The World Economic Forum (WEF) hosted this year in Davos-Klosters between the 23rd and the 26th January has given very interesting results. One of the greatest announcements in the event was the one from Canada. Marc Garneau, Minister of Transport informed that Canada will create a Blockchain based traveller ID scheme.
Blockchain ID Scheme
The government has ben working with Accenture in order to present the ‘Known Traveller Digital Identity’. The ID aims to give travellers the control over their travel. Besides that, it would allow travellers to obtain clearance in advance by using biometrics, cryptography and Blockchain technology.
Citizens will find it easier to move around the world. Nowadays, airports have an important control over passengers. This new ID scheme would reduce times at the airport and make the overall experience more efficient. Passengers would only require to present their biometric, biographic and personal data securely stored in a Blockchain based ID.
Mr Garneau commented about it:
‘Innovation is key to enhancing global competitiveness, mobility and productivity. Leveraging new technological advancements can support risk-based approaches to public safety and security, making air travel more efficient while improving the travel experience.”
Moreover, travellers giving the access to personal biometric, biographic and historical travel data would allow authorities to undertake risk assessments and pre-screening in advanced. All their journey would be seamless just using their biometric recognition technology.
Even when some individuals like John Kerry or Jamie Dimon, JP Morgan’s CEO, showed themselves against cryptocurrencies, we know that enterprises are working with Blockchain technology and embracing cryptocurrencies. JP Morgan has its own blockchain network that allows the bank to send transactions and payments in an easier and faster way.
During 2017, cryptocurrencies attracted investors and developers from all over the world. Enterprises and governments are also using blockchain in order to create new and better products. The WEF has covered for the first time the cryptocurrency topic. In Buenos Aires, during the next G-20 meeting, cryptocurrencies and blockchain will be one of the most important topics to discuss about.