Microsoft: The Future of Digital Identity Protection Lies with Blockchain

Identity fraud is a growing problem in the digital era, but so is the lack of any legally verifiable identity at all. Microsoft believes a solution to these and other identity management issues can be found in blockchain and other distributed ledger technologies (DLTs).

Over the past year, Microsoft has been exploring a number of new ways to use digital technology for more secure and private identity management. The company has been working with the Decentralized Identity Foundation, recently joined the ID2020 Alliance as a founding member, and today announced that it will begin experimenting with new identifier formats through its Microsoft Authenticator app.

Based on cryptographic concepts similar to those used for bitcoin and other cryptocurrencies, blockchain systems for identity management are designed to validate and protect digital information and ensure trust through a decentralized community of online users. Microsoft said such technologies could not only protect people against identity fraud and theft, but could also help overcome the "identity gap" that leaves one in six people worldwide, including millions of refugees, without proper documentation that ensures their legal rights.

Needed: 'A New Model for Digital Identity'

"As many of you experience every day, the world is undergoing a global digital transformation where digital and physical reality are blurring into a single integrated modern way of living," Ankur Patel, principal program manager for Microsoft's Identity Division, wrote yesterday in a blog post. "This new world needs a new model for digital identity, one that enhances individual privacy and security across the physical and digital world."

The incidences of identity fraud reached a new high in 2017, affecting 15.4 million people in the U.S. and causing $16 billion in losses, according to a study released earlier this month by Javelin Strategy & Research. Meanwhile, the ID2020 Alliance estimates that 1.1 billion people...

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Microsoft: The Future of Digital Identity Protection Lies with Blockchain

Identity fraud is a growing problem in the digital era, but so is the lack of any legally verifiable identity at all. Microsoft believes a solution to these and other identity management issues can be found in blockchain and other distributed ledger technologies (DLTs).

Over the past year, Microsoft has been exploring a number of new ways to use digital technology for more secure and private identity management. The company has been working with the Decentralized Identity Foundation, recently joined the ID2020 Alliance as a founding member, and today announced that it will begin experimenting with new identifier formats through its Microsoft Authenticator app.

Based on cryptographic concepts similar to those used for bitcoin and other cryptocurrencies, blockchain systems for identity management are designed to validate and protect digital information and ensure trust through a decentralized community of online users. Microsoft said such technologies could not only protect people against identity fraud and theft, but could also help overcome the "identity gap" that leaves one in six people worldwide, including millions of refugees, without proper documentation that ensures their legal rights.

Needed: 'A New Model for Digital Identity'

"As many of you experience every day, the world is undergoing a global digital transformation where digital and physical reality are blurring into a single integrated modern way of living," Ankur Patel, principal program manager for Microsoft's Identity Division, wrote yesterday in a blog post. "This new world needs a new model for digital identity, one that enhances individual privacy and security across the physical and digital world."

The incidences of identity fraud reached a new high in 2017, affecting 15.4 million people in the U.S. and causing $16 billion in losses, according to a study released earlier this month by Javelin Strategy & Research. Meanwhile, the ID2020 Alliance estimates that 1.1 billion people...

Comments are closed.