#Technology Microsoft Launching a Decentralized Identity Tool on Bitcoin Published 5 days ago on May 14, 2019 By Janet F. Sanchez Share Tweet Microsoft has announced that they are launching a decentralized identity tool on Bitcoin. The open sourced project will be called ION. Microsoft ION: As announced by Microsoft on the 13th of May, The open sourced project called ION operates on how networks actually communicate with one another in the handling of decentralized identifiers. This will give you the ability to prove that you own the keys to your identity data. For example, anytime that you go and use Facebook to login into another website, there is an underlying protocol which allows for that to happen. So, what Microsoft is building is a new protocol to enable this to happen in a decentralized way built on top of bitcoin. The individual ION nodes on the secondary network shall be held responsible to keep the tracks of the DIDs or digital decentralized IDs and to timestamp these onto the bitcoin mainnet. For creating a digital decentralized ID, the user will wrap a public key into the Digital Decentralized ID creation document on the ION network, sign the input using their private keys and then send it over to the node on the network. Each time that the user is going to update his Digital Decentralized ID by creating a sub ID or by updating the metadata, the corresponding node will update the changes in the Digital Decentralized ID document. If Microsoft implements this into any of their software products then people will be using bitcoin to verify their identities. Currently, some companies have already moved forward to showcase their interest in running the ION nodes which includes the Bitcoin security and hardware company Casa, internet security firm Cloudflare and Equinix. The project will move from the bitcoin testnet to the bitcoin mainnet later this year. What are your thoughts on the ION project by Microsoft? Tell us in the comments section below. Related Topics:BitcoinBlockchainDecentralizationION projectMICROSOFTmicrosoft bitcoinmicrosoft decentralized identity toolmicrosoft ionmicrosoft ION projecttechnology Up Next Amazon Owned Whole Foods, Other Big Retailers Start Accepting Bitcoin Don't Miss BTC to USD, 14th May: Bitcoin Price Analysis, Actually Bullish? Continue Reading Advertisement You may like BTC to USD, 19th May: Bitcoin Price Analysis, $6000 or $9000? ETH to USD, 17th May: Ethereum Price Analysis, About to Crash? The Death of Cryptopia: How it all Happened? Alert: ETH to USD, 16th May: Ethereum Price Analysis Bitcoin ETF Update: US SEC Delays Decision on Bitwise BTC ETF Ebay: No Plans of Accepting Bitcoin, Cryptocurrencies 1 Comment 1 Comment Pingback: Microsoft Launching a Decentralized Identity Tool on Bitcoin - Satoshiuncle Leave a Reply Cancel reply Your e-mail address will not be published. Required fields are marked *Comment Name * Email * Website #Technology Business Name Generator: BrandThugs uses AI technology to generate the perfect name for your crypto startup Published 1 month ago on April 14, 2019 By Nadja Eriksson An attractive name is the initial and one of the most essential parts of your business today especially in the filed of cryptocurrency where the competition is raising day by day. Choosing the perfect name to suit your business model can be very difficult and getting the same domain name is next to impossible. However, BrandThugs, a business name generator as well as a platform to look for the most premium domain names has entered the market to make the process of starting your own business very easy. Business Name Generator by BrandThugs: BrandThugs uses Artificial Intelligence technology to generate the perfect business name in accordance with the area of interest, place of business as well as the type of customers. The Business Name Generator helps you to choose from a list of short and catchy domain names that come with a perfectly designed logo. So the process of choosing the business name, finding a similar domain name and designing a logo; everything gets effortless. Premium Domain Names on BrandThugs: Apart from the free Business Name Generator on BrandThugs, the platform also provides hundreds of catchy, short and premium domain names at the most nominal prices. The platform is actually a marketplace where the sellers can post their domain names and buyers can buy the domains directly from the seller. What makes BrandThugs different is the team sets the most appropriate pricing for the domains that the seller wants to sell (rather than the seller setting up the price himself). This makes the domain name much cheaper than those listed on other similar platforms. Free Logos designed by world-class designers: Apart from the software engineers who have built the artificial intelligence software called the Business Name Generator, the team behind BrandThugs also consists of world-class designers who provide a free ready-to-use logo with each domain name. The best part is that each logo is specifically designed in accordance with the name and the business field, thus, the logo always suits your choice. Special Discounts and Offers: Being a startup, BrandThugs is always ahead in providing the best deals to its users and thus the team themselves bare a part of the total cost of the domain name that you purchase. Currently, there is a flat 10% discount on all domain names that you purchase on the platform. The method of redeeming the discount is applying the coupon code: THUGS10 during checkout which will automatically deduct the amount equivalent to 10% of the total price of the domain from the cart. With all these things combined: Business Name Generator, Catchy Domain Names, Ready-to-use Logos and Special Offers, BrandThugs is surely a place to visit before planning a new business. What are your thoughts on BrandThugs? Tell us in the comments section below. Continue Reading #Technology Facebook Coin raising $1 billion: Largest Stablecoin Coming? Published 1 month ago on April 9, 2019 By Janet F. Sanchez As reported by Nathaniel Popper, a New York Times reporter, Facebook is looking for Venture Capital Firms that are interested in investing in the upcoming Facebook Coin (Stablecoin). As reported, Facebook is targeting a large sum of $1 billion for its upcoming crypto project. Facebook Coin: Facebook is in the verge of announcing its stablecoin which shall be used on its chat platform Whatsapp for sending and receiving payments. The stablecoin shall be backed by a number of fiat currencies. Facebook has been continuously working on its crypto project since last year and has employed more than 30 people to look after its blockchain and cryptocurrency division which is being led by David Marcus, the ex-president Paypal. Facebook Raising $1 Billion: In accordance with a number of tweets posted by Nathaniel Popper, Facebook is looking for Venture Capital firms in order to invest in its upcoming crypto project. The target of the company is to raise around $1 billion for the same. Update on Facebook’s cryptocurrency: Sources tell me that Facebook is now looking to get VC firms to invest in the Facebook cryptocurrency project we reported on earlier this year. I hear they are targeting big sums — as much as $1b. — Nathaniel Popper (@nathanielpopper) April 8, 2019 According to the official statements, Facebook already has more than $10 billion in cash or assets equivalent to cash. According to Nathaniel, a source told him that Facebook wants to raise funds for collateralizing the upcoming stabecoin. Given that one of the big allures of blockchain projects is the decentralization, getting outside investors could help Facebook present the project as more decentralized and less controlled by Facebook. — Nathaniel Popper (@nathanielpopper) April 8, 2019 The Facebook coin will be backed by a number of fiat currencies and thus unlike other major stablecoins, it will be more resistant to volatility. Continue Reading #Technology The Apple Card: A Credit Card with No Fees, How does it work? How to get it? Published 2 months ago on March 26, 2019 By Janet F. Sanchez Apple Inc has officially announced the launching of its zero fee credit card known as the ‘Apple Card’. The starters will not have to wait for days in order to get the card. All you need to do is, sign up on your iPhone and in just a few minutes, you will be assigned your apple card and you can start using it right away. The Apple Card The apple card can be used worldwide anywhere using apple pay; in apps, in stores, and on the web. The apple card will be available on all the Apple devices. The apple card always remains with the user as it is inside the user’s iPhone in the wallet app. The wallet app will show everything the user needs to know about the apple card. Things like what the user has spent, how much the user has spent and when is the payment due. The credit card transactions in the traditional banking systems seem quite annoying as they are generally written in cryptic names that are pretty hard to decipher. With apple card, the company has used machine learning and apple maps to transform this mess into names and locations that the user recognizes. The wallet app also automatically organizes and totals the purchases of the user so that the user can see how much he has spent and exactly where has he spent it with apple maps. The user can also keep track of his spending by categories like food and drinks, shopping, entertainment etc. Each category is represented by its own colors like orange for food and drink. The apple card also shows the user how his spending is trending (weekly or monthly), so that the user can decide if he needs to or wants to change his spending. Daily Cash Whenever the user spends on anything such as grocery shopping, entertainment or coffee using apple card, the user gets ‘Daily Cash’ every day. So every day the user spends, ‘Daily Cash’ is added to the user’s apple cash card which is also in the wallet app and it is cash just like real cash, so the user can do anything with it such as spending it in stores, send it to friends, use in apps etc. Every time the user pays with his iPhone or Apple watch, he gets 2% of the purchase amount (cash back) in daily cash. According to the company, the apple card shall be accepted all over the world. Save Interest, No Fees: A way to save more interest is to pay more often. Apple has added the flexibility to schedule more frequent payments. The user can schedule his payments daily, weekly or monthly. Also, the Apple card does not have any fees such as late fees, annual fees, international fees or over-limit fees. Apple is also committed to providing one of the lowest interest rates in the industry. Even if you miss a payment, Apple will not charge a high penalty like most of the traditional banks do. The aim of the company is to make it easier for the user to pay his balance. Apple partners with Goldman Sachs and Mastercard: To create a credit card, a banking institution is surely needed and according to Apple, to create a credit card as innovative as the ‘Apple Card’, they needed a bank that was willing to do the things that had never been done in the industry before and thus the company chose Goldman Sachs to issue the Apple Card. As a newcomer to consumer financial services, Goldman Sachs was up for the challenge of doing something more bold and innovative. Apple has also partnered with Mastercard for the Apple Card. Mastercard is already a partner on Apple pay from the start. With Mastercard’s global payment network, Apple Card will be easily acceptable all around the globe. Private and Secure: Apple is also committed to providing a new level of privacy and security. According to the company, security is totally integrated throughout the hardware and software. When the user gets his apple card, a unique per device card number is created and stored safely in the ‘secure element’ which is a special security chip which is used by Apple Pay. Each payment includes a one-time dynamic security code which protects the card number from being used without the authorization of the user and every purchase it authenticated with touch id or face id. Keeping privacy in mind, Apple has created a unique architecture for Apple Card where apple doesn’t know what hs the user bought, where has the user bought it from or how much has the user paid for it. So features such as spend tracking and categorization happen using on-device intelligence and not on apple servers. 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