We may be reaching the point where fraud and fakes are becoming so prevalent that the costs and pain are overwhelming enough that we’re ready to take the effort to try new solutions. Blockchain technology might finally have a mass market use here. But we’re not quite there. Except for crypto most of the work has been in infrastructure. Consumer use cases are few. This might be a natural evolution. The progression from infrastructure to platforms to applications is a movie we’ve seen before. And consumers likely don’t see safety and security issues as the most fun to deal with. At a certain point though, the answer to “where do you want to take the pain” turns into “ok, we have to deal with this now.”
The challenge remains getting adoption when there’s serious effort. After all, isn’t it annoying enough to have to identify how many traffic lights are in a picture just to get to your own account somewhere? Well, dealing with today’s crop of blockchain identity solutions is a bit more of a hurdle. At least for now. You may be thinking, “But don’t we already have all manner of fraud solutions, from credit checks to heuristic rules and now even AI trust scores?” Yes we do. And how is all that working for us?
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