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Mісrоѕоft Eyes Rоlе fоr Publіс Blockchains іn Dесеntrаlіzеd Idеntіtіеѕ

Sоftwаrе gіаnt Mісrоѕоft has ѕаіd it ѕееѕ роtеntіаl for рublіс blосkсhаіnѕ іn ѕuрроrtіng dесеntrаlіzеd іdеntіtіеѕ аnd wіll explore the роѕѕіbіlіtіеѕ wіthіn its Microsoft Authenticator app.

In a blog роѕt rеlеаѕеd on Fеb. 12, Mісrоѕоft’ѕ Identity Division dоublеd dоwn оn іtѕ bеlіеf thаt blockchain tесhnоlоgу іѕ the right solution tо ѕtоrе, mаіntаіn, рrоtесt аnd dіѕtrіbutе users’ іdеntіfісаtіоn іnfоrmаtіоn іn a tаmреr-рrооf аnd dесеntrаlіzеd еnvіrоnmеnt.

Ankur Pаtеl оf Mісrоѕоft’ѕ Idеntіtу Division stated іn the роѕt, “Sоmе рublіс blосkсhаіnѕ (Bіtсоіn, Ethеrеum, Lіtесоіn, tо nаmе a ѕеlесt few) рrоvіdе a ѕоlіd foundation for rооtіng DIDѕ, rесоrdіng DPKI ореrаtіоnѕ, аnd аnсhоrіng attestations.”

That ѕаіd, the соmраnу аdmіttеd thаt scaling іѕ a kеу obstacle before a dесеntrаlіzеd ID аuthеntісаtіоn саn be available fоr mіllіоnѕ оf uѕеrѕ ѕіmultаnеоuѕlу. As ѕuсh the firm еxрlаіnеd thаt іt nоw eyes оn developing additional lауеrѕ to achieve thе scaling gоаl.

“Tо оvеrсоmе these technical barriers, we аrе соllаbоrаtіng оn dесеntrаlіzеd Lауеr 2 рrоtосоlѕ thаt run аtор thеѕе рublіс blосkсhаіnѕ tо асhіеvе glоbаl scale, whіlе рrеѕеrvіng thе attributes оf a world сlаѕѕ DID ѕуѕtеm,” Pаtеl wrоtе.

Fоr now, the fіrm wіll “еxреrіmеnt” wіth dесеntrаlіzеd іdеntіtіеѕ by аddіng ѕuрроrt fоr thеm іntо іtѕ Mісrоѕоft Authеntісаtоr app, whісh is already uѕеd bу mіllіоnѕ wоrldwіdе.

In what соuld be ѕееn аѕ a dіg аt Fасеbооk, which іѕ wіdеlу аnd соntrоvеrѕіаllу uѕеd асrоѕѕ thе internet for ассеѕѕ to different ѕеrvісеѕ and ѕіtеѕ, thе post ѕаіd:

“Rаthеr thаn grant brоаd соnѕеnt tо соuntlеѕѕ аррѕ and services, and have thеіr іdеntіtу dаtа spread across numеrоuѕ рrоvіdеrѕ, іndіvіduаlѕ need a ѕесurе encrypted digital hub whеrе thеу саn ѕtоrе their іdеntіtу dаtа and еаѕіlу control ассеѕѕ tо it.”

Thе аnnоunсеmеnt соmеѕ lеѕѕ thаn a mоnth аftеr Mісrоѕоft аnd blockchain alliance Hyperledger jоіnеd thе Unіtеd Nation’s ID2020 рrоjесt, whісh aims to асhіеvе a secure and verifiable dіgіtаl identification ѕуѕtеm that саn ѕсаlе.

Aѕ rероrtеd, Microsoft dоnаtеd $1 mіllіоn tо the ID2020 initiative durіng thе World Eсоnоmіс Fоrum at Dаvоѕ lаѕt mоnth.

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Blockchain News

Delivery Giant UPS Looks Forward To Blockchain For Streamlining Its Logistics

UPS, which is among the oldest companies in the delivery business, has been through a lot of changes over the years. The 110-year old company right now believes that blockchain could be the next chance to streamline its delivery logistics.

The news comes from documents published by the US Patent & Trademark Office (USPTO) in which the Georgia-based delivery giant seems to have applied for a patent that utilizes blockchain and distributed ledger technology (DLT) all in order to route packages throughout an international supply chain.

The blockchain system will also help the packages which include multiple carriers. Originally filed on February 16th, this patent is believed to increase efficiency and minimize costs for UPS – especially when it comes to coordinating logistics for shipments that involve more than one service provider.

As the authors of the application explained:

“[T]here may be scenarios in which it is advantageous for various logistics service providers to transport the shipment unit along different legs/segments from its origin to its destination. However, it may be difficult to coordinate the transportation of the shipment unit through the various logistics service provider transportation networks. Moreover, if there are special handling requirements for transporting the shipment unit, it may be difficult to ensure that the special handling requirements are carried through by each of the various logistics service providers that may assist in transporting the shipment unit.”

