Blockchain for Decision Makers by Romain Tormen

Author:Romain Tormen [Romain Tormen]
Language: eng
Format: epub
Tags: COM083000 - COMPUTERS / Security / Cryptography, COM021000 - COMPUTERS / Databases / General, COM062000 - COMPUTERS / Data Modeling and Design
Publisher: Packt Publishing
Published: 2019-09-26T14:44:39+00:00

Hurdles to enlist as a licensee, partly come from the subscription process, which is still paper-based for some federations and time-consuming, especially for people willing to practice several activities. With the combination of dematerialization and a public blockchain, users could easily share more information required to play sports as well as prevent identity theft during events.

For instance, we could subscribe to a specific sport by following a digital process through which we would share personal data and certificates to practice to the corresponding federation. When subscribing for another activity to another federation, we would only have to send our digital identity (their public key) to the new federation, which would look up the blockchain to notice that data has already been approved by another federation.

Such friction would be eradicated through a digital endorsement from the person who authorized sharing personal information by only presenting their digital identity to the new federation. This entire digital and blockchain-based process ensures that data is appropriately shared between entities and that no impersonation happens during sports events.

Not only insurance, banking, and sports industries can solve interoperability issues through blockchain. In fact, any sector in which competitors have converging interests but mistrust each other can rely on blockchains as a layer to make partitioned databases speak to each other without disclosing personal or sensitive information, to answer ultimately the most important problem—catering to the customer's requirements.

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