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In an Op-Ed for Fortune, Frederic Kerrest explains why blockchain could become a substitute for Social Security numbers in the United States, following the Equifax data breach. Kerrest argues blockchain has the potential to become a primary identifier around the world, more so than biometric options and national ID cards. “Blockchain is the technology behind encrypted, public ledgers for storing data that cannot be erased or changed without leaving a record,” writes Kerrest. “It is really good at controlling information and avoiding duplication, which makes it an interesting solution for governing identities.” However, while Kerrest believes blockchain has potential to replace SSNs, he acknowledges there would be challenges to making it a reality, including the installation of regulation and ensuring universal adoption.
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