Since bitcoin, the first token was invented, more and more currencies have come up with improved technologies that promise to bring better solutions to the market. Today, there are more than 1000 altcoins. Digital Identification Wallet (DIW) is among the technologies based on blockchain application that promise better service as far as everything related to the tech is concerned.

What issues does DIW promise to address?

Even though the blockchain technology that forms the foundation of cryptocurrencies is an improvement to the internet use as we know it, there are still many issues that are associated with it and DIW sorts to address these issues.

Since it is one of the best technologies, there are a lot of people who have grown interested in its application. It promises to keep sensitive data safely through tokenization and other functionalities. The problem is, other internet users who have malicious intentions have somehow found a way to breach these security features. As a result, there is evidence of increased breaches to some data. This spells a huge problem especially for a technology set on a decentralized system with secure and anonymous functionality features.

Another issue concerning cryptos is its usability. Cryptos are virtual currencies; they cannot be touched or seen. Actually, there is no way of proving they exist but through confirmed transactions stored on the blockchain. Because of this, the currencies are meant only for online application and use. You cannot use them to buy coffee in a shop or any service that requires monetary functions in the real world.

Thirdly, as the need for digital and online applications by different companies increase, so does the number of fraudulent and untrustworthy online service providers increase. This situation has made it very hard to find an excellent server to work with. There is an increased number of scammers yearly as more and more individuals and companies are conned.

The situations described above are just some of the pressing issues faced by internet users, which DIW seeks to address, which is successful will be the beginning of a new era.

How does it intend to achieve this?

The technology is set to introduce its own global, decentralized network based on blockchain that will come fully equipped with its own ecosystem and currency.

Think of it as a secure vault that is hard to bypass but with the owner. Holders of the DIW will have access to the vault over the network anonymously, in which they will store all their sensitive documents like passports, contracts, electronic medical records and much more.

The company promises through their websites to increase the everyday application of the crypto by providing its own payment gateway integrated with e-commerce websites that accept both fiat and cryptocurrencies.

Conclusion

Based on the above issues and problems, the success of DIW will merely provide a haven for internet users in general. However, there are already many other companies that offer same or similar service which means it may early to give a verdict on the company. It is better to wait and see how it picks the market.

Website | ANN