Right now, UPS plans to tackle the problems with an autonomous system that will use an immutable blockchain ledger to route packages through multiple logistics service provider networks.

That way, the system will select routes for automatically-scanned packages (ready for delivery) – all based on the service offerings of the network-connected shipping providers.

“Accordingly, various embodiments may comprise and/or utilize digital currency/assets represented by ledger entries. Such digital currency/assets (e.g., Bitcoin, Ether, and/or the like) may itself have value that may be exchanged for various shipment units, services, and/or the like.”

With this, UPS believes that it can integrate its system, reduce the costs and increase efficiency as they fulfill the obligations with a particular leg on each shipment.

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Bitcoin News

Pantera Capital CEO: ‘If Bitcoin Is Rat Poison, Banks Are The Rats’

Pantera Capital, which is one of the leading investment firms in the crypto space, seems to have an optimistic look at cryptocurrencies despite the current market downturn.

As the CEO and chief investment officer at the firm Dan Morehead stated during a digital asset funds conference this Tuesday, blockchains are the next step in the evolution of equity. In that way, cryptocurrencies are a superior form of currency.

Morehead also called Bitcoin “the biggest disruption of this generation”. As a well-known optimist who stated that the combined crypto market cap could climb to $40 trillion one day, he also pointed out some statements towards the regulation and adoption of cryptocurrencies by banks.

He addressed his thoughts in the same way as Warren Buffett did earlier this year, noting the ‘rat poison squared’ rumor about Bitcoin, stating:

“It is rat poison; it’s just the banks and credit card companies are the rats.”

When asked if now is a good time to buy crypto, Morehead stated:

“That’s actually a good time to increase your position. It is highly likely to be the low point for the industry. My normal view is that it is going to return to its trend”

Morehead remains positive and optimistic about the long-term scenario of blockchain technology and cryptocurrency. As he said, blockchains are the “final piece” of the protocol structure that describes the Internet – and a way to move funds without paying high fees.

Bitcoin, according to him, is not a category killer but a “serial killer” which means that it will affect many different use cases.

“I think we’re heading towards a post-capitalist era. Now, we’re going to have ‘cooperatively owned’ technologies that are very valuable.” Morehead concluded.


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Blockchain News

Ethereum-Backed Platform Plans To Invest $5 Million In Blockchain Gaming Startup

Decentraland is a new decentralized user-owned virtual world built on the Ethereum blockchain which is now planning to invest $5 in order to fund blockchain gaming projects on the Decentraland platform.

So far, Decentraland created the Genesis Content Program which allows developers to submit proposals for “blockchain games” as well as “interactive experiences” built within the platform.

The new plans were first outlined in an article that the company published on Medium, where it said that it plans to “welcome larger and more ambitious projects” to the platform. According to Decentraland, the new program will encourage “innovation and growth in decentralized online gaming” in addition to the $5 million in project financing which will be shared among the top applicants.

Game developers will see a massive benefit here, as they are presented with a new interactive opportunity to design their “virtual experiences” through blockchain-based games. They can provide these experiences on the platform while monetizing them with tokens.

LAND is the new innovation which is basically a virtual place of property that players can purchase through the Decentraland Marketplace. Here, game developers will need to develop their games to “fit the parcel boundaries” of the LAND, making room for more games that will be remotely accessed within the virtual platform (city) and its LAND parcels.

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Blockchain News

IBM Just Filed A Patent For A Blockchain Database System

One of the biggest industry giants and tech disruptors, IBM, has recently filed a new patent that focuses on certain parts of blockchain technology.

According to one published document, the patent is named “Managing a Database Management System using a Blockchain Database” and fully explains IBM’s intention to build a reliable database tempering detection system (IDT-DS). The system would detect inconsistencies in a set of data stored in a central database which concerns a copy of the same data stored on a blockchain database.

As the patent read:

“Aspects of the disclosure include a method, system, and computer program product for managing a database management system (DBMS). A central database to include a set of central data may be structured with respect to the DBMS. A blockchain database which is linked with the central database may be constructed with respect to the DBMS. A set of blockchain data may be established in the blockchain database corresponding to the set of central data of the central database.”

The system will work in a simple way. In order for it to be accessed, there needs to be an access request to the DBMS. In response to it, both the central database and the blockchain database would be maintained.

First filed in December 2017, this patent got refreshed right now – again proving the mutual interest that IBM has towards blockchain – just like the US Patent and Trademark Office (USPTO), which has so far awarded six distributed ledger-related patents in 2018.

With this, IBM has confirmed the giant corporations’ race to patent blockchain – and begun the next big battle among corporations for the upcoming technological revolution which is brought by the blockchain.

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