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R3 Partners With Dutch Tech Company to Pilot Blockchain-Based Digital IDs

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R3 consortium and Dutch digital security company Gemalto have partnered to pilot a blockchain-based digital ID solution.

Blockchain consortium R3 has deployed a digital ID application developed by Dutch digital security company Gemalto on the latest version of the Corda Platform, according to an announcement published September 18.

Corda is an open-source blockchain-powered platform developed for financial establishments by R3 in collaboration with more than 200 of its partners. The platform is geared to work within finance to operate massive transactional volumes and restrict access to transaction data.

The parties expect to conduct several pilots of the application — called the Trust ID Network —  that will reportedly be launched later this year.

Per the announcement, Trust ID Network enables digital service providers to operate “fully verified and secured” user personal data by creating a Digital ID. Consumers can register within various banking, e-commerce and e-government services while avoiding repeated due diligence procedures in each instance.

The integration of Trust ID Network will reportedly allow users to control their data through a mobile app dubbed ID Wallet, where they can enter, certify, and share their personal information with specific service providers. Bertrand Knopf, EVP of Banking and Payment for Gemalto, explained:

“Trust ID Network solves the profound weaknesses of traditional, ‘siloed’ identity frameworks: the clumsy user experience, rising costs and difficulties in complying with stricter regulations… Financial institutions are best-placed to lead this self-sovereign identity revolution, but it will prove similarly attractive to a wide array of other service providers.”

In July, R3 released a “version” of its Corda blockchain platform aimed specifically at businesses. The new version of the platform is reportedly “optimized to meet the demands of modern day businesses,” and includes a “Blockchain Application Firewall” to enable the platform operate within corporate data centers and still communicate with Corda’s nodes.

Home Crypto Mining 100k Bitcoin in 2018!
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100k Bitcoin in 2018!

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HashFlare

100k Bitcoin in 2018!

Is Bitcoin going to 100k in the year 2018? Many analysts are predicting a bullish Bitcoin for the remainder of the year and I tend to agree with them. I feel that we are finally seeing the light at the end of the Bitcoin bear tunnel and are ready for the bulls to come out!

Famous Venture Capitalist Tim Draper was on Bloomberg two days ago, sharing his thoughts on why Bitcoin will be worth a lot more than what it is today. Incase you do not know, he’s the guy who predicted in 2014 that Bitcoin would hit $10,000 in three years. And he was spot on! Now he is predicting a $100,000 Bitcoin in 2018 and a 250k Bitcoin by 2020! Is he correct? Only time will tell, but we are definitely living in some exciting times!

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Comment(27)

  1. Do not listen to the mainstream media and all the negativities they broadcast about the volatile nature of bitcoin. If you invest smartly in bitcoins you will definitely achieve financial independence. Do you have bitcoin?do you know you can mine 0.5btc in five days or 1.8btc in three weeks if you want to do so then Mr Collins Batts mining system would work best for you,link through collinsbatts5@gmail.com.some person’s will say the price of bitcoin is low and not profitable..The truth is that very soon the price of bitcoin will sky rocket,it’s working for me. I appreciate your assistance sir.

  2. $100,000?? Too optimistic. The war is on with Banking afraid of Cryptocurrency. China moving to regulate. I’m more with Classen. Watch for a $35,000 at end of Q4.

  3. Saw an analysis today, and it compared bitcoin to an flue, and found that bitcoin will never again see 20k, and that it would loose value over time, since the all world now is infected, and there are no more vitims to infect. You forgot to include that analysis. It came from Barclay.

  4. dont get fooled, avoid cloud mining, if you want to get inbitcoin/ altcoins, guys/ladys, buy ur own stuff,
    yes its not cheap, but you have all in ue own hands, and if it cost to much on power, develop search to
    make ur own power, yes it will cost a bit, but ur good for about 20 years, if you did not make it back hm hm…..
    second, just buy coins what ur budjet alow, once again, dont believe in a 40k 60k 100k coin it wont happen
    right now, i’m 50yrs and i hope next generation will make something good of it, coz till now its miss used
    by people yeah you know all, but thy dont show, there nose bleed, huh goverment suckers, no we hurt of them
    thanks guys/ladys, my 5cent of tought
    i’m from belgium

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