for the financial institution, and is time-consuming for everyone involved.
ShoCard is working to integrate blockchain and mobile technologies to invert the ownership of identity, which will eliminate these issues by allowing individuals to maintain control over their data. Rather than creating a new username and password for each account, users will be able to have their identity verified on the blockchain. This means that once a bank has identified and established a relationship with a customer, they can create and share that certification with other banks on the blockchain.
Interest in ShoCard is increasing, and they are already doing pilots with a few financial institutions in the US. In addition, they recently launched a project with the European-based multinational credit reporting industry, Creditinfo. Tune in to learn more.
Transcript
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| 0:00.0 | Welcome to Almost Here, Around the Corner of Future Technology Podcasts with Richard Jacobs. |
| 0:07.6 | Future technologies are always to transform our lives for better or worse or the focus of this podcast. |
| 0:13.3 | Almost here means these technologies are now here and starting to be used. |
| 0:17.8 | We're just around the corner, from Bitcoin to artificial intelligence, 3D printing, blockchain, virtual reality, and more. |
| 0:32.2 | Coming to Dallas, Texas, September 14th, 15th, and 16th, 2018, the Blockchain and Future Tech |
| 0:39.5 | Expo. |
| 0:40.6 | This is going to be a gigantic conference of over 5,000 people. |
| 0:44.7 | We're going to be talking about blockchain and its applications. |
| 0:47.6 | We're going to be talking about quantum computing, cybersecurity, artificial intelligence, |
| 0:52.0 | and several other future technologies that are poised to and |
| 0:56.4 | actually changing our lives as we speak. Here's why you should attend. As you may know, |
| 1:01.7 | early adopters are the ones that investigated and profited from things like the gold rush |
| 1:06.7 | in the 1800s, from the dot-com boom in the 1990s, from the internet boom in 2005, from the |
| 1:13.5 | smartphone explosion in 2007, from the real estate boom that ended in 2008, and of course, |
| 1:19.5 | from the Bitcoin boom that started in 2012. Early adopters act now, they don't wait until |
| 1:25.0 | later. They go out west first and they're covered wagons. They |
| 1:28.4 | find the biggest gold nuggets. If you consider yourself an early adopter and you want to find |
| 1:33.5 | the biggest nuggets, then you owe it to yourself to attend this upcoming conference. Blockchain |
| 1:38.2 | is going to affect how we control and store our medical data, how we send money around the world, |
| 1:43.9 | how we bank, and more. |
| 1:45.8 | But artificial intelligence, quantum computing, and cybersecurity will play a pivotal role |
| 1:50.7 | in our lives as well. |
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