About Chain ID
ALL of us are used to carrying around pieces of paper which tell about our achievements in life. Be it certificates for passing a certain examination or licenses for carrying out a particular business. These certificates and licenses signal the achievements and abilities which make them eligible for specific jobs.
Given the importance of these documents, the way we handle them currently is archaic. Most of the certificates are paper-based which need to be carried around in person. If you need to present it to any authority, you need to get it notarised which is a cumbersome process in itself. The need for notarization is to ensure that fake certificates are not produced, but the way public notary services are designed hardly ensure authenticity. And if you are required to share your certificates with somebody else over the Internet, it’s a nightmare.
The main problem with sharing of certificates is that people have huge incentives to fake certificates and signal achievements which they have not accomplished. Blockchain technology is an ideal solution for such situations where the system needs to be censorship resistant and reliable without the need for parties to trust each other. With ChainID, we envisage a world where sharing certificates which are reliably authentic is as easy as sharing a file.