Computerworld reported that Microsoft announced "A blockchain-based ID system relies on a digital wallet that serves as a repository for all kinds of personal and financial data – info that can only be shared after a specific request and only with the permission of the owner who holds the public key. (On a typical Bitcoin network, digital wallets store bitcoin currency.)" The May 7, 2019 report entitled "Why Microsoft is building a Bitcoin-based ID verification system" included these comments from Alex Simons (vice president of program management for Microsoft's Identity Division):
We believe every person needs a decentralized, digital identity they own and control, backed by self-owned identifiers that enable secure, privacy preserving interactions,
This self-owned identity must seamlessly integrate into their lives and put them at the center of everything they do in the digital world.
This is a very important announcement!
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
