Onename, a blockchain technology startup, unveiled its new product called the Passcard. This makes use of a blockchain-tied profile to create a secure identity, which can possibly replace passwords, keys, or even ID information.
The company makes use of blockchain technology, which is often associated to verifying bitcoin transactions and being stored in a public ledger, to create a digital identity with access control.
Blockchain Technology Applications
“Passcards are a digital form of identity and access control designed to initially replace passwords, and in the future, replace forms of physical identification like passports and driver’s licenses. You’ll be able to use it to enter your apartment or your office and when asked to present identification in an in-person context. The future of identity is here,” read the company’s blog post.
Prior to this, Onename has already been offering a blockchain technology identity product called the onename.io-hosted profile. “Currently, passwords help you access your online life just like your wallet and keys help you access your physical life. At a high level, passwords, identity cards, and keys are all forms of access control. Want to enter a bar? Show an identity card that says that you’re over 21. Want to access your Twitter account? Login with the username/password that you used to signup. Want to enter your home? Use the key that unlocks the door,” read a public statement.
The company will make use of the blockchain technology called BNS, which is short for Blockchain Name System. Company founders Muneeb Ali and Ryan Shea compared this to the DNS or Domain Name System, which is used to offer online security.
The app login feature will be launched soon and can be viewed on the blog of Onename investor Fred Wilson and the team page of decentralized marketplace project OpenBazaar.
Source : http://www.newsbtc.com/2015/05/14/passcard-using-blockchain-technology-to-store-identities/