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Mastercard and R3 participate in the Linux Foundation’s new data protection project

Data protection issues increased in 2020 Personal data is increasingly used to combat COVID-19. The Linux Foundation, a nonprofit technology group, announced today a new privacy project along with dozens of industry giants such as Mastercard and IBM.

Called “ToIP Foundation”, is a new data encryption coalition which aims Offer reliable data exchange on the Internet and set a global standard For Ensure digital trust.

R3 underlines the potential of blockchain to process encrypted transactions

According to what was announced on May 5 among the ToIP Foundation attendees There is an extensive list of companies, Governments and nonprofits that operate in Finance, business software, health, among others.

Mastercard and R3 participate in the Linux Foundation’s new data protection project
Mastercard and R3 participate in the Linux Foundation’s new data protection project

The financial giant is on the board of the founders Mastercard, IBM Security and Accenture, and other contributing members consider companies like R3 (the largest blockchain company) that University of Arkansas and also Kiva, the leading online credit platform. The Canadian province British Columbia It is also one of its founding members, the ToIP Foundation said.

Abbas Ali, The head of R3’s digital identity emphasized this is strongly committed to the development of secure, reliable and data protection ecosystemsl. The executive found that Corda, the technological platform of free software and open source of R3 is capable unlock encrypted transactions::

“Our Corda platform was designed to enable private transactions, and by including the work of the ToIP Foundation we can develop unique solutions suitable for self-sovereignty in the digital world “

Ali said Cointelegraph that the company does not try to implement Corda within the ToIP, explained:

“R3 is Support for the industry initiative and make sure Corda Work with the standards that emerge from the ToIP Foundation, d. H. Standards defined by ToIP“”

Create the digital trust layer that the Internet lacked

The new initiative is waiting enable a new level of verifiable identity and data exchangehe explained Jim Zemlin, the managing director of the Linux Foundation. He also stated that the ToIP Foundation’s mission “Providing the digital layer of trust that was lacking in the original design of the Internet“and trigger one”new era of human possibilities“”

The new data protection project aims in particular at this Helping businesses protect and manage digital assets and data in a complex business environment with systems like the Internet of Things and artificial intelligence.

The ToIP Foundation plans to meet these challenges Use digital identity models that use digital wallets and credentials interoperable and the new standard for verifiable credentials from W3C.

During various initiatives and protocols The goal is to solve the problem of digital privacySome experts believe that after a decade of talks, Blockchain has not yet met with this account.

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