Veridium has become a backer of the Sovrin Network, an identity platform based on blockchain technology.
Administrated by the non-profit Sovrin Foundation, the platform is envisioned as a kind of global, public utility that is independent of government and business interests. The Sovrin Network is meant to store end user information on a distributed ledger, ensuring that a wide range of people and organizations can perform secure transactions online.
Veridium is now, in the parlance of Sovrin, a ‘founding Steward’ of the network, joining other major backers including Cisco, Deutsche Telekom, and IBM. Sovrin Stewards commit to offering network, hardware, and security resources to support the Sovrin Network’s operation.
For its part, Veridium appears to be well-suited to Sovrin’s project, given its focus on biometric authentication – a mechanism that can be used with blockchain identity platforms to protect the personally sensitive information of end users while still verifying their identities.
As Sovrin Foundation Executive Director Heather C. Dahl explains in a statement announcing the partnership, “Veridium understands that identity cannot be securely boiled down to simple usernames and passwords,” and both organizations “are working to solve the problems of digital identity in complementary ways and this is going to be a hugely beneficial collaboration.”
July 12, 2018 – by Alex Perala