Business2Blockchain Identity | Profile & Property Data Integrity
Business2Blockchain’s Identity integration for Profile & Property Data Integrity.
04/05/2020
Currently, certificates and credentials can be forged. Verification processes can be tampered with, fraudulent claims, fake identity, incorrect data capturing, payment infringements and cyber threats are on the increase every year. Now with COVID-19, the figures are expected to increase even more with individuals at home.
“Edward Bishop , chief technology officer at Tessian told SC Media UK that opportunistic hackers are taking advantage of the fact that people are working remotely, impersonating trusted collaboration tools like Microsoft Teams and Zoom to trick people into clicking malicious links to fake websites and sharing credentials.”
None of this is new. Data storage of an individual's identity from birth, through education, and a career path isn’t exactly full-proof secure. Parallel to this is an individual's social data, becoming actually even more important, as it describes an individual's behavior. Harvesting, and or Fraudulently obtaining this data is very valuable.
Equally, Companies Identities and Data workflows through their path from idealization and beyond are generally managed through the best they can afford at the time. Issuing credentials without 3d Party interference, prejudice, or human error is virtually impossible.
I want to introduce 3 entry-level “Golden Rules” when it comes to Blockchain Solutions to your software network. It is important to understand that Blockchain solutions, at this level, are easy to integrate or (“Plug & Play”), because the Product to facilitate this is available from Business2Blockchain. Morne Olivier
3 “Golden Rules” of Data Integrity
§ ID, Profile, ‘Property’ Data Management
§ Verification &
§ Certification
Why? Keep it safe and secure, but transparent enough to see.
Bridging Blockchain Data Profile Integrity
Bridging these three fundamental data aspects, ID, Profile ‘Property’, Verification and Certification Management automates the “Trust” factor with Individuals or companies transparent but Private Data. Issuing and verifying any type of data over a Blockchain Distributed Ledger Technology (DLT), becomes an Agile “Plug & Play” Software Solution, meaning, the introduction of the technology is easy to integrate and use with current systems as a ‘Tool, all be it a very powerful one.
Some industry example use cases include HR, Education & Career Qualifications, Royalty & Licensing, Trademarks, Supply Chain, Retail, Payment & Finance (Loans/Vouchers/Rewards), Invoicing and even Media Files, to follow the chain from Issuance to Access to Verification.
Misconceptions of building customized solutions from scratch is a common concern across corporates. Blockchain Software is an incorruptible digital ledger of transactions that can be programmed to record and verify virtually anything of value and shared globally with anyone instantaneously. Smart Contracts and Ledger Technology, leverage IT Rooms where the introduction of Blockchain, will give Corporates and SME’s the advantage over their counterparts who don’t yet see any value in staying up to date with their Software Solutions.
Product building on Blockchains have come a long way over the last three years, developers actually even set out to build new solutions for current problems, not just fixing old ones. Over the last three years, Blockchain Technology has exponentially grown with adoption into the Fortune 500 now commonplace. One has to also take into consideration where the Internet of Things is headed, Web2 — Web3, Centralized — Decentralized, Blockchain — Quantum computing, and that these movements will definitely affect you as a person and company.
Companies using Blockchain
What is feasible to note here is how Corporates Globally are integrating their systems, and generally speaking, their mythologies get pushed from the top-down, meaning if you have a look at the list and your company is somehow involved, you can be sure you will have to use Blockchain Technology in time to come. In my 3 “Golden Rule” for integration, in other words, an easy place for you to start integrating Blockchain solutions without it costing over and above normal Software improvements, ID, HR Management, Verification, and Certification processes stand out, as they are Pro-Active in improving time and costs.
The Blockchain Process:
Issuing Documents:
Documents are uploaded, certificates issued, verified with Blockchain Anchoring, and shared back to the recipient and or 3dParties.
Receiving Documents:
Recipients get access to a dashboard linked to a Blockchain DLT where their information data, (credentials/records) are validated and securely managed.
3d Parties:
Leveled access is predetermined where documents can be downloaded or shared from the Integrity of the Blockchain Platform.
