Centralized ways of proving identity may soon have an expiration date.
A lofty claim, perhaps, but the idea is arguably bolstered by the launch this week of a functioning blockchain prototype this week built by Microsoft and Accenture. The technology could one day allow users to accumulate verified information about their identity in a profile they control.
Instead of permanently handing over that information to a university, a healthcare provider or a potential employer, the owner of the identity could choose exactly who gets access to what data – and for how long.
The global head of Accenture’s capital markets blockchain practice, David Treat, explained in the first live demo of the prototype how any number of identity sources can be aggregated under a single profile.
Speaking on stage at the ID2020 conference hosted earlier this week, Treat explained:
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