Blockchain Consortium R3 To Test Digital ID Application Developed By Dutch Security Company

Blockchain consortium R3 joins Gemalto, a global leader in digital security, to test a digital ID application. The application is named Trust ID Network which enables users to provide their proof of identity digitally.

Corda platform is the world’s first enterprise blockchain solution built by R3. Gemalto is testing its Trust ID Network application on the latest rendition of the Corda platform. It will provide full privacy, security and integration for service providers. The mission critical identity services will be accomplished by the ability of Corda platform.

Blockchain technology is ideal for supporting trusted and verified identities. With Trust ID Network, client control is facilitated through the ID Wallet, a convenient and secure mobile app. Only ‘validations’ issued by trusted parties are stored on the blockchain, holding personal information under the sole control of clients.

David E. Rutter, CEO of Blockchain Consortium R3 said, “empowering customers to manage and control their own digital identity based on blockchain technology is nothing short of revolutionary, and we’re very pleased to be collaborating with Gemalto on the Trust ID Network,” He also added that Corda platform’s unique privacy features offer the ideal basis for a secure, easy-to-deploy decentralized ID management platform.

By creating and managing their own ‘Self-Sovereign’ Digital ID, users can enroll with a host of different digital banking, eCommerce and eGovernment administrations. Financial institution ideally positioned to lead the self-sovereign Digital ID revolution.

According to CoinDesk report, the annual London gathering hosted by R3 was held to celebrate everything happening on Corda platform. The event had seen 1150 registrations over two days. The headline news here was the launch of Corda Marketplace, a place where you can discover new partners to help you build CorDapps. After the success of the event, Corda platform is now supporting Gemalto.

As per the Gemalto’s announcement, blockchain consortium R3 is already working with over 200 financial institutes and other companies worldwide. A wide range of stakeholders is invited in the Trusted ID Network pilot launching this year.

The post Blockchain Consortium R3 To Test Digital ID Application Developed By Dutch Security Company appeared first on OWLT Market.

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