• Microsoft

Microsoft Uses Bitcoin’s Blockchain

Microsoft is building an ID verification platform on Bitcoin’s platform. They use the blockchain technology to create a trustful digital identity scheme. This service from Microsoft will be free and won't cost you sent

The project from Microsft is called ION (Identity Overlay Network) and will focus on developing protocols which process data between different networks to communicate with each other. Microsoft’s goal is to create a decentralized identity ecosystem where billions of people can securely interact over an interoperable system built on standards and open source components.

What Microsoft did was to invest in a set of ideas for using Blockchain (distributed ledger) to create new types of digital identities.

So what is a digital identity?

It is information on an entity used by computer systems to represent an external agent. This agent can be a person, organization, application, or device. The issue this big tech giant had was to create universal access to identity. Microsoft said that 1.1 billion people around the world are lacking any legal form of identity. Microsoft’s blog reports that: "In the U.S. and abroad, fundamental rights and services like voting, healthcare, housing, and education are tethered to legal proof of identification – you can’t participate if you don’t have it. Yet nearly one in six people worldwide – the majority of them being women, children, and refugees – live without it. The lack of legal documentation not only strips access to critical services, but it also puts those trapped in the “identity gap” at risk for larger issues including displacement and child trafficking."

Microsoft gave a donation of $1 million to further develop a secure, portable form of digital identity and then will help to implement it across governments and agencies.

Closing the identity gap is an enormous challenge. It will bring together people across different geographical areas, sectors, and technologies. It is exciting to imagine a world where safe and secure digital identities are possible.

 

Post Comment

Post Comment