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ConsenSys uPort wins International Blockchain Summit

ConsenSys uPort team has announced that it has won best blockchain application in the International Blockchain Summit Demo Day that was held in Shanghai and also released the first draft of the whitepaper titled ‘UPORT: A Platform for Self-Sovereign Identity’, Open­sources core system and developer libraries.

According to the official release, the users of uPort are fully in control of their personal information that is expressed as reputational attributes. The encrypted information including whitepaper, developer libraries etc will be selected and shared granularly with targeted counterparties.

“We are thrilled about the tremendous interest and excitement about uPort and we look forward to helping DApp developers in the community with their identity management needs, as well as pushing forward with building out features and exploring further use cases for uPort," Christian Lundkvist, lead architect of uPort said.

The uPort will have tight integration of RepSys, a multifaceted, multi­tiered reputation system, that will enable people, organizations and objects to confirm the conduct of their counterparties along with respect to various kinds of transactions including buying/selling, lending/borrowing/repaying, gaming interactions, and data quality among others. The uPort serves as a container for email addresses, Facebook URLs, state issued ID cards and other reputational attributes.

“Identity providers like governments, banks, and IT companies can cryptographically sign such attributes attesting to their validity using "reputational attestations’,” the release stated.

Those who do not have state-issued ID can have their community members attest to their personal information. In case of access to financial services offered by financial institutions in different jurisdictions, users and institutions can use Know Your Customer (KYC) tool in order to build on top of uPort and RepSys.

The company’s uPort team has competed with Cosmos "internet of blockchains" from Tendermint; Decentralized Capital, which ties tokens in Ethereum to fiat currency; Digix Global out of Singapore which tokenizes gold using Ethereum and IPFA; among others, as reported by IBTimes.

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2018-10-23 02:39:40
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