Press Release (ePRNews.com) - INDIANOLA, Iowa - May 07, 2020 - IdRamp, a leader in decentralized identity, today has announced a new strategic role as Founding Steering Member of the Trust over IP (ToIP) Foundation. ToIP is an independent Linux Foundation project to enable trustworthy exchange and verification of data between any two parties on the Internet. The ToIP Foundation will provide a robust, common standard that gives people and businesses the confidence that data is coming from a trusted source, allowing them to connect, interact and innovate at a speed and scale not possible today.
The ToIP Foundation is being developed with global, pan-industry support from leading organizations with sector-specific expertise. Businesses today are struggling to protect and manage digital assets and data, especially in an increasingly complex enterprise environment that includes the Internet of Things (IoT), Edge Computing, Artificial Intelligence and much more. This is compounding the already low consumer confidence in the use of personal data and is slowing innovation on opportunities like digital identity and the adoption of new services that can support humanity.
Without a global standard for how to ensure digital trust, these trends are bound to continue. The ToIP Foundation will use digital identity models that leverage interoperable digital wallets and credentials and the new W3C Verifiable Credentials standard to address these challenges and enable consumers, businesses and governments to better manage risk, improve digital trust and protect all forms of identity online.
“The ToIP Foundation will help businesses move beyond complex identity security investments that erode the bottom line and slow innovation,” said Mike Vesey, CEO, IdRamp. “Verifiable digital trust in a decentralized data economy will open a world of possibilities for all individuals and businesses. The ToIP stack provides the foundation for a new generation of digital identity services.”
The Linux Foundation’s open governance model enables the ToIP Foundation to advance a combination of technology and governance standards for digital trust in a neutral forum that supports pan-industry collaboration. An open governance model that can be integrated into the development of the standards for digital trust is essential where the business, legal and social guidelines for technology adoption impacts human trust and behavior.
The ToIP Foundation will initially host four Working Groups. The Technical Stack Working Group and the Governance Stack Working Group will focus on building out and hardening the Technical and Governance halves of the ToIP stack, respectively. The Utility Foundry Working Group and the Ecosystem Foundry Working Group will serve as communities of practice for projects that wish to collaborate on the development of ToIP utility networks or entire ToIP digital trust ecosystems.
With IdRamp, businesses can adopt ToIP standards and interoperability for a wide range of business opportunities. As founding member of the ToIP foundation, IdRamp is committed to helping businesses build a new decentralized digital economy that will evolve from traditional centralized systems. To learn more, visit IdRamp.com
For more information contact:
Phone: +1 515-808-2822