• Tue, 10 Dec 2019, 06:28 PM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Barclaycard partners with blockchain startup Evernym on self-sovereign identity

Photo: Business Advice

Mon, 10 Dec 2018, 07:01 am UTC

Barclaycard, a credit card and payment services provider and a division of Barclays, has announced its plans to explore the benefits of “self-sovereign identity” (SSI).

Self-sovereign identity is the concept to enable people, organizations, and things to securely and privately store and control their own identity data, allowing them to share verifiable proof of who they are, for life. It could replace usernames and passwords, and even form-filling, forever.

On these lines, Barclaycard Payment Solutions (BPS) Innovation team is joining blockchain startup Evernym in the latter’s 12-month Accelerator programme.

Evernym is the company behind Sovrin – a body focused on developing, building, and promoting SSI. Based on blockchain technology, the Sovrin Protocol creates a unique, digital identifier that can be used to verify proof of identity anywhere and at any time. According to the whitepaper, the Sovrin protocol is based entirely on open standards and open source—the Hyperledger Indy Project.

After a year of sandbox and alpha testing, the Sovrin Network was formally launched on July 31, 2017, with a genesis transaction between the first 10 participating organizations known as “stewards”. In November 2018, Evernym launched the Accelerator Program with 15 founding members, including ATB Financial, IAG, Irish Life, the International Federation of Red Cross, Spark New Zealand, Truu and three provincial and state governments.

Through the accelerator programme, BPS will focus on developing “a commercial proposition in a safe test environment and further explore the customer, business, legal and technical benefits of SSI.”

“We are excited to be involved with the Accelerator Program which is helping us develop our strategic response to SSI market opportunities. With access to Evernym’s insight, tools and expertise, we are really able to speed up our learning about Sovrin and self-sovereign identity. And most importantly, we can rapidly develop solutions that solve real customer and business problems,” Ed Black, Director of Innovation at Barclaycard Payment Solutions, said.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,273.39 (-2.75%)
  • Ethereum (ETH) $145.77 (-1.95%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $207.03 (-1.39%)
  • Litecoin (LTC) $44.45 (-1.46%)
  • Bitcoin (BTC) $7,273.39 (-2.75%)
Dec 10, 2019 (Tuesday)
12:09
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:09
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:29
Crypto Technicals: XMR/USD fails at 21-EMA, bearish bias builds, scope for downside resumption
10:32
LedgerX founders temporarily replaced after derivatives provider collided with CFTC
10:28
BNY Mellon, Credit Suisse moved funds for Telegram during $1.7B token sale: Report
08:42
Crypto Technicals: BCH/USD extends range trade below 5-DMA, resumption of weakness to see dip till 187 (Trendline)
06:40
Crypto Technicals: XRP/USD capped at 21-EMA, extends weakness for the 2nd straight session
06:38
Brazil to impose fines on individuals failing to declare cryptocurrency transactions
06:06
Huobi US to cease operations on Dec. 15
05:19
Bakkt launches options and cash-settled futures products
05:13
Crypto Technicals: ETH/USD capped at 20-DMA, 'Bearish Engulfing' to plummet prices
04:53
South Korea to impose capital gains tax on crypto transactions; Bill slated for introduction in 2020
04:21
Crypto Technicals: BTC/USD rejected at 21-EMA, invalidates scope for upside
03:17
Italian copyright pioneer collaborates with blockchain firm to protect intellectual property
03:14
China to launch first phase of digital currency pilot program by end of 2019: Report
Dec 9, 2019 (Monday)
16:11
Blockchain-based social media platform Voice to release public beta in February 2020
14:49
Crypto exchange OKEx to launch options trading this month
13:19
Cryptocurrencies could replace fiat currencies by 2030, says Deutsche Bank
12:52
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:52
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft