Categories: Bitcoin Business

Microsoft Is Using Blockchain To Conduct Decentralized Identification

Click here to view original web page at usethebitcoin.com

Microsoft has chosen the Bitcoin blockchain to launch Ion, a decentralized project, to facilitate sharing of data between ordinary networks. This becomes the first time a leading technology company is interfacing directly with the Bitcoin platform.

Leading industry experts like Christopher Allen, co-founder of W3C (world wide web consortium) noted that the move by the tech giant signals a revolution in the technology industry. Notably, Microsoft products are widely used by companies across the globe. This makes the decentralized identity solution provided by Ion available to these companies.

It Is Not Haunted By The Scalability Issues Of Blockchain

A vital member of the blockchain engineering team at Microsoft, Yorke Rhodes, had hinted of such a development. However, Rhodes added, although the Ion is built on top of Bitcoin, it can handle “far greater throughput than the underlying blockchain itself.”

“There are systems that we have at Microsoft that give you permission in an enterprise context, a product called Active Directory, that we think need to be able to recognize these DIDs [Decentralized Identity] as well.”

According to Allen:

“To have Microsoft say they are not scared of Bitcoin, and in fact, it has some very good properties and we are willing to take advantage of those properties, is, I think, a step in the right direction.”

Since Ion seeks to provide decentralized identity, Microsoft has been trying to strike a working relationship with Facebook but to no avail.

Facebook is reportedly in the middle of creating a digital currency pegged to the US dollar to help facilitate payments. Unfortunately, Allen notes, Facebook is not making any efforts towards providing decentralized identity and is “absent from community discussions” on the same.

Rhodes noted that Facebook’s rush towards using blockchain technology is not in line with the company’s goals; “their business model is based on the fact that they can monetize data about you.” The US Senate is also concerned about how the social media giant will handle users’ data on its crypto project.

While Facebook is majorly concentrating on using a proprietary system, Microsoft is opting for an open source solution which assists in building the system faster.

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Terrorists are turning to Bitcoin for funding, and they’re learning fast

Representational image of Bitcoin. (File: Bloomberg) By Nathaniel Popper Hamas, the militant Palestinian group, has been designated a terrorist organization… Read More

4 hours ago

Latest Faketoshi says he conveniently ‘lost the hard drive’ containing billions in Bitcoin

Just yesterday we told you how there was a new Faketoshi in town, staking a questionable claim to the Bitcoin… Read More

4 hours ago

Study Suggests Scarcity Could Drive Bitcoin Prices to $60,000 by May 2020

Share Tweet Send Share Bitcoin price predictions have been coming thick and fast in recent months as the world’s top… Read More

4 hours ago

“Bitcoin will never hit 50k” says crypto skeptic Peter Schiff

For a man that wants nothing to do with Bitcoin , economist and Euro Pacific Capital CEO Peter Schiff never… Read More

4 hours ago

Casa Releases Node Monitor Service to Improve Bitcoin Network Health

Casa, a crypto firm that provides a private key management service and Bitcoin node machine, has unveiled a node monitor… Read More

4 hours ago

ETC/ETH Technical Analysis: Ethereum Classic breaks higher

Ethereum Classic vs Ethereum: Classic is making a comeback today An important price level has been broken 0.037673 looks to… Read More

4 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More