Platform Customisable Dashboards can include:
Customized branding and template design, Encrypted chat, Social media share, Calendar integration, Full credential tracking, Email integration, Annual License, and Data capacities.
By Individual or Company Profile upgrading to Blockchain DLT, you are just handing over the paperwork and mundane workflow processes to a software ledger to do. You are therefor cutting time wasted on unproductivity and saving costs, capital that could be spent in strategic growth areas.
Here’s a summary of Blockchain Solutions in 2 core areas.
1) Education, Career & HR
Problems:
Incorrect data processing of educational facilities during intake, directly correlated to an increase in applications and workflows. In contrast, data shows a decrease in administration and software capabilities over the last few years.
Fraudulent faculty results with social pressures can quickly turn into forged certificates or verification processes being tampered with.
Solution:
Educational Organisations can now Enrol and Issue Credentials on Blockchain DLT’s. The capabilities extend to Qualification, Contracts, Invoicing, Trademarks, Pictures and Media Files, eliminating fraudulent claims or fake credentials.
Being Agile, the solution provides for an all-encompassing engine or integration into current platforms, all through easy UI Dashboards and Interfaces.
This basically means you set up your profile on a Blockchain and would never have to be questioned again about the Integrity of your ID, the Certificate you earned, or the position you came from. In addition, the data that you accumulate on the Blockchain belongs to you, unless you provide levels of interoperability.
2) Royalty, Licensing & Trademark
Problems:
The Music Industry is an obvious place to start. Royalty Administrative irregularities, 3d Party involvement, transparency, and consequently, ISRC Codes not picked up by current software platforms.
If you are an active musician, and you have music playing on radio or TV, restaurants & shops, jukeboxes, performing your own music at events/concerts, have recorded or performed songs that you’ve written, helped write someone else’s song, or you performed on their song, have CDs that are selling in music stores, or getting streamed on Apple Music, Spotify & YouTube — This is for you!
Patent Licensing Royalty rates are a percentage of the gross or net profit made on each sale of a product. Generally, a royalty is provided between the inventor (the licensor) and manufacturer, publisher, agent, or distributor (the licensee).
The Comparable Market Approach in other industries:
If this approach is used, the royalty rate is based on the royalty offered by others in comparable industries. The flaw in this approach involves the inability to identify reliable data that can truly compare similarly situated deals. Examples of average royalty rates by industry are as follows:”
“Aerospace, 4%, Apparel, 6.8%, Automotive, 3.3%, Chemicals, 4.3%, Computers, 4.6%, Construction, 5.6%, Consumer goods, 4.8%, Electronics, 5.1%, Energy and environment, 8%, Health care equipment and products, 6.4%, Industrial goods, 6.4%, Machine tools, 4.8%, Pharma and biotech, 6%, Software, 9.6%”
Currently, service providing functions are performed by Legal Associates, which add to the costs and time factor. Breaking this down basically means there is a % due to the creator and or ‘sales’ middleman, but by introducing Blockchain DLT, besides the Verified Documentation, Smart Contracts are able to distribute the correct values amongst the parties, taking a huge chunk out of time and cost management.
Solution:
Blockchain is a trust engine with a shared, immutable, and transparent ledgers. The data history is visible for anyone, including authorities, the risk of errors is reduced, and discovering errors is increased. Automating data workflows in the Music Royalty industry, for instance, ensures data is not misplaced, and transactions are automatically processed for anyone to see. With Smart Contract as an added value, transactional automation is further enhanced, making the product very unique.
(ROI)
Blockchain benefits of increased efficiency, automation of certification, borderless workflow, increased security, and trusted reliability speaks for itself.
In Conclusion
Remember Blockchain as an Agile Software Solution, so it can be installed and used like any other system, with very easy straightforward functionalities on the UI/UX. In all of these Industries, the Blockchain DLT solution applies, and reiterates the 3 “Golden Rules” that will save you time and money!
