SolidX Partners Inc., an innovative blockchain technology company, 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."
A blockchain is a distributed database containing a continuously growing list of records, which are time-stamped as well as hardened against tampering and revision. A blockchain employs a specialized mechanism of consensus, enabling its constituent computers to synchronize records securely. Blockchains are kept secure with well-established cryptographic methods, and are decentralized, removing the risk of a single point of failure.
Vida utilizes the blockchain as a distributed key server, eliminating risks associated with traditional methods of centralized key storage. The Vida platform adds an additional layer of security by leveraging a unique three-party authentication methodology to eliminate the potential for man-in-the-middle attacks.
Among other things, Vida enables file fingerprinting and time-stamping, authentication, credential storage and verification, document signing and email verification. Using Vida, service providers and their customers no longer need to remember and store passwords. Instead, the Vida platform authenticates requests with verifiable digital signatures.