Spruce Partners with Etheruem & ENS to Improve Online Identity Verification

2021-9-15 21:07

Applications for blockchain technology remain diverse, with different companies coming up with impressive ideas on integrating the technology.

One novel approach comes from Spruce – a decentralized identity software firm. The company is now working on improving identity verification, and it recently got backing from the Ethereum Foundation.

Work to Begin in Earnest

Earlier this week, Spruce confirmed in a press release that it had secured a partnership with the Ethereum Foundation to help build its decentralized identity verification system. The company would work with the Ethereum Foundation (EF) and Ethereum Name Service (ENS) to develop a secure sign-in module built on the Ethereum blockchain.

Spruce’s network had been selected after the EF and ENS submitted requests for proposals in July. The companies had sought developers who would build a secure sign-in package using Open Authorization (OAuth) – an open standard for access delegation that is frequently used to grant websites or applications access to Intenet users’ data.

As Spruce explained, it will focus on giving users more control of their data. This way, they hope to offer an alternative to big tech companies and platforms, which are notorious for data harvesting. The company added that the EF is the perfect partner, thanks to its user base that runs into the millions. Ethereum is also the largest community of developers in the crypto space, so Spruce has many resources at its disposal with this backing.

Spruce added that it would work closely with the ENS and EF to ensure that its solution is compatible with the Ethereum blockchain’s standards. Success with their project will empower millions of Ethereum users to control their digital identities and seamlessly access the web.

The first step will be user research and building specifications drafts. Core development work is expected to begin shortly.

More Use Cases for Ethereum

Identity management has become a significant focus for the blockchain space. Allowing people to seamlessly access the web while controlling their data could be one of the biggest ways that the industry disrupts traditional tech, and Ethereum has had a major role to play in that.

In July, Numio – a layer-two scaling solution, raised $1.25 million in funding to push into decentralized finance (DeFi). As part of the company’s expansion, Numio will also be building on its identity management system. The system uses zkProofs to let users verify their identities on third-party platforms without sending any identity documentation.

Numio’s authentication solution uses public-key cryptography, which is heralded as more secure than the Time-based One-Time Password (TOTP) used by platforms like Authy and Google Authenticator.

Operations like these are some of the reasons why the Etheruem blockchain remains an incredibly important part of the crypto ecosystem. Ethereum’s profile has risen significantly over the last year, and there has been a lot of talk about its token – Ether – flipping Bitcoin to become the most valuable cryptocurrency.

The post Spruce Partners with Etheruem & ENS to Improve Online Identity Verification first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Sphere Identity (XID) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 XID

identity technology spruce impressive ideas integrating one

identity technology → Результатов: 126


Verizon Business Adds Blockchain Technology To Security Solutions Offerings

Verizon Business has revealed that it is tapping blockchain-based technology to enhance its security services consisting of the new administration as well as identity access systems. The two systems are Verizon Machine State Integrity as well as Verizon Identity (VID) that are developed on top of blockchain technology, the US-based technology company said on March […]

2020-3-7 00:46


Фото:

Socios.com Launching Debit Card with Chiliz (CHZ) Support

Socios. com, a first-of-its-kind project that’s focused on bringing sports fans closer to their favourite clubs and players with blockchain technology and the Chiliz ($CHZ) altcoin, has announced plans to launch SociosID, a blockchain-based identity verification solution and a prepaid debit card that will make it easier for CHZ holders to spend their coins or withdrawRead MoreRead More.

2020-2-25 20:30


Фото:

CULedger’s Blockchain-Based Identity Verification Solution Goes Commercial 

CULedger, a highly reputed United States-based credit union service organization (CUSO),  has announced that its distributed ledger technology (DLT) powered identity verification solution, MemberPass, (formerly known as MyCUID), is now commercially available to market participants, according to a Finextra report on February 24, 2020.

2020-2-24 13:00


SeedCapital invests in blockchain-agnostic identity management solution Spherity

Spherity, a project building decentralized identity management solutions, has announced that the Dortmund-based SeedCapital investment fund is joining its seed financing round. The Spherity team will use the investment to accelerate the development of its core technology to provide interoperable and blockchain-agnostic identity service offerings.

2020-2-13 16:22


Winners revealed for $18K Stratis Smart Contracts Challenge

Stratis, an enterprise blockchain technology company, has announced the winners of its latest hackathon, the Stratis Smart Contracts Challenge. Attracting nearly 200 participants and 13 high-quality submissions, the online hackathon produced a range of smart contract applications spanning finance, law, identity, trade, supply chain, charity, healthcare, and gaming.

