The tech company aims to collaborate on an open source, self-sovereign, blockchain-based identity system that allows people, products, apps, and services to interoperate across blockchains, cloud providers, and organisations.
Microsoft believes that the blockchain will give power to the people in an era where they are granting consent to several apps and services. This technology is able to protect their identity data, which is spread across multiple providers. When the data is being used or looked into, the authenticator app throws in blocks, which have to be verified by the original party that shared data. Only when the block is authenticated will the data be released to the party trying to access it.
Microsoft championed this along with the ID2020 Alliance, a global public-private partnership dedicated to aiding the 1.1 billion people around the world who lack any legal form of identity. The company donated USD 1 million, and committed resources and expertise to further develop a secure, portable form of digital identity, and help implement it across governments and agencies.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now