Did you ever stop to think just how corrupt the Swamp is in our Nation’s Capital?
The Fed’s spent $3.65 Trillion in fiscal 2017. $4.407 is projected to be spent in fiscal 2019.
Let’s be extremely kind and estimate that only 5% will be waste associated with identity fraud (Social Security, Medicare, Medicaid, and Voter). That works out to $182 B for 2017 and $220 B for 2019.
There is a proven and affordable solution to eliminate the cost of Federal Identity Fraud right now. Blockchain Technology.
As the Chief Executive, President Trump (and Obama and Bush 43) has the power to build a single Federal Identity data base using birth certificates, death certificates, social security numbers, voter registration, tax return filings, benefit payments, school and professional certification records, insurance policies, bank accounts, travel records, arrest records, employer payroll tax records, utility bills, property tax bills, property identification numbers, mortgages, car loans, insurance policies, hospital and health provider records, to validate identities and run algorithms flagging potential fraud.
Image the reduction to the cost of fraud in the private sector (and benefit to consumer) by querying the Federal Identity Data Base.
The most qualified person to design, oversee construction, and validate is William Binney. He architected and built the NSA data base collecting every phone call, txt, and email for less than $3 M in 1993. He is also likely to be the best in the world at writing algorithms to detect fraud. Please take the time to learn about the genius and character of Mr. Binney and you will appreciate why he is the one to do this fast and in a cost effective and sustainable manner.
The need is obvious. The technology is available and proven. So is the expertise. I’m pretty sure Binney could get this done for less than $1 B. Certainly for less than $10 B.
The question is will President Trump champion this solution? Will a member of the Senate or House? Will there be someone in the media? A Governor? A celebrity? Surly there is someone who will step-up to promote this immediate need.