Few can doubt that 2017 has been the year in which Blockchain technology has entered the mainstream conscious. As more and more celebrities endorse ICOs and the price of Bitcoin and Ethereum continue to climb all time highs, people are beginning to question whether we’re in a bubble or if in fact this technology has the potential to disrupt industries and realise the valuations investors have created.
Parallels between the dotcom boom of the late 1990’s abound with most independent observers agreeing there are similarities and would caution investors from committing to projects that lack developed technology or have difficulty in understanding. Acknowledging the surrounding hype and need to deliver real solutions and tangible products, Secure Identity Ledger Corporation (SILCsm) has created its very own distributed ledger. SILC offers a transformative consumer based application that enables users to create their own digital token that holds their digital identity. By using unique turnkey technology, individuals can prove their personal data exists without it being passed on to companies that can store it on databases and siloes which are in many cases vulnerable to being hacked. The driving aim of SILC is to create an infrastructure that enables people to trust one another and engage with the digital economy.
In order to realise this aim, SILC developed its own Blockchain that doesn’t suffer the flaws of more established platforms that operate on a Proof-of-Work or Proof-of-Stake basis. These limitations include the ability to scale up operations, energy usage, ease of use, security issues and Blockchain bloat. By creating a Blockchain to their own specifications, SILC can deliver a unique solution for their customers’ needs that isn’t vulnerable to external price fluctuations, security hacks and scalability issues.
SILC has developed a unique set of verified algorithms that enables individuals to prove that information or data exists but doesn’t have to be stored, think of it as “Proof-of-Existence” and for the first time in history people can create a cryptographically secure, unalterable and legitimate Digital ID for controlling how their personal information is passed on.
Secure Identity Ledger Corporation (SILC), is the first ever digital identity platform for every person, business and machine. It recently announced its Initial Coin Offering (ICO) on October 9th, 2017 which is currently ongoing for a limited time. SILC enables consumers and businesses to enter into and be empowered by the Blockchain Age through its scalable, accessible, interoperable, private and secure proprietary Blockchain platform. By developing many applications that disrupt different industries (health, insurance and energy etc.) SILC creates an ecosystem for Blockchain digital solutions.
Products SILC has developed, include the “One Digital IDSM”, in large part as a response to the recent high profile hacks of government and corporate databases, people are increasingly looking at alternative methods for storing and passing personal information. One Digital ID does just that, by creating your own digital token you can add personal information (tax returns, social security numbers etc) and through SILC’s unique turnkey solutions prove to external parties that the information is correct or true without it having to be stored on their databases. The digital token is a cornerstone for the future digital economy and Blockchain age we are entering as it helps secure interactions and data exchanges between people who would otherwise been unable to trust each other online.
Its application can be used by larger organizations particularly in the area of asset management. As supply chains become increasingly complex and international, many participants, from manufacturers to transporters, engineers and operators have their own disparate systems for managing assets. This makes establishment and maintaining a single version of the asset’s lifecycle very difficult, particularly if communication is conducted on paper or even verbally. SILC’s unique Blockchain enables participants to log all transactions into a distributed ledger, to which only authorized participants have access reducing the risk of fraud or supply chain problems. SILC has developed its technology so that it can be used from a mobile phone and contain fingerprint biometrics, symbol drawing, QR codes, and other log-in mechanisms that would guarantee security. All encrypted files are automatically stored on the cloud with unlimited space, enabling users to store all the files and data they submit and access, SILC uses double encryption on each file within the cloud storage accounts so that it can only be shared with authorised users.
The potential disruption of SILC’s technology for established industries is considerable, take for instance the Insurance sector, currently the policies on offer are based on general information such as demographics and location. SILC has identified a time-based solution that allows the average insured customer to compartmentalise his/her insurance needs. This enables people to only pay for insurance for the time they actually need, this can be activated via a mobile device that monitors your usage. Medical records and information could also be stored on the digital token enabling children in developing countries to receive the vaccinations and care they need, in developed countries, the effective storing of data could ensure billions is saved by preventing unnecessary IT costs and hacks.
Although the SILC Blockchain might not be as well known as its mainstream competitors, it opens up possibilities that simply wouldn’t be possible using other platforms that have serious long term limitations. SILC doesn’t operate on a Proof-of-Work basis, this means there are no miners, and validation occurs when users (with verified digital IDs) engage in consensual transacting. Blockchain bloat is no longer an issue due to the system of verified algorithms SILC has designed that enables information to be “proven” without it being stored, in that sense it is truly ‘Decentralised’ and can offer anonymity without compromising record keeping or impacting transaction speeds. The interface has been designed so that anyone, irrespective of their IT knowledge can create their own ID, when they upload their information and data to the SILC blockchain, it is cryptographically hashed, ensuring the integrity and security of the data.
Secure Identity Ledger Corporation has developed a number of products and is in the process of developing many more than could potentially disrupt the way in which data is managed, medical records are stored, property deeds are recorded, energy distribution and insurance is charged. By investing in the SILC ICO, you have the potential to create an alternative vision for managing data and delivering services that could disrupt the way the future digital economy operates. The demand is there and the benefits are clear, help us create this alternative platform.
CLAIM IN AUTOMATION
automated 24/7 freebitcoin
buy your first bitcoin
exchange your coins
Support the community