The company acknowledged that the services operating in the decentralized ledgers of Bitcoin, Litecoin and Ethereum meet the criteria to ensure optimum performance.
According to information published by the company this week, Microsoft announced that it would be integrating decentralized identity systems that operate in public blockchains - such as those of Bitcoin and Ethereum - to use them and incorporate them into its Microsoft Authenticator service.
Decentralized identity systems, unlike those traditionally used throughout the world, are not controlled by any institution, such as a government or a technology company. The idea of these new systems is that the person be given full control over their identification data and their reputation in the different areas in which they operate.
As a result of having evaluated several types of decentralized identity systems, Microsoft finally opted for public Blockchain since they guarantee privacy, ownership over data and the possibility of accessing data without requiring permission from third parties.
Going deeper, Microsoft points to Bitcoin, Ethereum and Litecoin as the most appropriate platforms for the implementation of decentralized ID programs (DID).
The scope of the handling of the identification data is one of the most recognized use cases for the Blockchain technology outside of the realization of payments or the management of assets. Due to the above, today there are many projects related to the underlying technology of digital currencies in this area, with Blockstack ID and uPort being some of the best known.
At the moment Microsoft plans to work with DID implementations that meet the standards set by the W3C working group . However, the computer giant has not revealed more information than clues about how it plans to integrate the service with the Blockchain solutions that are selected.
The handling of identification data
There are many people in the ecosystem of digital currencies who see in the underlying technology of cryptocurrencies opportunities that can improve the daily life of people.
In the field of the handling of identification data, it is believed that the Blockchain technology could help to stop the inequality in the world, since people would be completely owners of their identification data, thus being able to guarantee access to their rights and better opportunities. .
In this order of ideas, the words put forward by the CEO of BanQu, Ashinsh Gadnis, who during a presentation in the city of Bogotá at the end of October 2017 highlighted the need to allow people to manage their identification data with complete control, especially in the case of migrants and displaced persons, who because of the conflicts in their countries of origin do not have the opportunity to prove their identity from the economic point of view in other latitudes.
In the words of Gadnis, "a person who can not share their data and demonstrate their history, ends up losing their dignity", since they are condemned to live in a situation of poverty since they will not be able to access better opportunities, bank loans, health and education.
Cryptocurrencies
Name | Price | |
---|---|---|
1. Bitcoin | $10,972.60 | + |
2. Ethereum | $948.06 | + |
3. Ripple | $1.15 | + |
4. Bitcoin Cash | $1,525.96 | - |
5. Litecoin | $223.39 | - |
6. Cardano | $0.390102 | - |
7. NEO | $135.16 | + |
8. Stellar | $0.455520 | - |
9. EOS | $9.67 | + |
10. IOTA | $2.10 | + |
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Last updated: Feb 19, 2018 1:42 PM UTC