Why Project Indy is Using Hybrid DLT to Rethink Digital Identity

The single biggest challenge for digital identity systems has been to create counterparts to the secure physical identifiers we use today.

For instance, there has yet been no effective online equivalent to producing your driver’s license at the drug store. And while there are traditional identifiers most people are familiar with online (like the Facebook login), these systems raise key questions about the centralized registries trusted by consumers and the control they have on the systems that secure them.

Now, Project Indy, a blockchain initiative developed by the Sovrin Foundation, is trying to fix this problem using a hybrid distributed ledger platform. As described, the ledger would be public, but in order to interact with it, an invite would be required.

According to Phil Windley, chair of the Sovrin Foundation, the idea is to “strike a middle ground” between permissionless ledgers like bitcoin and permissioned options like R3’s Corda.

“One of the key philosophies of Project Indy is that private information is never written to the ledger, even in encrypted form,” said Windley. “It gets anchored on the ledger so there’s proof that it existed on a certain day.”

Elements of identity are then updated on the distributed ledger to be verified by an agent. In the example of

Read more ... source: CoinDesk

News from Darknet

Let's block ads! (Why?)

Powered by Bitcoin Central