Microsoft collaborates with Tierion on blockchain-based attestations and proofs

FinTech | February 8, 2017 By:

Microsoft has announced a new partnership with blockchain technology company Tierion as part of an internal decentralized identity initiative.

The companies will be collaborating on a service that generates, manages, and validates attestations, which can be verified without relying on a trusted authority, and will explore how blockchain technology serves the needs of developers and organizations.

The goal of Microsoft’s initiative is to provide people and organizations control over their identity and released data, the post reads. The role of Tierion in this initiative will focus on linking data to the blockchain, and in generating a timestamp that proves that data’s integrity and existence.

“Working with Microsoft helps us further our goal of building a global proof engine. For many use cases, it’s better to link your existing systems to the blockchain instead of building your own blockchain. We were thrilled when Microsoft approached us about working together,” Wayne Vaughan, CEO of Tierion, said.

Although public blockchains like bitcoin are exceptionally secure, they are slow. Tierion will solve this scalability by cryptographically linking numerous data points to a single transaction. Microsoft will be working with the blockchain company on a service that leverages the open source Chainpoint protocol that has been developed by Tierion team or using the blockchain as a trust anchor, the release stated.

“Tierion is a leader in anchoring data to blockchains,” Daniel Buchner, Microsoft’s Head of Decentralized Identity, said. “We’re excited to collaborate with them to advance our decentralized identity initiative. There is great potential to help organizations improve security and reduce compliance costs.”

The news is the latest that finds Tierion partnering with a major corporate following work with Philips. For Microsoft, it follows its announcement of a supply chain initiative, Project Manifest.