Luxoft Holding, Inc (NYSE: LXFT), a global IT service provider, announced on Tuesday it has formed a partnership with blockchain software firm, R3. The company also reported it will leading the integration of identity management applications on Corda, which is R3’s open source blockchain platform.
According to Luxoft, as an R3 partner, the company will use Corda technology in its blockchain consulting practice, adding integration with complementary technologies in order to provide complete solutions. The company noted that 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 also reported it has already built a proof-of-concept that combines Corda and Hyperledger Indy to demonstrate how the technology will work in producing and distributing personalized medicines to patients. Vasiliy Suvorov, Chief Technology Officer at Luxoft, stated:
“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. 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. 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, added:
“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.”