2020-1-21 13:10


Фото:

Decentralized Data Storage: Empowering & Protecting Privacy Through Blockchain Technology

Centralized cloud storage services put users’ data at risk due to their architecture which is based on storing information on a single server. Bitcoin has proven to allow the peer-to-peer, censorship-resistant transfer of value and now RIF, powered by RSK, aims to add the identity, storage, communication, gateways, micro-payments, and gateways layers to allow theRead MoreRead More.

2020-1-16 12:00


Фото:

CULedger’s Blockchain Identity Solution Adopted by Three Credit Unions

CULedger, a leading credit union service organization (CUSO) headquartered in Denver, United States, has announced that three credit unions, including TruWest Credit Union, Desert Financial Credit Union, and Unify Financial Credit Union, have successfully integrated its MyCUID distributed ledger technology (DLT) based identity verification solution into their operations, reports FintechFutures on December 16, 2019.

2019-12-17 02:00


Leading automakers to develop blockchain-based vehicle ID network

Leading automakers to develop blockchain-based vehicle ID network - CryptoNinjas The Mobility Open Blockchain Initiative (MOBI), a ledger-agnostic nonprofit foundation to accelerate the use of blockchain technology for smart cities and mobility industries, today announced it is working with BMW, Ford, GM, Groupe Renault, Honda, and other major automakers to develop a multi-stakeholder Proof of Concept (PoC) for a blockchain-based Vehicle Identity (VID).

2019-10-14 14:33


Unification Providing Immutable Blockchain For RegTech One By AML Partners

Unification Foundation and AML Partners announce the integration of Unification's WRKChain technology to provide blockchain immutability as part of AML Partners’ RegTech Platform.   Unification Foundation and AML Partners announce the integration of Unification's WRKChain technology to provide blockchain immutability designed to encrypt and hash verified Due Diligence, Identity, and GRC records as part of AML […] The post Unification Providing Immutable Blockchain For RegTech One By AML Partners appeared first on CCN.com

2019-9-27 17:59


US Congress Passes Bill Ordering FinCEN to Study AI and Blockchain Uses For Law Enforcement

On the 19th of September 2019, the US House of Representatives passed the “Advancing Innovation to Assist Law Enforcement Act.” The on-the-nose bill has mandated the Director of the Financial Crimes Enforcement Network (FinCEN) to push studies within sectors of emerging technology, like blockchains, AI, Digital identity technologies. This is to determine the possible uses […]

2019-9-25 17:45


New Crypto Anonymity-Identity Wallet to be Launched by Civic and BitGo by Q4

According to a recent press release, decentralized identity firm, Civic, and a blockchain security firm, BitGo, have announced plans to release a new wallet sometime in the last quarter of 2019. The new “Civic Wallet” will make use of Multisignature Technology from BitGo and will also support cryptocurrency as well as identity data while ensuring […]

2019-7-25 22:59


Civic launching crypto wallet built on BitGo multisig technology

Civic launching crypto wallet built on BitGo multisig technology » CryptoNinjas Civic Technologies, the blockchain-powered identity, and payment solution provider, and BitGo, a provider of digital asset financial services, today announced the upcoming launch of Civic Wallet, the first consumer digital wallet built on top of BitGo’s multisig technology, to be released in the fourth quarter.

2019-7-23 09:41


Фото:

Fujitsu оценит пользователей для повышения безопасности онлайн-транзакций

Специалисты компании Fujitsu Laboratories представили технологию, позволяющую повысить безопасность онлайн-транзакций. В ее основе лежит оценка пользователей по их предыдущим операциям. Соответствующий пресс-релиз был опубликован на официальном сайте компании.

2019-7-4 15:14


Blockpass to provide blockchain ID service for Polymath STO platform

Blockpass to provide blockchain ID service for Polymath STO platform - CryptoNinjas Security token platform Polymath today announced a strategic collaboration with digital identity verification solution Blockpass, to provide clients of the platform streamlined identity verification, simplifying user onboarding and decreasing required resources in the process.

2019-6-17 12:14


RIDDLE&CODE and Deloitte Look to Work on the Blockchain Tokenization of Industrial Assets

Vienna based Riddle&Code, a provider of blockchain interface solutions and Deloitte an international audit and consulting company have announced an expansion of their partnership. DLT And Machine Identity This collaboration is based on their Combined vision on the significance of distributed ledger technology(DLT) and machine identity.

2019-5-15 03:39