Blocksensys

Ninety-seven percent of all cyber-attacks target Personally Identifiable Digital Identity (PIDI) data. Large databases containing sensitive PIDI data, managed by the public and private sectors, have been breached, resulting in significant identity theft and monetary loss. The problem persists and continues to grow as the world population grows. Distributed Ledger Blockchain (DLB) technology is an immutable peer-to-peer proof-of-transaction database network system that can resist cyber-attacks on PIDI data by 97%. Additional solutions of value include: lower maintenance costs, lower administrative resources, higher sustainability, and a contact-free method for PIDI data transfer. This technology’s unique trait lies in how it decentralizes PIDI data into a distributed network of ledger copies. This product, currently in the prototype phase, is called the Blockchain Digital Identity Management System (BDIMS). In addition, Blockchain adoption research suggests that, if an end user’s personal beliefs about how they believe their PIDI data should be managed aligns with how Blockchain manages it, then the end-user is significantly more likely to adopt the BDIMS (Sindi, 2019). This is the service side of the business where the Blockchain Adoption Research Framework (Sindi, 2019) is utilized to thoroughly measure the adoption of a BDIMS into a particular context. The application of the BDIMS will be to any type of identification verification and validation process, which may include, but not limited to, voting ballot, refugee geolocation, driver’s license, passport, power of attorney, birth certificate, marriage certificate, divorce certificate, escrow, academic transcripts, social security, and property deed official documentation. The total addressable market is 7.8 billion end-users.