Note from the Publisher: Below is a simple press release that has already been picked up by numerrous financial news media. What we feel makes it noteworthy, though, is the fact that this identity management system is utilizing blockchain technology, and that’s something new and different. In fact while there is tremendous excitement around blockchain in general (and tons of VC going into the space), the practical applications are not yet quite there. Hence, with the release of this product, SolidX is providing a real-life application here and now to the many potential uses of blockchain, the underlying technology of bitcoin.
NEW YORK, July 7, 2016 /PRNewswire/ — SolidX Partners Inc., an innovative blockchain technology company, today announced the launch of Vida, the world’s first full-stack identity solution using blockchain technology. Vida provides enterprises with robust identity management capabilities without the need to hold personal identifying information. Vida is the first service of its kind to provide one identity across numerous applications, streamlining permissioned access to data and services without shared-secret based access mechanisms (e.g., usernames and passwords, government ID numbers, etc.).
Leveraging blockchain technology, Vida decentralizes risk and enables secure recordkeeping. Vida increases corporate security and simultaneously empowers users with greater control over establishment, usage and protection of their personal identifying information across platforms.
Daniel H. Gallancy, Chief Executive Officer of SolidX Partners, commented, “Vida represents a first of its kind enterprise-grade identity platform using public key infrastructure and built on blockchain technology. Vida’s use of the blockchain enables a level of security not possible in the past. We look forward to supporting enterprises in improving security and eliminating the liabilities associated with centralized recordkeeping. Vida’s blockchain-based identity system creates value for enterprises, customers and employees without compromising privacy or control of personally identifying information.”