Microsoft announced recently that it’s planning to develop a decentralized digital identity to enable its customers own and control their private information in a decentralized way through a Bitcoin (BTC) blockchain. The company made the announcement during the recent Consensus 2018 when it had an opportunity to present its paper on ‘Decentralized identity for a decentralized world’.
The company expressed concerns about the user privacy and has decided to design a product that would help solve the problem. With the new service, access to the applications and services on the platform will require one to seek permission from the user before getting the rights to the information. According to Microsoft, the users will store data in a secure, decentralized hub and can access or offer rights to the data anytime they want.
There is an increasing concern on how user data and information can be misused effortlessly. Satya Nadella, CEO at Microsoft believes that the tech industry needs to rethink and come up with strategies to protect its end users to build trust in technology.
Recently, Facebook was criticized after the data of over 87 million users was reportedly misused by Cambridge Analytica, a political consultancy firm based in the UK. Apple and Microsoft have maintained their high standards of privacy and the two firms are always keen on enhancing their systems to retain their public image.
Microsoft is currently focused on improving digital privacy. According to Nadella, privacy is a human right that should be respected. The company intends to portray itself as the most trusted company in the world in comparison to Facebook and Google that have experienced privacy scandals in the recent past.
Microsoft is not the first tech firm to embrace the use of blockchain technology. Amazon Web Service also announced recently that it’s collaborating with Consensys to utilize blockchain tech to secure its business. The move is likely going to encourage the adoption of blockchain technology and other innovative products that are evolving in the industry.