With worldwide rapid urbanization and the subsequent environmental and infrastructural impacts, there is growing recognition for the need for smart cities with highly automated urban systems. However, just as the people in a house make it a home, a city is made up of residents, and this asks the question: in an urban center, which residents are counted?
Some one and a half billion people live without an officially recognized identity. This crisis, due to global dislocation, war, famine, and other natural calamities is not the only issue facing urban systems. There is a major struggle involved in recording, updating, and correcting information about an existing identifiable person.
Billions of dollars change hands to track individual’s records, often as grease on bureaucracy’s wheels. Transactions range from creating, correcting, and updating private property and title records, to recording licenses, intellectual property registration, and business agreements. Personal credentials such as passport, visa, driver’s license, and birth records each come at a cost for each transaction. To add to the complexity of personal identity tracking, there is hardly any provenance recorded of who, when, and how each transaction occurs.
5ire provides an ideal solution to this and other sustainability-focused goals.
Leveraging a new data management structure — one that uses distributed ledgers supported by 5ire — governments can offer their citizens the streamlined, on-demand services users have become accustomed to from private vendors such as Alphabet and Meta in the digital era. At the same time, governments can go above and beyond tech giants by offering improved data security and unprecedented transparency and accountability.
Why is 5ireChain Digital ID Essential?
- Personal identity management: Identity management is a cornerstone of governmental services, but legacy data management tools fail to provide secure yet rapidly accessible and updateable identity.
- Data centralized around the user: Personal identity management is a $12 billion business slated to double by next year. The security, storage, and breaching costs of personal data are humongous.
- Previous solutions failures: Concerns over privacy and authentication failure of prior solutions.
- Trust in government data: The ability to trust government data absolutely in any situation is a foundational capability for any nation-state.
- The integrity of government data: Data integrity is as much of a problem from the inside of an organization as it is from a hack by an outside entity. Government data should be effectively protected from an insider threat attempting to manipulate or alter the stored data.
- Data interoperability: The ability to verify the integrity of government data independently of its home database in real-time enables data interoperability between systems and across boundaries.
What sweetens the pot is that 5ire’s digital ID dovetails with governmental services to create higher transparency and reduce corruption and fraud.
The 5ire Digital ID Provides:
Citizen-Centric Internet: Introducing 5ire Civil Identity Solution
5ire Civil Identity Solution is secure with advanced cryptography. We use homomorphic encryption to perform operations on the encrypted data without the need for decryption. This helps in keeping the private data of the citizens encrypted and yet using the data for different operations. We also make sure that nodes running these operations are malware-free and we perform the remote attestation to identify the malicious nodes on the network.
Residing data with the user and creating a pairwise relationship between the identity issuer, identity holder, and identity verifier will save massive amounts of the centralized cost of personal data management and create an ID that does not require registration with a central authority.
5ire distributed & federated identity management and verifiable credentials applications offer citizens a highly scalable digital identity. 5ire’s citizen ID solution can issue millions of digital signature IDs to cover large-scale deployments.
Digital ID benefits:
- Legal travel ID for Indian citizens
- National health insurance card
- Proof of identification when logging into bank accounts
- Digital signatures
- Medical records
- Academic credentials
- Interaction with the tax system
Adopting this can also provide a pathway to integrating legacy governmental data.
One of 5ire’s main goals is to provide a governance framework via 5ireChain, 5ire’s sustainability-focused blockchain technology. 5ireChain proposes strategic pathways enabling interoperability between off-chain digital legacy systems and governmental infrastructures with blockchain technology, thus enabling a marriage between the two currently distinct fields and bringing the features of blockchain to legacy systems. The adoption of blockchains by organizations has pointed to the integration and interoperability between blockchains and other systems as one of the most promising use cases of distributed ledger technology and yet the most challenging one.
More information about 5ireChain can be found by clicking on the following links:
White paper: https://bit.ly/5ireWP
LinkedIn : https://www.linkedin.com/company/5ireChain
Twitter : https://twitter.com/5irechain
Discord : https://discord.gg/GAWXJKnZQH
Telegram : https://t.me/OfficialFireChain