R3 collaborates with Dutch Tech Company to drive blockchain-based digital IDs


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

Corda is a blockchain-based open source platform developed for R3 financial institutions in collaboration with over 200 of its partners. The platform is geared towards working in the financial sector to handle massive transaction volumes and limit access to transaction data.

The parties plan to conduct several application pilots – called Trust ID Network – which will be launched at the end of the year. [19659002] According to the announcement, Trust ID Network allows digital service providers to use "fully verified and protected" user personal data by creating a digital ID. Consumers can register for various banking, e-commerce and e-government services, avoiding repeated due diligence procedures in each case.

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

"Trust ID Network solves the profound weaknesses of traditional" siled "identity systems: the awkward user experience, the increased costs and difficulties in Comply with stricter regulations … Financial institutions are best placed to drive this self-sufficient identity revolution, but will prove equally appealing to a wide range of other service providers. "

In July, R3 released a "version" of its blockchain platform specifically aimed at companies. The new version of the platform is "optimized to meet the needs of modern companies" and includes a "Blockchain Application Firewall" to allow the platform to operate Inside the company data centers and still communicate with the nodes of Corda.

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