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Since publishing the story, Digital Trust has got in touch to say that the original report by BCN was innacurate. We have corrected the headline and the article to accomodate the new information. We apologize for the error.
The DID Alliance is running a decentralized identity trial, according to a report by BCN Media. The project will seek to build a Global Architecture for Digital Identity (GADI).
Decentralized identity is the idea that each person would possess a card, or a form of identification, that they could use to confirm their identity. But rather than having a centralized government storing the information, it would stay in the hands of the individuals. New technology, such as blockchain, is helping to make this happen.
Proof-of-concept trials are currently under way, and the launch of a Minimum Viable Product (MVP) is expected by the end of July. The main goal is to trial concepts related to standards about a trust root for decentralized credentials and portability of those credentials across various blockchain ledger based identity platforms.
The DID Alliance was formed in July 2019 with the backing of Samsung, and went on to attract the participation of some of South Korea’s largest banks. Decentralized identity is a market that’s hotly contested in the blockchain space, and has been floated as a solution to a wide range of problems—from payments to politics.