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25/05/2019
Technology

Meet the First Bitcoin Blockchain-based Decentralized Identity Protocol- “ION” by Microsoft

Microsoft has recently announced the first decentralized identity protocol- “ION”. ION- Identity Overlay Network is in much resemblance to a prior Microsoft project- “Sidetree.” With ION the identifying of several requests at a time will become much faster in comparison to what the current blockchain systems offer- the senior program manager of the company’s Microsoft’s Identity Division- Daniel Bucher said. It is entirely based on Bitcoin blockchain. Microsoft’s team has been working hard for over a year on a “key signing and validation software.”

On the other hand, the co-founder of W3C (World Wide Web Consortium)- Christopher Allen said,

“A lot of enterprise infrastructures use Microsoft products. […] So if they integrate this into any of their infrastructure products, they will have access to DID.”

The program manager of the company- Yorke Rhodes talked about certain types of systems that grant permissions in an enterprise context. These systems, according to Rhodes, will support in recognizing these DIDs.

Despite DID standards being of great use, there are bound to be certain differences in approach towards these kinds of systems. For instance, recently, Facebook has been quite active in creating a native Stablecoin. Earlier in this month, there were reports about the social media giant acquiring rights to the ‘Libra’ trademark for the crypto project that the company has not opened about yet. The reports from the United States Patent and Trademark Office confirmed this move by Facebook. The trademark name was previously held by a crypto tax company called- Lukka.

On the other hand, the social media company is also trying to arrange for an investment of 1 billion U.S. Dollars for its secretive Stablecoin project. Facebook is playing an underdog in the development of its blockchain research team over a year. David Marcus, the vice president, and the former Coinbase board member, is heading this team.

On this, Allen thinks that given that there have not been any efforts from the social media giant towards DID standards, there can be some clashes in the future based on the difference of opinion. The head of DID at ConsenSys- Rouven Heck, called Facebook as “[…] the antithesis of consumer privacy.” Talking of customer privacy matter, recently, the U.S Senate Banking Committee wrote an open letter to the social media giant’s founder and CEO- Mark Zuckerberg. The letter requested the CEO to share details on the new crypto project which the social media is planning to launch. Also, there was a special emphasis on asking about consumer privacy.

‘Microsoft Build developers’ conference’ and the partnership with Starbucks-

Recently, there has been news about the company teaming up with Starbucks at ‘Microsoft Build developers’ conference.’ The main objective behind this partnership is that Microsoft’s Azure blockchain can help in enhancing services from Starbucks. The services will get improved by tracking the journey of coffee bean, and the use of artificial intelligence to better understand the users’ behavior and preferences. The partnership between the two companies will work towards these aims- “Predictive Drive Through Orders, “ Connected Coffee Makers”, and “Bean to cup blockchain.”

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