The blockchain is receiving more fanfares in the world of technological titans. Recently, the American multinational tech company Microsoft, as well as IBM’s open-source blockchain project Hyperledger, have decided to swell the ranks of blockchain official supporters as they joined the digital identity initiative, called the ID2020 Alliance. And, apparently, it is based on blockchain technology.
Cheerful Adoption of Blockchain Solutions
But it is not only the technological goliaths which cheered the project. Besides Microsoft and IBM’s ledger, the alliance was joined by the United Nations (UN) International Computing Centre as well as by Mercy Corps – a global humanitarian aid agency.
The support of the ID2020 Alliance was announced on Monday, January 22, at the World Economic Forum (WEF) at Davos, which is in Switzerland. The project’s goal is to make the lives of people better with the help of digital identities supply.
By now, the initiative has collected a massive contribution from Microsoft, worth $1 million. Moreover, the other companies donated their funds for the alliance, including Rockefeller Foundation as well as the founding part of the project Accenture. The last one, by the way, informed that it would pile into the alliance $1 million last year at the project’s meeting in New York.
New Borders For ID
As the World Bank earlier informed, now more than 1.1 billion people struggle with the impossibility to evidence their oneness. Therefore, they merely cannot make use of those advantages and services which are typical for the majority of the global population. But the situation is much more terrifying than that. Often, people who do not have IDs, face human trafficking.
To solve this and many other problems, connected with the lack of people’s identification, the ID2020 Alliance’s team of developers is working on a project related to personal info. While elaborating it, the developers concentrate on user’s straightforward proprietorship and ability to have control over the private data. All of that, of course, will be available with the use of blockchain.
Accenture representative, MD of the worldwide blockchain performance David Treat explained:
"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."
In the press release of the project, it was mentioned that the person’s possessed virtual ID would contain state-emitted forms of lawful authentication. Moreover, it would permit a simple identification procedure for both humans and establishments.