UN supports Microsoft and Hyperledger in a Blockchain Identity Initiative
Jan 24, 2018 Posted / 18740 Views
Blockchain has already got a good amount of exposure as major tech giants want to pursue with the technology and employ it for advancing on their already designed newer technologies. In a recent event, Microsoft and blockchain alliance Hyperledger co-joined in a blockchain-based digital identity enterprise called the ID2020 Alliance.
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The initiative was announced during the World Economic Forum at Davos in Switzerland. Interestingly, the alliance – which aid agency Mercy Corps and the U.N. International Computing Center have also just enrolled as it endeavours to enhance people's lives through the procurement of digital identities.
The press release outlines that the group is producing solutions concentrating on user's immediate ownership and authority over their private data with the help of blockchain technology. The current problem that fortifies over 1.1 billion people is that their face is not enough to establish their identity and hence they are not able to grapple and obtain benefits and services. This problem also provides acceleration to major and pressing issues such as human trafficking, as recorded by the World Bank.
The leadership group has by far received roughly $1 million donations from Microsoft, as well as contributions from organizations including Accenture and the Rockefeller Foundation. Accenture, one of the founding member of the initiative, announced a $1 million investment during the ID2020 Alliance summit last summer in New York.
David Treat, MD of the global blockchain practice at Accenture said:
"Decentralized, user-controlled digital identity holds the potential to unlock economic opportunity for refugees and others who are disadvantaged, while concurrently improving the lives of those simply trying to navigate cyberspace securely and privately."
The announcement elaborated that digital identity that is user-owned would incorporate government-issued forms of legal identification and concede a seamless authentication process for people and institutions.
"We are building an ecosystem of partners committed to working across national and institutional borders to address this challenge at scale," Dakota Gruener, the Executive Director of the ID2020 Alliance, noted.
Last June, Microsoft and Accenture revealed a blockchain prototype for ID2020, that is powered by a private version of the ethereum blockchain.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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