THELOGICALINDIAN - Deployed on the Bitcoin mainnet back March 2024 the ION Decentralized Identity Arrangement is one of the best agitative projects in the crypto amplitude at the moment This secondlayer band-aid operates as a permissionless accessible arrangement to abutment Decentralized Identifiers DIDs and Decentralized Accessible Key Infrastructure DPKI
The activity has been developed by Microsoft and it has objectives that best usually don’t accessory with the tech giant. ION seeks to accommodate individuals and added entities abounding ascendancy over their claimed abstracts and its exchanges.
When it was launched, Daniel Buchner, Senior Product Manager for Decentralized Identity at Microsoft said that the Bitcoin-based band-aid was created to accomplish after third parties. ”ION answers to no one but you, the community”, Buchner added.
During the Miami Bitcoin Conference 2021, account website Reason interviewed Buchner to allocution about the project’s abeyant to actualize a “new era of hype-individualized online character and privacy”. Therein, he claimed that ION operates like Bitcoin, in the faculty that users can advantage the basal technology to own their money.
ION enables users to own their own identities to be activated in assorted use cases. For example, a user can log into a website and get accreditation after third-party validation. “You are the alone one to prove this ID and no aggregation owns it”, Buchner said.
The band-aid is accessible via a accessible examination alleged Azure absolute credential service. The Senior Product Manager emphasized that accreditation are the aboriginal use case for the ION. This will accredit anybody to affair diplomas and added abstracts with abiding and accurate advice anchored by the Bitcoin network.
What The Future Of Identities Running On Bitcoin Could Look Like
As a aftereffect of these use cases, Buchner believes businesses can be optimized and bargain assertive costs. He added that character has been larboard out in the agenda advance that has been implemented in abounding sectors beyond the accomplished two decades. ION leverages Bitcoin to accompany people’s advice and aloofness to the agenda era.
The activity faces a above claiming in development, as it struggles to actualize a added “human interface”. Unlike added services, a DID can be lost, aloof as you can lose Bitcoin in a adamantine drive, Buchner added. The activity is exploring careful technologies, but users will charge added “awareness” and booty on added responsibility, he said.
In addition, a being can affair assorted IDs, and this can be acclimated for altered scenarios. For example, a being could accept a accord ID, a assignment ID, and so on. Thus, bodies can baddest and ascendancy how abundant advice others can access.
Microsoft has an absorption in this technology due to their pale in identities for enterprises via the Azure Active Directory, a account acclimated by the “vast majority of action in the planet”. Although the tech behemothic can’t ascendancy ION, Buchner explained that this aspect is extraneous to the amount of Microsoft’s business.
At the time of writing, BTC trades at $33,571 with alongside movement in lower timeframes.
