How does 3air plan to solve the identification problem in an emerging economy?
In emerging economies, such as in most African countries, a significant portion of the population is undocumented. Undocumentation limits the people from receiving services from the government and institutions such as banks and other financial institutions.
Businesses will not take risks to extend credit to individuals without enough personal data about them. Therefore, it is imperative that a solution that addresses these concerns is developed and deployed to tackle these problems. In Sub-Saharan Africa, there is a significant number of unbanked people.
Unbanked simply means an individual does not own a bank account, and this is related to lack of documents to prove their permanent residence, record of assets, proof of regular income, registered business, employee ID and related documents. A bank will have these on record, ready for verification as a bank will conduct due diligence. Therefore, financial institutions have no means by which to check their credit history and capacity to pay back loans or avail of any financial transaction.
But why is it that most people are not documented? Several reasons have led to massive identification problems in most of these emerging economies, such as the lack of efficient data storage and management capabilities. Disruptive technologies like 3air’s proprietary technology can easily be used to solve Africa’s identification problem, setting up the economies to scale to developed market standards quickly.
Importance of identification
Identification is a critical part of any economy, especially after the successful move to a cashless society; the need to be correctly identified digitally has increased. Virtually all online services require people to provide some documentation. The blockchain technology proposed by Satoshi Nakamoto, the Bitcoin creator, involved a digital identification system that did not require any form of standard identification systems often required by governments.
The 3air identification takes this concept further by incorporating necessary details that allow the system to collect relevant information about users to ensure a smooth relay of reliable internet services to African cities.
Digital identities can provide an effective, trustless, secure, and private medium of handling personal data by providing access to credit scores, medical history, and proof of education that is easily verifiable on the blockchain.
3air’s plan with digital identification (DID)
DID, is short for digital identification and is a service that 3air plans to incorporate into its arsenal of services. The plans to elevate Africa’s economy to developed world standards require meticulous technology that handles data efficiently.
The 3air’s digital identity plan could help ensure that ISPs provide essential services to their users with ease. For instance, internet users are often required to sign up to multiple websites by manually entering personal information into several text boxes. The process is often cumbersome. Although some platforms allow users to sign up using third-party authentications like Google or Facebook, the process can be made much simpler and more efficient using 3air’s identity-as-a-service blockchain approach.
Can 3air meet challenges on DID?
Developing an elaborate identification system with sufficient information is a progressive task that requires time and efficient infrastructure. 3air’s technology is a proven and tested solution in the African market. Its ability to serve large concentrated cities has proven successful to date. Considering the numerous reasons to opt for a blockchain solution, 3air’s proprietary technology can undoubtedly meet the DID challenges in Africa.
Conclusion
Identification is a significant part of any governance and management. To successfully manage service delivery, a proper identification system is required. 3air’s blockchain approach can ensure correct, verifiable information is stored and used to render countless services to users efficiently.
