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Microsoft is out to prove blockchain naysayers wrong. In an effort to show the potential of the technology beyond its applications in cryptocurrency, the Redmond giant has announced plans to use blockchain tech as the foundation for storing and processing digital identity data.
Following a collaboration with the Decentralized Identity Foundation (DIF), Microsoft has revealed its plans to rely on blockchain technology to solve some of the challenges we face when managing our identities and personal data digitally, such as improving privacy and security across the physical and digital world.
“We believe it is essential for individuals to own and control all elements of their digital identity,” the company said in a blog post. “Rather than grant broad consent to countless apps and services, and have their identity data spread across numerous providers, individuals need a secure, encrypted digital hub where they can store their identity data and easily control access to it.”
To this end, the company is developing an off-chain solution – akin to the Lightning Network – that will allow it to process massive volumes of ID data without congesting the blockchain network.
Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/21st-century-learning-and-teaching/?&tag=Digital+Identity
https://www.scoop.it/t/21st-century-learning-and-teaching/?&tag=blockchain
And in my opinion, it's the most interesting part of blockchain.