Authentication systems used by most internet users are prone to disruption. Microsoft acknowledges that the same technology powering the Bitcoin network can be of great value in this regard.
More specifically, the company is working on a new project related to online authentication.
Microsoft Looks at Digital ID Solutions
It users Bitcoin technology to let users control their credentials.
This removes the need to trust companies with one’s login details.
At the same time, it also means that consumers need to take the necessary security precautions to keep these details safe at all times.
Launching such a new service would be very interesting, for different reasons.
Digital identities are a very hot topic right now, yet no one has come up with a proper commercial implementation.
Digital IDs are only useful if they can be used on the whole internet, though.
Getting companies and service providers to embrace this new standard will require plenty of convincing.
To make full use of this technology, Microsoft will introduce a layer-two solution on the Bitcoin blockchain.
It combines the InterPlanetary File System with Bitcoin’s blockchain to achieve up to tens of thousands of operations per second.
Competing with existing solutions such as Google or Facebook to authenticate users will pose a wide variety of challenges.
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