SolidX Partners Inc., a New-York based blockchain technology startup, today launched a full-stack identity solution called Vida. It is meant to decentralize risk and provide firms with secure record-keeping without the need to hold personal identifying information.
Daniel H. Gallancy, CEO of SolidX Partners, commented: “Vida represents a first of its kind enterprise-grade identity platform using public key infrastructure and built on blockchain technology. Vida’s use of the blockchain enables a level of security not possible in the past. We look forward to supporting enterprises in improving security and eliminating the liabilities associated with centralized recordkeeping. Vida’s blockchain-based identity system creates value for enterprises, customers and employees without compromising privacy or control of personally identifying information.”
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Vida features include: file fingerprinting and time-stamping, authentication, credential storage and verification, document signing and email verification. The firm explains that users of the service and their clients will no longer need to remember and store passwords. Instead, the platform authenticates requests with verifiable digital signatures. Vida also adds an additional layer of security by leveraging a unique three-party authentication methodology to eliminate the potential for man-in-the-middle attacks.
Back in October 2014 SolidX raised $3 million in venture funding from multiple investors, led by Liberty City Ventures and hedge fund manager James Pallotta. At the time the firm’s core business was to provide hedge funds and asset managers access to the bitcoin markets. They did this by marketing bitcoin swaps that act and behave like swaps of other asset classes.