Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

Luxoft Partners with R3 and Integrates Identity Management Applications on Corda

Luxoft Holding, Inc (NYSE:LXFT), a global IT service provider, has partnered with R3, an enterprise blockchain software firm. Luxoft will lead the integration of identity management applications on Corda, R3’s open source blockchain platform.

As an R3 partner, Luxoft will use Corda technology in its blockchain consulting practice, adding integration with complimentary technologies in order to provide complete solutions. The initial focus is to allow businesses to create Corda applications that take advantage of the verifiable claims technology or identity attributes management enabled by Hyperledger Indy. Hyperledger Indy is an open-source technology for blockchain-based identity management, and a basis for the Sovrin Network – a public utility ID ledger that provides the basis for self-sovereign identity management.

Corda’s unique approach to privacy makes it well placed to support identity management on the blockchain as the platform combines privacy and confidentiality of business transactions with an ability to re-use functionality/data in the network. To help firms build complete solutions that rely on self-sovereign identity management, Luxoft will therefore build Corda identity management apps on the Hyperledger Indy and the Sovrin Network.

Luxoft has already built a proof-of-concept that combines Corda and Hyperledger Indy to demonstrate how the technology will work in producing and distributing personalised medicines to patients. It shows how an Indy CorDapp enables a person to own their own data, and how that impacts different sections of the healthcare ecosystem – from the treatment room to the manufacturer. Luxoft will be exclusively showcasing this new demonstration at the Crypto Valley Conference in Zug, Switzerland on June 22.

“We believe that the combination of Corda, the blockchain for business, and HL Indy, for decentralized identity is a powerful platform for addressing real world, enterprise requirements. Any practitioner building on a blockchain or distributed ledger technology needs to amass a toolkit that allows them to complete the job most efficiently, always applying the right tool for the job,”said Vasiliy Suvorov, Chief Technology Officer at Luxoft. “By contributing the integration framework, we hope to enable faster innovation and help both Corda and the Hyperledger Indy communities to focus on building innovative applications and spend less time on technology integration.”

“We have created a blueprint for any process that requires claims or credentials input in order to orchestrate service provisioning between multiple parties,” added Mr. Suvorov. “It will help make systems more practical, scalable and flexible, naturally supporting smart contract mechanisms that already exist in Corda.”

David E. Rutter, CEO at R3, commented: “Enabling end users to have full control over managing their identity is one of the most exciting applications for blockchain. By partnering with Luxoft, we can extend the benefits of our privacy protocols on Corda to a wider community. We look forward to working with them in the future to deliver innovative identity management CorDapps.”