A few years ago I received a bill from a store I’ve never heard of before. While I do buy a lot of stuff online this $1000 was a bit excessive for me. It took me a few days of talking to the merchant and then the bank to figure out the credit card used wasn’t mine, but it was open in my name.
After reporting the incident to Police they eventually discovered the culprit was a 15 year old hacker. Since then my identity has been used several times to rack up expensive holidays, obtain drivers licenses and open bank accounts. It seems once your been compromised your always a target. Provenance of identity is currently not always assured.
A recent study, reported identity fraud costs USA citizens $16 billion in 2016 an increase from $15.3 billion stolen in the year prior. Each year, the amount has grown steadily with the Police seemly at a loss to prevent it. There have been many recent examples of high profile cases where information has been stolen. Your identity is at risk, thieves are targeting where you shop. However people still share their personal data to these companies.
Whats the solution?
The internet is everywhere and growing everyday. Internet of things (IoT), 5G wireless, quantum computing. The answer is to protect yourself. iZAC Tokens are a blockchain encryption designed to prove you are you and prevent anyone else from claiming your identity. When you add your crypto into the blockchain you can boost efficiency and simplicity of its use. More important you increase your personal security, protecting everything from your Health records to our Government’s secrets. The blockchain is a distributed ledger of information. You don't really need to understand how it all hangs together, as long as you know that blockchain offers
- Distributed data storage
- Cryptographic security
- Third-party validation
- Provenance of identity record
These four traits are unique to the blockchain technology.
Data Storage - Information stored on a blockchain is distributed across multiple locations. This is very different from the way companies store information today. When information is distributed, it's impossible for a hacker to steal the whole blockchain.
Cryptographic security – this is a measure to prevent a hacker or cyber-criminal from altering information on the blockchain, providing every individual with better security.
Third Party validation – So what’s the point protecting data if you can access and use it when you need. Most crypto projects use miners to validate the blockchain string, iZAC Tokens are a little different. iZAC Tokens validate their keys against your DNA, something you carry with you everywhere. A small DNA sample is taken and compared against the blockchain confirming you are you.
Provenance - trusting the source and journey of an identity record has become a paramount concern for governments and corporates. Knowing confidently that the original source record of identity is valid and can be sought from the blockchain, supports non-repudiation and rejects false claimants readily.
Cybersecurity industry is experiencing a boom. Investing in this technology will protect you and could prove very lucrative in the coming years. Investors in this space will benefit from the rapidly growing sector. iZAC will be in the lead as we expand and invite others to improve security methods, protect documents and most important make being “online” easier and safer than ever before.
We estimate that its likely the cybersecurity market is expected to hit $170 billion in value by 2020. BY 2022, the sector is supposed to be worth $231 billion.
It’s time to join the iZAC revolution