Scotland To Have World’s First Blockchain Identity Research Facility
A blockchain research institution has been unveiled in Scotland. The facility identified as Blockpass Identity Lab will be set up in Edinburgh. The core function of the lab will be to find ways the blockchain platform can be used to secure personal information online.
Blockpass Partners With Scottish Varsity To Set Blockchain Facility
The facility has been built at the Merchiston Campus. The lab is a result of a recent partnership involving Blockpass IDN and the university. The entire collaboration will cost £600,000. Block pass is an identity platform with headquarters in Hong Kong.
The entire collaboration will last for three where the funds will be used to facilitate the activities of the research personnel. The team entails five PhD scholars and a surrounding that has a virtual blockchain. The focus will be on highlighting some of the setbacks involving online identity. Upon completion, the team will set up fresh data structures that concentrate on the privacy and consent of citizens.
Scotland’s Minister for Digital Economy Kate Forbes expressed her excitement with the project. She said that they seek to find ways of using blockchains to curb online scamming through the protection of personal data. She noted that the university’s deep tradition of innovation and research will be key to fulfilling the goals of the project.
Ahead of the launch, a number of activities have been lined up. We will have forums that will discuss cryptography and blockchain technology. The forums will also be used to discuss online identity. Furthermore, attendees will take part in hackathon where they will come up with prototype apps with a concentration on the blockchain network and decentralized ledger technologies.
The lab was made public in April this year. This is after a number of data violation cases were reported across the globe. Blockpass boss, Hans Lombardo opines that the scandals clearly indicate that it is risky to store personal information in a central location.
In a press release, Hans said that the facility in Scotland will offer an opportunity for researchers to come up with advanced ways blockchain can be used to protect sensitive data. He said that the management of information should be handled seriously.
Recently, the US has been the centre of attention over personal data violation cases. It has emerged that even European firms have fallen victims to data breaches. By estimation, about 17% of the European population has fallen victim to data violation with identity theft topping the list. In 2017 alone, credit card fraud was rampant with Europe losing about £1 billion. Cards belonging to over 5 million people were cancelled.