Why Microsoft is building a Bitcoin-based ID verification system
Credit to Author: Lucas Mearian| Date: Tue, 14 May 2019 03:00:00 -0700
After more than a year in development, Microsoft has chosen Bitcoin as the blockchain platform for a decentralized identification (DID) verification system that will allow users to have secure access to an online persona via an encrypted database hub.
The implications of the new ID network could include the elimination of passwords. A company would be able to verify the background of a new employee and onboard them with the click of a single virtual button, or a banking customer could verify their identity for a loan without exposing personally identifiable information – again with a click of a button.