Top Bitcoin Companies Propose the Windhover Principles - A New Digital Framework for Digital Identity, Trust and Open Data
ID3, founded out of the MIT Media Lab, has teamed up with nearly two dozen leading digital currency firms to announce the Windhover Principles. ID3 is a research and educational nonprofit with a mission to develop a new social ecosystem of trusted digital institutions. The Windhover Principles constitute the next step forward in this direction and provide a new framework written by public and private stakeholders to ensure personal identity and data on the web. The Windhover Principles for Digital Identity and Trust are deeply rooted in the belief that individuals should have control of....
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To members of more than 20 digital currency companies, the broad increase in financial access the industry hopes to achieve is currently being impeded by issues that go beyond finance and technology to defining transparency and identity in the digital age. Expanding access to financial services through not just digital currency, but new systems that allow businesses to establish trust and lower the cost of financial services, lies at the heart of the Windhover Principles. The new framework was introduced by the Institute for Data Driven Design (ID3), a non-profit founded out of MIT Media....
Regardless of how people want to look at it, creating a digital identity hinges on the trust factor. Digital identity if quickly becoming the new buzzword, as the topic was touched upon during the recent ID2020 conference. However, there are a lot of concerns regarding this initiative, as the big question will be whether we should trust a digital identity or not. Can the blockchain put some of these concerns to rest? Creating a Digital Identity is Difficult. In this day and age of digitization, a lot of people seem to be in favor of creating digital counterparts of anything, ranging from....
What is a decentralized identity, and why does it matter? In this guide, we break it down for you. Decentralized identity protocolsSeveral identity protocols, from crypto startups to big tech solutions, deal with decentralized identification, and each has its specifics and features.Though the decentralized identity technology is fairly new, initiatives and players in the decentralized identity space, software for implementing decentralized identity wallets and supporting services are plentiful. They range from the Hyperledger open-source developing community, through a range of....
Lawmakers in the U.S. have introduced the Digital Commodity Exchange Act of 2020 to create a single, national regulatory framework for cryptocurrency trading platforms, including those that trade bitcoin, ether, their forks, and other cryptocurrencies. On the same day, the Securities Clarity Act was also introduced. Digital Commodity Exchange Act of 2020 The bill entitled “Digital Commodity Exchange Act of 2020 (DCEA)” was introduced by U.S. House Agriculture Committee Ranking Member Michael Conaway on Thursday. He explained that the proposed legislation “creates a....
Developing self-sovereign identity should be a leading priority for every company, legislator and investor engaged in the security industry. To navigate well in a digital world, we must be able to easily and securely establish our digital identity. Traditionally, a username, password and some trivial arcana like our first pet’s name have been key pieces of information held by institutions to establish our digital identity. Unfortunately, this system has come at a high cost.Trusting third parties to securely hold our personal data is a risky — and often losing — proposition. The number of....