The weakness of blockchain is the identification of a person

[NEUROSEED]

Active use of blockchain in everyday’s life allows us solving a lot of problems, especially in the financial sphere. One of the problems with using this technology is customer identification. It's not always possible to successfully identify a partner.
Microsoft will decide this problem with BlockStack Labs and ConsenSus. They plan to develop a solution to simplify the identification based on the blockchain. For this they will use the solutions uPort and OneName that were written for Ethereum and Bitcoin accordingly. The product will be released in three months.
Such a platform may carry some interest for future ICO.

[mk4]

Why is the identification of a person such a big deal though? In the first place, isn't anonymity(to a certain extent) one of the best features of bitcoin? Whereas you wouldn't need to have an email address, an account, or whatever kind of validation for you to have a wallet and use it? Customer identification being unaffiliated with their wallets isn't a weakness. It's actually one of the strengths of bitcoin.

[nexus99]

Why is the identification of a person such a big deal though? In the first place, isn't anonymity(to a certain extent) one of the best features of bitcoin? Whereas you wouldn't need to have an email address, an account, or whatever kind of validation for you to have a wallet and use it? Customer identification being unaffiliated with their wallets isn't a weakness. It's actually one of the strengths of bitcoin.

I totally agree here. Anonymity is one of the main reasons people are drawn to btc. I see it as an absolute strength, never a weakness

[dimastegar]

I think the uPort and OneName technology is truly needed. Although there has been no obstacle to the identification of ownership of meaningful Address. But we need a new one. I can't wait to know the technology.

[matuson]

Some online wallets and exchanges need to be verified. Due to the fact that we are able to Bank account the national currency. Such a mandatory requirement. In this case, such software will be in demand. But this is only until you will be able to buy everything with bitcoin.

[stompix]

One of the problems with using this technology is customer identification.

No, this is not a problem, it's a major advantage bitcoin has.
Try to "solve" this and you're going to see how real problems will look like.

And for the fun of it, you could right now sign a message with your bitcoin address with your full name and then every time you make a transaction come here and tell us what you paid for or where the money come from.

If you support that idea probably you can show us you don't care somebody will be able to track all your payments and money spent.
 

[sylance]

One of the problems with using this technology is customer identification.

No, this is not a problem, it's a major advantage bitcoin has.
Try to "solve" this and you're going to see how real problems will look like.

And for the fun of it, you could right now sign a message with your bitcoin address with your full name and then every time you make a transaction come here and tell us what you paid for or where the money come from.

If you support that idea probably you can show us you don't care somebody will be able to track all your payments and money spent.
 

Agreed.  The only organizations that worries about identification are governments.  They say it's due to money laundering although my guess is less than one percent are doing hardcore illegal activities with crypto.  It's more about control and getting their slice of the pie.

[Red-Apple]

it is considered a weakness only for those who don't value their privacy and i happen to know no one like this!

"identifying the customer" is only useful in the old system where you fear fraud, charge back, and all the risks that a fiat system like credit card brings with itself.
with bitcoin or "blockchain technology" these risks are removed. this actually is the highlight of bitcoin paper when comparing the "new system" with the old one.

[Supreemo]

Why is the identification of a person such a big deal though? In the first place, isn't anonymity(to a certain extent) one of the best features of bitcoin? Whereas you wouldn't need to have an email address, an account, or whatever kind of validation for you to have a wallet and use it? Customer identification being unaffiliated with their wallets isn't a weakness. It's actually one of the strengths of bitcoin.

I totally agree here. Anonymity is one of the main reasons people are drawn to btc. I see it as an absolute strength, never a weakness

,yes totally agree. If someone has to make his identifications clearly its okay, its not that when you give your identification you are already exposing yourself to danger, besides if you are not doing something wrong why would you be scared at all? In some point some measures are being given to users like identification for the verification of user, and aside from that if they would neglect it and then the user is doing  bad things then it they would be the ones being blame and their company's at stake. Your identity is still safe.

[Catmony]

Blockchain is actually a ledger and anything can be written on it including personal information and I think few data management platforms are working on it.

Many trading platform and wallets like coinbase, xapo already have KYC policy. Any ICO projects can also implement similar verification process if they want to but none of the ICO have done this.

[aakashsangwan]

Blockchain is actually a ledger and anything can be written on it including personal information and I think few data management platforms are working on it.

Many trading platform and wallets like coinbase, xapo already have KYC policy. Any ICO projects can also implement similar verification process if they want to but none of the ICO have done this.

