On June 7, 2021, RecDeFi, an automated, decentralized and scalable marketplace that accelerates investment in clean energy and climate solutions, in partnership with Envision Blockchain Solutions submitted the 19th Hedera Improvement Proposal (HIP). HIP 19, titled Decentralized Identifiers in Memos aims to provides a standard way to use Decentralized Identifiers (DIDs) within Hedera state entity memo fields and thereby support the issuance of Verifiable Credentials about Hedera state entities. Just as the owner of a Hedera entity demonstrates that ownership and so claims associated authorizations via signatures with the private key(s) corresponding to the entity, a controller of a DID demonstrates that control via signatures with (likely) a different private key. Consequently, the DID controller can, when engaging in off-Hedera interactions, effectively demonstrate their association to the Hedera state entity without any on-Hedera transaction.
According to W3C, “Decentralized identifiers (DIDs) are a new type of identifier that enables verifiable, decentralized digital identity. A DID refers to any subject (e.g., a person, organization, thing, data model, abstract entity, etc.) as determined by the controller of the DID. In contrast to typical, federated identifiers, DIDs have been designed so that they may be decoupled from centralized registries, identity providers, and certificate authorities. Specifically, while other parties might be used to help enable the discovery of information related to a DID, the design enables the controller of a DID to prove control over it without requiring permission from any other party. DIDs are URIs that associate a DID subject with a DID document allowing trustable interactions associated with that subject.”
About Envision Blockchain Solutions
Envision Blockchain Solutions is a Blockchain Ledger Agnostic Systems Integrator. Our mission is to reshape and align today’s Enterprise systems allowing organizations to recognize the new value in tomorrow’s Industry Vertical Solutions. The management team has years of Fortune 500 experience and has built a team of subject matter experts in Blockchain and Business Transformation Processes within Emerging Technologies. We focus on guiding organizations through 3 major milestones on their Blockchain journey: Use Case Analysis, Proof of Concept Development and Enterprise Scaled Deployments.
MODERN CLOUD SOLUTIONS
Envision Blockchain Solutions builds applications for the Web3 space. Our mission is to reshape and align today's systems allowing organizations to recognize the new value in tomorrow's Industry Vertical Solutions. The management team has years of Fortune 500 experience and has built a team of subject matter experts in Web3 and Business Transformation Processes. We focus on guiding organizations through 3 major milestones on their Web3 journey: Use Case Analysis, Proof of Concept Development, and Scaled Deployments.
© 2022 Envision Blockchain Solutions. All Rights Reserved.