Microsoft’s blockchain obsession is getting out of hand as it moves onto yet another new project. This follows its announcement of Microsoft Azure Blockchain Service.
The tech company has revealed that it is planning to create a decentralized identity network (DID) with the help of Bitcoin (BTC) blockchain. This system is currently regarded as the most reliable in the ecosystem.
Microsoft Azure Blockchain based DID
Using the Blockchain based DID, the company is keen to drop its software users login details. Instead, the tech giant, under the new system will give its users the liberty to manage their identity. They can use identity independent of any company as they deem fit.
Microsoft said:
We believe every person needs a decentralized, digital identity they own and control, backed by self-owned identifiers that enable secure, privacy-preserving interactions.
This self-owned identity must seamlessly integrate into their lives and put them at the center of everything they do in the digital world.
Microsoft Azure Blockchain based DID is also expected to reduce hack and leak possibilities, thanks to the absence of any centralized pools of data.
How Microsoft’s blockchain obsession impacts investors
CNN said that the software giant is looking at BTC as a potential moneymaker, but experts warn that it may not benefit everybody.
An analysis report by the Post Gazette showed the tendency of individuals with a high risk-taking appetite to invest in any type of BTC available, including the very volatile altcoins.
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During a “CoinTalk” podcast, BTC expert Jay Caspian Kang explained that the sudden rise of non-BTC cryptocurrencies is brought by “bored” investors who gamble with their altcoin investments.
Stephen Williams, author of “Blockchain: The Next Everything”, meanwhile shared that blockchain is stuck between enabling individuals to learn more about the cryptocurrency trading platform and attracting them with huge returns despite not knowing a thing about it.
Microsoft’s blockchain obsession, therefore, is thought to be a big gamble. A gamble that the software giant is taking on despite BTC making rounds of shocking surges recently.
Sources: The Business Times, CryptoDaily
