|   Digital Currency


  |   Digital Currency


Microsoft to roll out open ­source blockchain-based identity platform

Microsoft has partnered with Ethereum production studio ConsenSys and Blockstack Labs to build an open-source blockchain-based identity platform.

Microsoft blog stated that, the company is collaborating with partners Blockstack Labs and ConsenSys, and developers across the globe on an open source, self-sovereign, blockchain-based identity system that allows people, products, apps, and services to interoperate across blockchains, cloud providers, and organizations.

During ID2020 conference in New York last week, the company made the announcement to develop ID platform for multiple blockchains. At the Identity2020 Summit, the team gathered to review societal problems that could be solved with the open identity solution.

ID2020 saw UN members, private companies, and government agencies, who co-convened to define the problem of identity in the world. The goal of this conference is to have a legal identity for every person without the need for identification by 2020.

The press release by ConsenSys mentioned that early version of the identity solution is expected to be available by the end of this summer. ConsenSys has developed the uPort Identity solution, with integrated support for our reputation system and transactional security system that revolutionizes identity creation and management for potentially 7.4 billion people on the planet. 

Lead software architect of uPort Christian Lundkvist said that, “I’m very excited about this collaboration, which promises to radically expand the reach and user base of self-sovereign digital identity systems.” He further added saying, “With this project we are taking a big step towards empowering people who suffer due to the lack of identity, as well as streamlining the fragmented identity systems in our modern society.

The release further stated that, uPort serves as a container for reputational attributes like email addresses, Facebook URLs or state issued ID. The uPort users will be completely in control of their personal information.

Microsoft blockchain business strategist Yorke Rhodes III wrote in the blog post saying, “There are many questions that remain unanswered, but we can imagine a world where an individual can register their identity in a cross blockchain fashion, providing a single namespace for lookup regardless of blockchain of choice.” He further added that, “We are excited to find out the amazing things developers and organizations will build on this open source identity framework.”

More than 2 billion people in the world who don't have state issued ID, can have their community members attest to their personal information. Community members can essentially vouch for each other to enable them to develop and use this bootstrapped persistent and portable reputation. This can be used to obtain a micro-loan on a decentralized lending platform.

Talking about the technology today, product manager of uPort Rouven Heck communicated, “The massive increase in the usage of smartphones and the internet, combined with blockchain technology, offers a great opportunity to solve identity issues for everyone. Reliable digital identity and reputation will create trust in the digital world, which will fundamentally change the economy.” He further said, “This collaboration is a great foundation to realize the necessary adoption of these tools, independent of the underlying technologies.”

Previously, ShoCard explored blockchain technology for digital identity management to store travelers ID details.

Talking about the project and its future plans, Sam Cassatt, chief strategy officer of ConsenSys, said “This project represents meaningful progress towards accessible, powerful identity for our world. If successful, we will enfranchise a significant portion of the global population that was previously disenfranchised and democratize access to the rapidly evolving global financial system.

ConsenSys is a venture production studio that specializes in building decentralized applications (DApps), enterprise solutions and various developer tools for blockchain ecosystems, focused primarily on Ethereum.

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