Published By : 21 Jun 2017 | Published By : QYRESEARCH
Microsoft and Accenture are coming together to build a blockchain-based digital ID network. The Information Technology giants introduced a prototype of the network on Monday, June 19th at the UN headquarters during ID2020 summit, which is a public-private collaboration, dedicated to endorsing the UN’s Sustainable Development Goals (SDGs) of providing legal identity to 1.1 billion people, residing across the world with no official document, by 2030.
With this project, both the companies intend to support such individuals, who need to prove their identity in order to gain access to basic amenities, such as healthcare and education. Blockchain, initially introduces as a public ledger of each and every transaction in bitcoin, is increasingly being utilized to track data securely in various other fields.
Prototype Built on Existing Accenture Platform
“The most prominent advantage of blockchain is that it permits systems of different enterprises to communicate with each other,” said Yorke Rhodes, the global business strategist, Microsoft. An existing Accenture platform was used to build the prototype, which supports the biometric identity management system utilized in the UN High Commissioner for Refugees.
“Without an identity, one cannot access a number of basic services, such as financial services, education, and healthcare. A person is disenfranchised and marginalized from the society without an identification proof,” David Treat, the managing director, Accenture's financial services, said in an interview. The current record-keeping systems of public and commercial entities are linked through the new platform using blockchain, allowing the users to have an access to their personal information whenever and wherever they are.