I/O Digital to Release World’s First Decentralized Identity SideChain For Bitcoin

Bitcoin Press Release: I/O Digital sets to release the first ever decentralized identity sidechain using a distributed  blockchain based DNS system. This system, known as DIONS (Decentralized I/O Name Server) will utilize the I/O Digital blockchain to attach sensitive identity credentials to a specific Bitcoin (XBT) or I/O Coin (IOC) address.

IO Digital Logo For PR

The system allows for the registration of aliases, avatars, documents, making them fully transferable between users. DIONS will offer strong security by integrating a fully fledged RSA cryptosystem (using a 2048 bits long key).

DIONS will support a decentralized messaging system. The system will enable fast, easy and secure communication between users. Not only will users be able to send encrypted private messages, they will also have the option to broadcast messages to the wider world via a decentralized Twitter-esque micro-blogging service. This service could also be used as a “reddit” like service, that could revolutionize the centralized service, into the first one of a kind decentralized blogging service.

Businesses, as well as being able to make use of their own brand names, can now use unique IDs to serve as a customer, invoice, or reference numbers (e.g. HSBC:8008135). This provides a more familiar format

Read more ... source: TheBitcoinNews