Sovrin SelfSovereign Identity And Decentralized Trust Network
What Is Sovrin?
This is a new token deigned for self-sovereignty to give you your own identity and a completely decentralized trust. You can read the whitepaper on the company at Sovrin.org. And you can join the Sovrin Alliance on the website as well.
How Sovrin Identity And Decentralized Trust Network Works
There’s a major issue in the world when it comes to trust. By most people’s accounts, trust has been broken during the digital age. The internet first started with one simple goal, to help machines communicate with each-other. And as a result of the internet being created, machines, I.E. computers, have their own identities online. The strange thing is, most people do not have identities, at least not on the same level that machines do. And in turn, there is a hindrance in terms of communication, and adding the element of trust becomes even more difficult and complex then ever before.
There is an enormous amount of complex information and program development needed to accurately complete the hundreds of billions of dollars of transactions that occur each year online. The goal of the company is to create new sense of identity known as SSI or Self-Sovereign Identity. The newly developed identity will be completely controlled in full by an individual or organization. And once it’s been created, no one else can read it, use it, turn it off, or take it away without the explicit consent of the owner. It’s a simple way to give people a private identity that is secure. This new identity will only go or be used where the owner of it dictates. And it’s because of this, trusted interactions will be able to occur between different entities like businesses, institutions, and individual people.
Sovrin is a non-profit organization that is the first of its kind. They have a huge board of advisors from Perkins Coie that has more than one thousand lawyers in nineteen different offices throughout Asia and the United States. Perkins Coie LLP is known to represent many successful companies across a multitude of industries and different stages of development. Some of the companies they’re known to represent are startups, others are FORTUNE 50 Corporations.