Crypto News Flash #94: Microsoft Is Looking Forward To Implement Blockchain Based ID System In Its Current Applications !!

Blockchain Technology is revolutionary, that's for sure. With the inception of this technology, some new projects like Bitcoin have received the World wide attention. Now, the traditional Multi National Companies along with the Large Financial Institutions are looking forward to use this technology to make their already existing operations more efficient and effective. 

The latest of those MNC is none other than Microsoft. Microsoft recently announced that it'll use Blockchain based decentralized ID's into the Microsoft Authenticator App in order to make it more efficient and reliable.

Microsoft is planning to use Blockchain to develop new model of Identity security which wouldn't be controlled by any centralized authority and all the data access will only be reserved to the person it belongs to, enabling the full control into the hands of said person on his/her private data.

After considering many applications and technology to make this happen, Microsoft finally ended their search on Blockchain Technology because as per their opinion, Blockchain would be more than efficient and perfect for this purpose. As per this Source, Microsoft official said this recently:

“Some public blockchains (Bitcoin [BTC], Ethereum, Litecoin, to name a select few) provide a solid foundation for rooting DIDs, recording DPKI operations, and anchoring attestations.”

For now, Microsoft will be using Blockchain Technology to decentralize their Authenticator app and to manage its cryptographic keys in a decentralized manner.

Well, the conclusion is, Blockchain Technology is here for staying and in Future, many companies are looking forward to use it. 

Thanks for reading ...!!

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