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Companies like Civic have adopted blockchain technology to revert control of personal data back to the true owner: you as the individual. Using what’s known as cryptographic hashing, users download Civic’s app onto their phone and set up their digital identity. Encryption and biometric markers, such as a thumbprint, secure the data on the user's device. Civic verifies your identity through a reliable third party. In many cases, this involves governmental verification, but a trusted third party may also be used.

Once verified, Civic encrypts the data using the aforementioned cryptic hashing, and your personal identifying information such as name and birthdate, are removed from their servers. Your particular hash is moved to the blockchain. If an enterprise or another individual wants to verify your identity for the purpose of a transaction (or due to hiring requirements), you send the required information (within the cryptocurrency realm you have both a private and public key with the public key being the one that’s shared for transaction verification) which is then passed through the Civic algorithm for authentication.

Whether or not Bitcoin survives its bullish run, and inevitably there is a law of gravity within the world of trading assets, blockchain technology is poised to be the singular survivor should the cryptocurrency fever pitch subside.