27 October 2022
NFT, a digital token that allows individuals to build their own digital identity, can be exchanged for cash, gift cards, and other goods and services with your NFT.
NFT-based digital identity platform built on decentralized blockchain.
The current digital identity system is centralized, posing a security risk to individuals and businesses.Users must also remember a variety of passwords to access different services and retailers, and the passwords are at risk of being compromised.NFT-based digital identity platform built on decentralized blockchain can be accessed with a single ID and password, providing maximum security. The platform operates on the blockchain with NFTs as the means for authentication.
There is a cryptocurrency called NFTs that can be used as digital identities. This is achieved by constructing a cryptographically secure blockchain for each individual NFT. This process would be an automated process. Anyone with the right hardware and software can build the blockchain with-in their own home or office.The blockchain would provide proof of identity without the need for any trusted third party, such as a bank or ID card company, to verify the validity of an individual’s identity. The account holder would only have to proof in some way of his or her identity. There is nothing to prove one’s age, gender, location, date of birth, etc.The user can then use this digital identity to perform any action that non-blockchain technologies currently facilitate: Social interactions (without having to carry around physical cards); Financial transactions (with no need for credit checks; no third party identification); Marketplace transactions (no need for escrow services or middlemen);
Keywords: NFT Your Life, non fungible tokens, NFT, VIP Club
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