Traditionally, when we buy something at a store on the web, all the information regarding our name, address, and credit card info is stored on the stores centralized computer, sometimes to be used over and over again. If that particular computer is hacked, our identity as a buyer can be stolen.
A centralized computer is a computer that houses specific information that is housed on a specific centralized computer at specific agency. Though I don't know if my ID has ever been stolen from a store of the web, I do know for certain that it has been stolen at least 3 times from other centralized computers.
It first happened to me in 2012 when my ID was stolen from the centralized computer that housed all the In Home Support Services information for the state of California. This included not only all the recipients, but also all the employees of those recipients. It was stolen again in 2017 when Equifax was hacked and again in 2021 when Experian was hacked. In every case, not only my name and address was stolen, but also my social security number and all financial information. I have no idea what the hackers are doing with my information nor what to do about it.
When you join a blockchain, your data becomes decentralized. In other words, it is not housed on a single computer, but on multiple computers that are linked in a blockchain. Since the blocks are randomly created and not associated with a single government, bank, institution, or store, this structure makes a blockchain impossible to hack, which makes it impossible for your identity to be stolen. It is also impossible to alter transactions on a blockchain. When data can’t be modified and is independently verifiable, it can be trusted.
This is one of the reasons why I have joined CrowdPoint. When you join CrowdPoint you are given a decentralized ID that can never be hacked again.
