Register for The Paypers news Follow The Paypers on LinkedIn! Follow The Paypers on Twitter! Follow The Paypers on Facebook! Follow The Paypers on Google+!
The Paypers, paypers, Insight in payments, News, Reports, Events

Sphre to roll out blockchain platform for digital identity management

Friday 3 March 2017 | 09:31 AM CET

Sphre, an identity management company, has announced plans to launch Air, a system for digital identity and individual microeconomic engagement based on blockchain infrastructure.

The technology of Air is composed of smart contracts, Application Programming Interface (API), and a mobile application for personal use. Air’s API will allow third-party organizations and enterprises to integrate support for Air into their existing and new systems, while the mobile application secures and maintains each individual’s private key. 

Users also have the ability to store their key within a digital vault of their choice, such as a bank. The Hyperledger Chaincode (smart contract) forms the basis of the given identity, and contains program logic that will allow an individual to recover their identity if their mobile device is lost.

Air-based digital identities will take on a variety of forms, from the individual to the enterprise, all of which are fully owned and controlled by the creator and do not rely on a centralized entity or third party for validation. Due to its blockchain-based implementation, each user’s assets such as cryptocurrencies are intrinsically supported.

Sphre plans to launch a token crowdsale on April 3, 2017 to raise USD 1.5 million to build out the Air consumer product and introduce it to the market.

Print | Contact editor | Mail
© 2017 The Paypers
More: Abstract