Microsoft Corporation (NASDAQ:MSFT) Heaps Praises On The Public Blockchains

Microsoft Corporation (NASDAQ:MSFT) has been scrutinizing the behavior of current blockchain projects for over quite some time in a bid to identify flaws and the artificial centralization. In its latest statement, the software giant disclosed that it had identified one strong use case of blockchain technology. Fundamentally, that would be about coming up with a system of digital identities with the capability to follow up the trend of mingling the world of online services with the real world.

The Director of Program Management at the Microsoft Identity Division Alex Simons while addressing several journalists said that in the past 12 months they had done pretty much in terms of channeling funds to the incubation of a set of ideas for using Blockchain as well as a wide range of other distributed ledger technologies. That was in a bid to generate new types of digital identities targeted at enhancing personal privacy, control and security as well.

In the current times, having an online identity is about data sharing with a wide array of apps and it is crucial to point out the great need for handing over information in the most appropriate way. Microsoft’s goal at the moment is to do all that it takes in order to return the ownership of electronic identity to the user.

An officail working with Microsoft’s Identity Division Ankur Patel emphasized on the great need for anyone to have a secured digital identity. According to him, it is about getting one that securely and privately stores all elements of one’s digital identity.

He asserted that the self-owned identity needed to pull along with great ease of use adding that it was also supposed to offer one paramount control over how his or her identify data would be used or accessed.

Mr. Patel opined, “At the moment, identity systems handle the consumer data directly, and include matters of access and verification. But a self-owned, encrypted identity would mean that all apps would end up communicating with only the protected customer data.”

The official delved deeper into the matter to say that the existing blockchains were part of that particular infrastructure.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of journaltranscript.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:

https://www.journaltranscript.com/disclaimer

Let's block ads! (Why?)