Cryptocurrency News

The Future of our “Digital Identity” Depends on How the Government’s Blockchain Adoption Unfolds

Recently Joseph Weinberg, a prominent figure in the crypto ecosystem wrote an article on TheNextWeb highlighting the government’ role in adopting and protecting hyper-connected technologies such as blockchain and IoT.

An early investor in Bitcoin and director at Coinsetter until its acquisition by Kraken FX in 2016, Joseph Weinberg knows his way around the digital currency world. Presently, Joseph is the Chairman of Shyft; the leading creditability network, which leverages an open and unified blockchain framework to achieve greater standardization and efficiency in regulatory compliance and due diligence mandates.

Joseph is also the co-founder and CEO of Paycase, A universal platform company that enables individuals, businesses, and financial institutions to connect to the Internet of Value for the purpose of cross-border settlement and remittance.

His diverse experience also includes business development roles at both Xtreme Labs and Pivotal Inc., where he worked on building some of the largest mobile applications currently in use around the world today.

With these credentials and his involvement in policy making, he says that we have to understand how blockchain transcends nations. We have to look at organizations like the OECD that started with a goal to

“have the leaders of dozens of countries collaborate and work together to build Europe all while balancing the interests of industry, civil rights, and wellbeing, and government.”

He thinks that since the fall of Nazi Germany, a lot has changed and that we live in an interconnected world now.

He demonstrates this point by pointing to the example of the Facebook Cambridge Analytica Scandal or the Google leaks to show that the number of people affected by these events calls for some sort of oversite committee. Based on these patterns, he made 3 predictions.

The first one says that by the end of 2019, he expects 13-15 countries sign up to some sort of universal regulation. The second one is that a lot hangs on the regulation of permissionless and permission of blockchains and distinguishing between the both. The third one being that the interconnect Digital IDs can be used to enhance services between the countries.

It is yet to be seen how governments regulate cryptocurrencies and blockchain services, however, the anthropological points made by Weinberg still holds and might be the future of our digital “identities.”

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