Hyperledger Indy is yet another project under the umbrella of Hyperledger and is a distributed ledger and utility library. It is currently in incubation and is being developed to include libraries, tools and reusable components that can be utilized to create and use independent digital identities which are built on blockchains as well as other distributed ledgers. This will allow them to function across a wide range of applications and domains while still remaining secure.

Hyperledger Indy includes specifications to safeguard decentralized digital identities and also methods of implementing these measures which can be used within and outside the Hyperledger Project, giving it broad applicability for a range of developers and companies.

When the project was announced, Hyperledger stated that they had begun to develop Indy because of the high number of privacy breaches on the internet and that distributed ledgers could be a solution as they offer decentralization.

Features of Indy:

Identifies are paired uniquely and under pseudonyms by default to preserve privacy. It’s notable that Indy is the first of its kind — Distributed Ledger Technology which is designed around Decentralized Identifiers (DIDs) as the primary keys on the ledger. DIDs are a new kind of digital identifier which were invented to enabled long-term digital identities which don’t need centralized registry functions. They can be verified through the use of cryptography, thus building what its developers call a digital “web of trust.”

Personal data is never written to the ledger, instead it’s exchanged over peer-to-peer encrypted connections that occur between agents which are off-ledger. The ledger is only used to anchor encrypted data, not to publish it.

There is built-in support for zero-knowledge proofs (ZKP) which helps to avoid unnecessary disclosure of any information that might identify an individual.

The end result of Indy’s efforts will be that individuals and organizations will have independent control of their data and prevent third parties from completing transactions without the person who owns that identity being part of it because they are the only one whose identifiers can move the contract or action forward. Furthermore, since decisions can be based on publicly available identifiers, there is greater flexibility in contracts while still promoting greater privacy online. As Indy is implemented, more features will be developed, but with the fundamental ones listed previously, it is a powerful tool to add to Hyperledger Projects.

BLMP ©2018, Singapore

BLMP (Blockchain Licensing Marketplace) is a blockchain technology company working to remove obstacles and facilitate trust in the complex issues surrounding supply chain management transactions in the virtual goods industry.

BLMP Network uses blockchain technology to connect digital platforms around the world with global brands to monetize officially licensed virtual goods across any digital platform; from games to streaming services & social media, allowing millions of users access to a whole new world of branded virtual products.

Follow us:

Website

Twitter

Facebook

LinkedIn

AngelList