Crash-course, for the fun of it.
Imagine this:
You are born, by law, the doctor is mandated to click something on his computer to verify your birth.
You start and then graduate school, by law, the school is required to click something on some computer to validate you successfully finishing school.
You start and graduate college/university, same thing.
You buy a property, somewhere at the land department, someone is mandated to authenticate your ownership by clicking somewhere.
You buy a car, you get married, you have a kid—click, click, click.
You are looking for a job, instead of going to LinkedIn and be just another fish in the sea claiming skills that might be perceived as untrue, you actually have these skills and throughout your life, these same skills have been authenticated throughout your several life milestones by schools, universities, coaches, courses, and previous employers BY LAW -because no one would do it otherwise- somewhere at the same place. Now, recruiting employers have a verified filter on who has 10 years of experience in what and who can actually do the required job description to be fair to all candidates and to be time efficient.
This place everyone is clicking on to verify every step of your life -the same place- let's call it a ledger, and all the verifications live on the same ledger, including your bank account, your net worth, the historical data of your life, what you own, and what you have sold.
Let us call each verifier a miner, just for the fun of it.
To become a miner, you should go through meticulous online steps to verify your identity for fraud, these steps and your identity verification status is publicly available.
Now for the last step, every ‘verification click’ miner A does, should be verified itself by a million other miners to verify the authenticity of miner A. This verification is done in milliseconds and is automatic, no manual labor is required, no clicks.
So what do we call this process? Let us call it blockchain, for the fun of it.
Identity theft, fraudulent claims, hacked passwords, false skills, broken recruitment system, international money transfer middlemen: poof, gone!
Now tell me this isn't a genius way to cut out frauds and suspicious activities.
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