Bitcoin blockchain and the Distributed Ledger Technology or DLT have brought the revolutionary change in the financial sector and world economy by transforming the traditional financial transaction through digital cryptocurrency transactions. If you are interested in bitcoin blockchain investment, contact Paychain for necessary assistance.
Until now, the blockchain, as well as the DLTs, have been confined to bitcoin transactions. But the experts have already started utilizing the DLT and blockchain technologies in industrial and business sectors for greater transparency, safety and security besides other tracking and monitoring benefits. Going beyond these, the DLT and blockchain technologies also have other progressive implication, which is already proved by the combined efforts of Microsoft and Accenture who have partnered to work out a new venture by using the DLT and blockchain technologies. The venture is working towards creating a blockchain solution for universal identification of refugees which they can use across the international borders. Therefore, the innovation used in bitcoin blockchain and DLTs is moving from the financial sector to business and industrial development, and then to the crisis of refugees.
The Microsoft and Accenture have jointly announced that they will work in a partnership to use the DLTs and the blockchain technology to give a legal form of identification for the entire masses of 11 billion refugees around the world.
The Microsoft and Accenture worked out a prototype which taps the blockchain capabilities of Accenture and put into the Microsoft Azure. The tool uses the biometric data of the people like fingerprints or iris scan in order to unlock the record storing blockchain technology and further create a legal identity for the persons. Eventually, this will help the refugees to get an identity record which they can easily get from an app through their smartphones while crossing the international border or to get instant healthcare and other assistance in times of dire need.
The prototype is specially designed to make the PII or Personally, Identifiable Information is constantly available through off chain. The prototype is fully protected so that no one else can access other than the person for whom it is created to prevent the tyrannical governments to access information of fleeing of refugees.
The platform of Accenture is presently used for the biometric identity management system by the United Nations High Commission for Refugees. The system has already enrolled more than 1.3 million refugees across 29 countries from Africa, Asia and the Caribbean. It is further calculated that the system will support 7 million people or refugees across 75 countries till the year 2020.