§ ID, Profile, ‘Property’ Management
Load your Individual or Company Profile onto a Blockchain and take charge of your data. Saving time, paperwork & costs. Providing Automated Workflow and Finance integration.
§ Verification
Data is Verified by the Blockchain process by a cryptographic Hash function after Nodes on the ecosystem verified the content.
§ Certification
Proof in the form of Certificates or any other format individual to your needs is provided through an automated process allowing you seamless background scalability. Introduce Smart Contracts to scale the automation workflow and transaction processes.
Let me know if I can assist with any consultation
Personal Disclaimer:
My company Business2Blockchain Pty Ltd. Consults, Assesses, Integrates and Implements Blockchain Solutions
Business2Blockchain Pty Ltd. Summery
Blockchain Digitization Solutions
Security Token Offerings (STO), Digitizing Equity, Bonds, Mining & Real Estate, Royalties, Trademark & Licensing
Blockchain Management
Scale Profiles by Automated Verification & Certification on Blockchain Technology: Proof of ID & Profile Path, HR & Consultancy workflow streamlined
Blockchain Software Solutions
BaaS Full stack development, Any Project, Anywhere. Public, Private, Federated or Hybrid Blockchain Solutions
Blockchain Software Integration
SaaS/BaaS Full-stack Integration & Implementation for Data, Commodities, Healthcare, Supply Chain, Retail & Environmental
For any further information: morne@business2blockchain.com
Besides the obvious, “asking Google” how to secure your IP address and or VPN service and updating your favorite anti-virus platform, I can recommend Kaspersky Anti-Virus software which you can download from my trusted link here:
E-CERTIFICATE IMAGES Courtesy of Andrei Lipkin
Infographics: 101 Blockchain
Reference
Thank you Neira Jones for the share “Edward Bishop , chief technology officer at Tessian told SC Media UK that opportunistic hackers are taking advantage of the fact that people are working remotely, impersonating trusted collaboration tools like Microsoft Teams and Zoom to trick people into clicking malicious links to fake websites and sharing credentials.” Looking forward to hashtag#blockchain ‘plug-in solutions becoming more readily available for your ID, Profile integrity
- Nevada Department of Education: 29/04/2020
“That means 102,192 students — or more than 31 percent of the total — were unaccounted for during the week. Teachers and administrators have reported that incorrect contact information has been a major reason that missing students could not be reached.
Fraud, directly correlated to faculty results
- ‘Rigged system:’ Critics say U.S. college admissions scandal highlights myth of meritocracy
https://globalnews.ca/news/5053283/college-admission-scandal-meritocracy/
- How to get paid the royalties owed to you in South Africa
- Music Industry
https://www.coindesk.com/alibaba-patents-blockchain-system-that-spots-music-copycats
- Patent Licensing Royalty Rates: Everything You Need to Know
https://www.upcounsel.com/patent-licensing-royalty-rates
Student Aid Fraud: Red Flags
https://i-sight.com/resources/student-aid-fraud-detection-prevention/
2020 Identity Theft Statistics
https://www.consumeraffairs.com/finance/identity-theft-statistics.html
Glossary
Agile software development comprises various approaches to software development under which requirements and solutions evolve through the collaborative effort of self-organizing and cross-functional teams and their customer(s)/end user(s).[1] It advocates adaptive planning, evolutionary development, early delivery, and continual improvement, and it encourages rapid and flexible response to change
“Integrity is the practice of being honest and showing consistent and uncompromising adherence to strong moral and ethical principles and values. In ethics, integrity is regarded as the honesty and truthfulness or accuracy of one’s actions.”
Cryptocurrency vs Token
A Cryptocurrency like Bitcoin or Ethereum is independent of its platform, which means they can be used outside of their environment in transactions.
Tokens are usually built on native Blockchains like Bitcoin or Ethereum as a vehicle or utility for companies to issue ICO’s or have an internal form of the transaction value.
Security Tokens
In a traditional sense, securities can represent an ownership position in a publicly traded corporation, a creditor relationship with a governmental body/corporation, or rights to ownership as represented by an option. A security token is a tokenized, digital form of these traditional securities.
