Paul Mampilly Believes Blockchain Can End Identity Theft, Here’s How

Paul Mampilly Believes Blockchain Can End Identity Theft, Here’s How

August 21, 2018 0 By Stephen Callahan

If you have a credit card, use mobile banking or ever bought something online, you are at risk for identity theft. In fact, even those who don’t have credit cards are at risk, and it’s vital you learn how to protect yourself. Criminals are always on the hunt for ways to steal enough personal information to take out loans and credit cards under someone else’s identity, and you don’t want to be the next target.

Financial expert Paul Mampilly says he knows how to end identity theft forever, and the best part is that the technology to do so already exists. Mampilly points to blockchain technology as the solution to a financial problem that has impacted countless people over the last few decades. You will learn more about blockchain technology and how it can protect everyone from identity theft, but you will also discover the other advantages of using a blockchain.

Blockchain Overview

paul mampilly explains how blockchain worksYou have likely heard of blockchain technology in the past two years, but you might not know what it is. Learning about blockchain technology and how it works is the key to understanding how it can protect the world from cybercrime. In simple terms, blockchain technology is a decentralized ledger that manages and monitors transactions.

Reviewing how credit card transactions work will help you appreciate the benefits offered by using a blockchain. When you buy something online or at a store, most companies save your credit card number after transmitting it to the bank to complete the transaction. A criminal who intercepts the data transmission or breaks into the database can access all of the credit card numbers on file.

On the other hand, using blockchain technology to complete the transaction combats that problem and gives you peace of mind. Rather than giving companies your credit card or bank number, you log in to the account to transfer the funds. If a hacker intercepts the information or breaks into a database, the attacker won’t find anything to use against you. Since blockchains are decentralized, multiple servers around the globe will monitor and confirm each transaction. Without your account information, a criminal would have to hack tons of servers from all parts of the world to access your funds.

Read Related: How to Secure Your Website with HTTPS

How Blockchain Technology Can Protect Your Identity

Mampilly goes on to explain that we can use other technologies to make blockchains even more secure. With his background and more than 25 years of experience in the financial sector, Mampilly has earned a reputation for making accurate predictions, and he uses his knowledge to help people make sound decisions that grow their wealth.

Rather than using online accounts to control transactions, Mampilly suggests we use embedded microchips to buy products and services. Many people get uncomfortable with the idea of using chips to manage their finances. Change always makes people feel uneasy, but making calculated changes is the only way for society to continue moving forward. If we can overcome the initial hesitation and look at the situation from a logical stance, we can see how the benefits outweigh the possible downsides. You will know your accounts are in good hands when an embedded microchip is the only thing that can access your funds.

How Blockchain Technology Can Make Life a Lot Easier

Although Paul Mampilly believes making secure transactions is one of the main benefits of using blockchain technology, he also lists a range of other benefits we can enjoy. If you have ever forgotten a wallet or purse at home, you know how inconvenient the situation can be. You need to return home to get the forgotten item, which can make you late to important meetings or appointments.

Losing your wallet or purse is even worse because you might never get it back. The cash you had will likely be gone forever, and criminals will have all the information they need to do even more damage. If we start using microchips, you will never need to worry about losing money or credit cards again.

Everything you need will be with you at all times. Current technologies even allow us to store our name, address and other identifying information on the microchip. You can save your driver’s license details and everything else on the chip, and you won’t need to worry about making trips to the Department of Motor Vehicles.

Why You Should Invest in Semiconductors

semiconductorFrom the time Paul Mampilly first came to the United States from India, he has displayed exceptional skill with investing and optimizing profit margins. He has even released the Profits Unlimited guide that shows people what investments are worth considering. Mampilly has a track record for making sound investments and teaching others how they can do the same, so those who want to get ahead take his advice to heart.

Mampilly believes the change to blockchain technology and microchips will happen at some point, and that is why he suggests investing in semiconductors. A lot of people are following that path, but they often aim for large companies that have a proven record of success. Mampilly, however, disagrees with their assessment and points his subscribers in a different direction. He advises people to look for a small company that has plenty of room for growth. Doing so lets them buy stocks when they are low and enjoy the rewards when the demand for semiconductors skyrockets. For those who want a little more guidance, Mampilly recommends investing in STMicroelectronics (NYSE: STM).

Final Thoughts

Identity theft is a problem impacting a growing number of people, and the world is desperate to find a viable solution that will end the threat. Investment expert Paul Mampilly suggests that blockchain technology will soon stop identity theft in its tracks and provide a range of other great benefits. When the world implements this solution, the demand for semiconductors will spike more than many people once thought possible. For those who want to take advantage of the projected demand, Mampilly says to invest in STMicroelectronics.

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