Check This Out - Microsoft's Now Offering A Bitcoin-Based ID Verification System!

FL
Foley & Lardner

Contributor

Foley & Lardner LLP looks beyond the law to focus on the constantly evolving demands facing our clients and their industries. With over 1,100 lawyers in 24 offices across the United States, Mexico, Europe and Asia, Foley approaches client service by first understanding our clients’ priorities, objectives and challenges. We work hard to understand our clients’ issues and forge long-term relationships with them to help achieve successful outcomes and solve their legal issues through practical business advice and cutting-edge legal insight. Our clients view us as trusted business advisors because we understand that great legal service is only valuable if it is relevant, practical and beneficial to their businesses.
This self-owned identity must seamlessly integrate into their lives and put them at the center of everything they do in the digital world.
United States Technology

Computerworld reported that Microsoft announced "A blockchain-based ID system relies on a digital wallet that serves as a repository for all kinds of personal and financial data – info that can only be shared after a specific request and only with the permission of the owner who holds the public key. (On a typical Bitcoin network, digital wallets store bitcoin currency.)"   The May 7, 2019 report entitled "Why Microsoft is building a Bitcoin-based ID verification system" included these comments from Alex Simons (vice president of program management for Microsoft's Identity Division):

We believe every person needs a decentralized, digital identity they own and control, backed by self-owned identifiers that enable secure, privacy preserving interactions,

This self-owned identity must seamlessly integrate into their lives and put them at the center of everything they do in the digital world.

This is a very important announcement!

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More