Blockchain technology, since its inception, has always provided scope for new innovation in various fields. Retail giants like Carrefour have teamed up with IBM to use blockchain technology for the purpose of tracking food deliverables right down to their sources.
Oaken Innovation came up with the idea to use blockchain, specifically Ethereum smart contracts, to develop a ridesharing system on the blockchain.
Amazon has integrated AWS on the blockchain to execute transactions without the need for a trusted, centralized authority. Facebook and Twitter are also exploring integrating blockchain technology into their processes.
According to a representative from the U.S. Customs and Border Protection, using blockchain technology would be quite effective in the travel security sector. The travel industry, Skift, reported this news on March 21.
On Wednesday, program manager at the CBP, Sikina Hasham, made her remarks in a panel held at the JetBlue Technology Ventures Blockchain, in the Travel Summit in New York City.
In response to a question from panel moderator David Post, managing director of IBM Blockchain Ventures – Hasham said:
“One area we’ve seen a significant amount of success in is facial comparison and biometric data. There is a service we’ve created to verify who an individual boarding an aircraft who is as they’re seeking admission into the United States. If we could have more data for the verification from another government party, that would be really great for us.
A significant hurdle still needs to be overcome for the technology to gain traction and provide maximum use value: the development of standardized specifications for communication between multiple organizations’ blockchain systems, Hasham noted.
Robust standards for the industry would be a crucial enabling factor if governments are to implement blockchain, rather than legacy databases, to share data within key security areas such as border control, Hasham implied. She also noted a further challenge the government is reportedly tackling, stating that:
“Our primary goal is security, but also facilitating trade and travel. Blockchain is relatively new for us […] in the travel space, we are still working on figuring out how industry stakeholders in the technology space will help us. […] Privacy and decentralized information are some of the challenges we as a government organization have a legal obligation to protect.”
As reported, the U.S. Department of Homeland Security (DHS) recently appealed to startups who develop blockchain solutions that can help prevent forgery of digital documents, in order to serve the mission needs of various programs under its aegis, among them CBP.
The U.S. Department of Homeland Security (DHS) recently appealed to blockchain solution startups that can help prevent forgery of digital documents, in order to serve the mission needs of various programs under its protection, CBP being one among them.
The CBP has been running trials for a blockchain shipment tracking system to gauge how much the technology is able to enhance the verification process for certificates of origin from various free trade agreement partners.
The use of blockchain technology with biometrics is being developed across a spectrum of diverse applications, including municipal elections, secure ATMs, and IoT biometrics in healthcare.
This article was originally sourced from CoinTelegraph.
About Bank Of Hodlers
Bank of Hodlers is building a customer-centric bank on the blockchain, by providing financial services like cryptocurrency-backed loans and cryptocurrency-backed cards.
We have recently launched our asset-backed lending product where you can earn interest on your BTC, ETH, TUSD and DAI. You also have the option to borrow DAI against Ethereum. You can sign up to the platform by clicking here: app.bankofhodlers.com/register.
Content creator; Writer, Composer, Producer