What Is Bloch Exchange?
The concept of establishing and communicating identity has been fraught with problems for a long time, and with existing infrastructure in most areas of the world leaving a lot to be desired, there has always been a growing need for proper, efficient identity management solutions that can harness the power of newer technologies, and provide users with a robust, flexible solution that can see different applications.
Finding the right technology that can help leverage an identity management platform can be a tall task, and Bloch Exchange has attempted to accomplish this by creating an identity management platform that makes use of blockchain technology and one of the most popular and enduring digital currencies in the world, Ethereum. This is a solution that has the potential for massive levels of adoption, and the world is already waking up to the advantages of Ethereum-based identity management thanks to the efforts of companies like Bloch Exchange.
Bloch Exchange Features
One of the most enduring problems that individuals and business entities have to face globally is the problem of establishing and maintaining identity, and traditional methods have their limitations. Being able to prove one’s identity is something that has long come under fire, either from opportunistic business entities looking to create revenue streams or from authoritarian government bodies.
The systems in place, in many cases, are inadequate in many ways, and in this modern world of advanced technology, there is no reason why this sphere should not benefit from innovation. The solution that has come to the fore in this regard is the power and effectiveness of distributed ledger systems, and using this technology, companies like Bloch Exchange have started offering customers a better way to achieve efficient identity management.
Ethereum-based smart identity management platforms can be a major force in the future, and with the current efforts of Bloch Exchange, who are already integrating this service into their own real-estate based investment opportunity business, the realm of possibilities can be endless in the future.
Using blockchain technology and decentralized, distributed ledger systems does indeed have a lot to contribute towards creating that perfect identity management platform, and this has been clearly demonstrated by Bloch Exchange. A system like this is mainly based on three key components – identity creation for individuals, identity creation for institutions, and analytics tools that help is all come together.
Using blockchain technology in this regard gives both individuals and institutes a lot of power when it comes to creating and managing their identities, including full control over who they want to share their identity with.
Bloch Exchange Ethereum Contracts
The way Bloch Exchange provides identity management solutions is by making use of one of the most popular digital currency platforms in the world currently, Ethereum. The central idea here is to use an Ethereum contract as the basis of storing relevant information. The empty fields of an Ethereum contract are populated with relevant information, which can include things like birth certificates, passport details or institutional certificates.
From that point onwards, the hash of that Ethereum contract can act as the identity of that individual or institute. This can provide more power to those wanting to manage their identities more securely in a personalized manner, and can also provide authorities and regulatory bodies with the power to integrate this system into their existing infrastructure.
Overall, Bloch Exchange has managed to come up with an identity management solution that has multiple applications across multiple use cases. Bloch Exchange has already demonstrated this by integrating this system into their own real estate investment platforms, and the possible applications can be myriad.
With a newer, more technologically powerful system of identity management, many of the hurdles that plague existing systems can be overcome, and through the use of an enduring digital currency platform like Ethereum, Bloch Exchange has attempted to provide a solution that can not only stand the test of time, but also remain relevant in the long run.