How is Shyft Network solving the internet's identity problem.
12 Jun 2023, 16:35
How is Shyft Network solving the internet's identity problem? šµļøāāļø
Much like our Shyft Veriscope, which helps comply with the #TravelRule, we believe in making digital identity secure and seamless.
To understand that, let's look at the history of identity on the internet.
As the internet evolved, our identity conundrums did too. Each of us has countless usernames & passwords š stored in databases somewhere.
But what happens when these databases are hacked? This happened more often than you'd think in the early days. š»š#TrustinShyft
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Then came the era of big corporations offering one-click logins, seemingly solving our login woes. But did it?
Your data could be sold, or worse, you could be banned or restricted without your knowledge. š®āšØ
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These corporations offered an illusion of security, but data leaks over the years showed us that no system is completely safe.
So, how do we solve the online identity puzzle? š¤
The solution began with the advent of #Bitcoin, which brought the concept of a 'trustless' ecosystem for financial transactions, much like our Veriscope ensuring transparent, secure transactions.
This was the beginning of the revolution that Shyft Network is now advancing. š
That concludes part 1 of our thread.
In part 2, we'll be discussing how Shyft Network is driving this revolution forward, taking Bitcoin's trustless concept further by offering a #decentralized way of verifying credentials.
Stay tuned! š”