Yesterday a consortium of 17 firms launched a new distributed identity alliance (DID Alliance) in China, the Daily Economic News reported. The consortium is led by state-owned China Banknote Blockchain Technology Research Institute and Feitian Technology and includes numerous big names such as Baidu, Tencent Cloud, WeBank, JD.com and UnionPay Electronic Payment Research Institute.
Initially, the group will investigate four aspects. First off, it will research the current state of digital identities, such as distributed public key infrastructure cryptography, credentials, and DID’s advantages. Secondly, it will explore commercial applications, including cross-industry projects.
Next, it aims to build a DID network in China using open source technologies. And finally, it plans to adopt international standards and create a bridge between local companies and international digital identity alliances.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
