On October 7, tech giant Microsoft reported that the company would establish the next set of phases for an out-and-out blockchain digital identity system. It is reported that earlier in 2018, the firm declared that it will set to begin a decentralized digital identity authentication system based on blockchain technology.
It’s been three years since Microsoft made the announcement; afterward, the company announced a project named “Microsoft Azure Active Directory” in April 2021. Public analysis version of “Verifiable Credentials,” The new phase of the blockchain digital identity system disclosed by the firm has come up with a set of two standards contrasting to previously announced measures.
On the other hand, Microsoft hasn’t had revealed any details of years prior. Still, on this occasion, they included two sets that indicate the statistics of the standards. One of them is to demonstrate a partnership with the decentralized community and concur on a set of standards bolstered by all pertinent associations.
On the flip side, the other is to advance and release the first globally available version of digital identity services drew on the standards concurred with the community people. In addition, Microsoft has also marked off the prime five principles of these two standards –
• Fairness and ease of use
• Safety and Trustworthiness
• Privacy protection and autonomous control
• supervisable and responsible for the environment. Simultaneously, These five standard principles correlated to the apposite functions that the identity system can provide to users.
IT ground has learned that Microsoft has assured that the standard system of the form will never allow or encourage any illegal or breach activities, and it will heed all laws and regulations.
Furthermore, the Microsoft identity authenticator is primarily run on Microsoft’s website and OS. It is worth mentioning that the Microsoft identity authentication system that supports blockchain technology will store data processing on the Blockchain in the future. Even Microsoft cannot view the encrypted data of blockchain once it is processed.