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Microsoft building open-source blockchain ID system

Microsoft building open-source blockchain ID system”

Microsoft has collaborated with Blockstack Labs and ConsenSys as well as with separate developers across the globe for the goal of creation of an open source, self-sovereign, blockchain-based identity system.

Lead software architect of uPort Christian Lundkvist said: "I'm very excited about this collaboration, which promises to radically expand the reach and user base of self-sovereign digital identity systems".

ConsenSys would try to solve this with the introduction of uPort, a solution that allows civilians to control their own online identities. "With this project we are taking a big step towards empowering people who suffer from the lack of identity, as well as streamlining the fragmented identity systems in our modern society".

Users of uPort are fully in control of their personal information (expressed as reputational attributes).

"Through this open source collaboration we intend to produce a cross-chain identity solution that can be extended to any future blockchains or new kinds of decentralized, distributed systems".

"In the coming weeks" an open-source framework will be available on Azure where developers can set up an instance to work on projects involving the proposed open-source identity layer.

This could be used to secure micro-loan on a decentralized lending platform and grow a small livelihood from there, for example.

Rouven Heck, product manager of uPort added: "The massive usage increase in smartphones and the internet combined with blockchain technology offers a great opportunity to solve identity issues for everyone". Reliable digital identity and reputation will create trust in the digital world, which will fundamentally change the economy.

Other firms like Palo Alto-based ShoCard, which is using the technology to create ID solutions for the airline industry, are also exploring the application of blockchain technology in identity verification.

Sam Cassatt, chief strategy officer of ConsenSys said, "This project represents meaningful progress towards accessible, powerful identity for our world". The EconoTimes content received through this service is the intellectual property of EconoTimes or its third party suppliers. Neither EconoTimes nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.

 

 



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