Especially with everything that has been going on with Facebook’s legal troubles in the fallout of the Cambridge Analytica scandal, consumers all around the world have been rethinking about the relationship between our personal data and the companies that we hand it over to. As it turns out, big corporations that we have been trusting this whole time have been providing our private information to not-so-altruistic actors – without our permission.
It is in this environment that, thanks to blockchain technology, a lot of innovations are being developed that are geared toward keeping data decentralized – and free from tampering by third parties.
But our personal data, like our birthdates, social security numbers, fingerprints, and any other highly-sensitive data that we allow big corporations to hold on to, needs to be used for different reasons and in a ton of different locations – how is that kept secure when everything is so disjointed?
BaaSid (BAS) is currently working on an upcoming blockchain-based ecosystem where our basic personal data can be kept securely and retrieved without risk instantly, putting to rest all of our worries about what big-time companies are doing with our information.
What is BaaSid (BAS)?
Even in the blockchain world, 3rd party certification institutions and database operations are needed in order to identify people properly on the blockchain. Our personal data, including a ton of stuff we wouldn’t want getting in the wrong hands, is just sitting in databases (DBs) somewhere – leaving them vulnerable to hackers and other malicious actors. On top of that, just logging into sites these days involves so many steps and passwords/verifications, which need to be put up in order to protect their users.
That’s why BaaSid (BAS) is working on an upcoming, simple solution to allow identity authentication without putting our private data onto a separate centralized server – which is where we are stuck nowadays.
BaaSid (BAS) is a totally decentralized DB network constructed with blockchain technology that allows for instant ID verification, thanks to smart contracts that enable each one-time use. It will basically be fast way to safely confirm our identities online without all the security threats and complicated steps we have to deal with now.
How does BaaSid (BAS) work?
The BaaSid (BAS) takes all of its users’ data and splits it up into a bunch of tiny pieces, spreading it out across the entire anonymous network – which every user is a part of. That means that your data pieces can be retrieved temporarily in an instant, but it won’t be saved or leave the original data on any one server in the network. It just floats around the network completely shattered, and only authorized users can use it.
The coolest thing about this soon-to-launch cryptocurrency project is that BaaSid (BAS) will let us be able to forget all our passwords, usernames, complicated ID numbers, etc. – because any and all of our personal data will be instantly accessible on the network.
No more fumbling through old emails trying to dig up a password you forgot – or endlessly changing your password each time you forget.
It seems like a pretty cool platform that a lot of people would be happy to use – something that could save us a ton of stress and worry in our day-to-day routines, since we sign in and out of accounts throughout our personal and professional lives.
It’s also a lot safer than a centralized password keeper that’s available these days.
Interested in this project? Check out their Telegram group.
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