Because there are not certain guidelines that every ICO must follow, so they are just taking the advantage of it. Moreover they can also block the IP addresses from those countries in which bitcoin is banned so as to avoid any legal action.

[Makka]

Active use of blockchain in everyday’s life allows us solving a lot of problems, especially in the financial sphere. One of the problems with using this technology is customer identification. It's not always possible to successfully identify a partner.
Microsoft will decide this problem with BlockStack Labs and ConsenSus. They plan to develop a solution to simplify the identification based on the blockchain. For this they will use the solutions uPort and OneName that were written for Ethereum and Bitcoin accordingly. The product will be released in three months.
Such a platform may carry some interest for future ICO.

Complete anonymity is one of the great features that are intentionally integrated into blockchain. That is not actually a bad move considering that people are already looking at it as a safe way to do transactions, unlike when you do the traditional banking ways which always carry with your every transaction your personal identity. However, it is now being exploited by some other crooks.

[soothaa]

I am really getting tired of these arguments. If I wanted to buy drugs or guns or some other blackmarket transaction today you know what I would use? Cash. The US dollar. Untraceable and not able to be monitored. Seriously, we already have the perfect black market and money laundering tool made by our own government. The only thing they want is control. They want to control and monitor everything. They are afraid. So they claim all sorts of bad things will be done with the new form of money. Right.

[RoommateAgreement]

One of the problems with using this technology is customer identification. It's not always possible to successfully identify a partner.
Microsoft ...

i think you need to explain more about this. i remember reading something about what Microsoft plans are with this project but i skummed through it and my memory is not helping me right now to remember the summary that i read.
as you can see everyone is already talking about the anonymity part but i think the goal of Microsoft is different and that makes it useful.

Such a platform may carry some interest for future ICO.

i don't think so. what Microsoft does, can not be repeated by a random dude on the internet trying a new ICO to make money.

[severaldetails]

Do I understand that right? They want to bind wallets to people?
For economic reasons that might be not so bad.
After all, when you do business you want to know with who you are dealing with. It could bring legal clearance.
I suppose they need the permission of the people to do something like that first.
Imagine they make a mistake and you suddenly become the owner of the wallet of some drug lord...

[Ayers]

Active use of blockchain in everyday’s life allows us solving a lot of problems, especially in the financial sphere. One of the problems with using this technology is customer identification. It's not always possible to successfully identify a partner.
Microsoft will decide this problem with BlockStack Labs and ConsenSus. They plan to develop a solution to simplify the identification based on the blockchain. For this they will use the solutions uPort and OneName that were written for Ethereum and Bitcoin accordingly. The product will be released in three months.
Such a platform may carry some interest for future ICO.

you can have a better anonymity with bitcoin if you work hard with a mixer, or if you exchange with bitcoin, for example if you exchange for monero from an exchange and send to your wallet, then send again to another one of your address and again to another exchange, you are 100% anon

[escrow.ms]

OP There's no weakness in blockchain and I don't know why some of you are relating it with your wallets. They are not trying to bind your wallets with your identity, they are trying to make a decentralized web of trust.

[hardforkcoin]

If you are an average person, you can use exchanges that don't identify you. You can buy BTC with bitcoin atms anonymously from what I understand, or use local bitcoins.

Using a proxy/VPN will hide most of what you do, especially if you utilize one from tnother country that does not have USA export/seizure laws and or data agreements.

[Webetcoins]

Some online wallets and exchanges need to be verified. Due to the fact that we are able to Bank account the national currency. Such a mandatory requirement. In this case, such software will be in demand. But this is only until you will be able to buy everything with bitcoin.

well I don’t think so that being identified is a big deal but if someone don’t want to share his identification then it’s also not bad but block chain is anything in which you can show anything you want even your identification and the platform organizers are working to solve the matter because a lot of people are complaining about it soon it will be solved in bitcoin you don’t need to put your personal information you can use it without showing your information.   

[eaLiTy]

Active use of blockchain in everyday’s life allows us solving a lot of problems, especially in the financial sphere. One of the problems with using this technology is customer identification. It's not always possible to successfully identify a partner.
Microsoft will decide this problem with BlockStack Labs and ConsenSus. They plan to develop a solution to simplify the identification based on the blockchain. For this they will use the solutions uPort and OneName that were written for Ethereum and Bitcoin accordingly. The product will be released in three months.
Such a platform may carry some interest for future ICO.

These sort of solutions might interest some but i am here only because you have the freedom to send and receive coins without a third person intervening and that is what attracts me,if Microsoft or any big corporate wants to identify every user which they have being doing all this while,they have their choice but i am not interested in those tokens.