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Photo: Shutterstock.com / SFIO CRACHO

IBM, Mastercard Join Digital Identity Project Building ‘Ecosystems of Trust’

– Coindesk

A wide range of organizations and businesses have joined forces to build decentralized digital identity solutions

The Trust Over IP (TOIP) Foundation is hoping to create the technology that will build trust between any two parties on the internet, which will be done in a peer-to-peer, and private manner.

“Drummond Reed, chief trust officer at digital identity startup Evernym, said the ToIP Foundation is about defining something as fundamental as the transport layers of the internet itself. But in this case, the technology stack is specifically for establishing trust between people and organizations rather than just between machines, as is the case with internet protocol (IP).”

One of the companies involved is Mastercard, whose approach to digital ID within finance, digital health, and education ensures that personal information is strictly owned and controlled by the user.

Mastercard envisions a “collaborative digital ecosystem,” where “trust providers” can be organizations such as a bank, mobile network operator, university, or postal service that has a preexisting, trusted relationship with the user

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