In today’s world of digital transactions and online identities, proving who you are can be more difficult than one might imagine. Our current systems for identity verification are fraught with problems. They're often insecure, with different levels of trustworthiness, and the threat of identity theft is always looming. Simply put, verifying your identity in the digital age is not as straightforward or as secure as it should be.
In response to this issue, Fortior Solutions has recently applied for a patent (US20230281604A1) that could revolutionize the way we verify identities online, using Blockchain technology and Non-Fungible Tokens (NFTs). They intend to make digital identities more accessible, secure and flexible than ever before, which would streamline our current ID ecosystem.
The most significant issue this patent is trying to address is identity fraud. ID documents' discrepancies create opportunities for fraudsters to produce counterfeit versions. The proposed technology would add an extra layer of protection to personal identities and will make it far more challenging for anyone to create fake digital IDs.
Fortior Solutions' patent details a method of creating digital identities using blockchain technology, smart contracts, digital wallets and biometric data. This digital ID - your online name tag, if you will - is created as an NFT. An NFT (Non-Fungible Token) is a type of digital certificate that verifies something is unique and can't be replaced with something else. In this case, all your personal information and biometric data, such as fingerprints or facial recognition patterns.
Once the NFT is created, this 'super secure digital name tag' is stored safely in a digital wallet, which only you can access. Moreover, one of the features of this new identity system is its adaptability; it can be used across any platform, whether Web2 or Web3, expanding its usability and ensuring it can keep up with the fast pace of technological advancements.
This patent, if realized, could have a significant impact on our digital lives. No more worrying about the safety of your online information; with each ID being unique, tampering with someone's digital identity becomes next to impossible. This will make everything from online shopping, banking to social media safer.
Consider this scenario: Jenny has to book a flight. Using her NFT ID, she can quickly prove her identity, secure her booking and even check-in, all without risking her personal information being stolen or misused. This could be the future of online transactions.
But it's important to remember that a patent does not guarantee implementation; many patents don't see the light of day in the marketplace. Still, the concept of solving identity security issues with blockchain technology and NFTs is compelling, presenting a novel path towards a safer and simpler online ecosystem.
P.S. A reminder that this is a patent application, nothing more. Whether or not we'll see this technology in the real world remains to be seen.