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PrivacyID3, founded out of the MIT Media Lab, has teamed up with nearly two dozen leading digital currency firms to announce the Windhover Principles.

ID3 is a research and educational nonprofit with a mission to develop a new social ecosystem of trusted digital institutions. The Windhover Principles constitute the next step forward in this direction and provide a new framework written by public and private stakeholders to ensure personal identity and data on the web.

The Windhover Principles for Digital Identity and Trust are deeply rooted in the belief that individuals should have control of their digital personal identities and personal data. Underlying this core value is the principle of ensuring innovation in trust and privacy.

Bitpay, Bitstamp, Ripple Labs, Swarm are just a few of the companies to come out in support of the new principles and framework. The Windhover Principle will not only give individuals more control over their personal data online but also for enhanced governance, auditing and enforcement.

These new principles are being implemented on an open source platform, based on ID3’s contribution of its Open Mustard Seed software platform. ID3 and participating firms plan to test, implement and deploy granular technical solutions to trust, privacy and governance on the OMS open source platform.


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Also read: https://www.cryptocoinsnews.com/bitcoin-march-toward-decentralized-future/

Open Mustard Seed is a trusted compute platform for developing and deploying secure cloud applications to collect, compute on and share personal data. OMS can be thought as a new “social stack” of protocols. The framework provides a stack of core technologies that provide a high level of authentication and security when sharing and collecting personal data.

The Windhover Principles: Four Key Components

  1. Self-sovereignty of Digital Identity and Personal Data:

Individuals and groups should have control of their digital personal identities and personal data. Individuals, not social networks, governments, or corporations, should control their identity credentials and personal data:

“Our vision for OMS [Open Mustard Seed] is as an inclusive platform to transform how we, as collective Internet users, can take back our personal data, and share it in a trusted and secure way, not only for Bitcoin and digital currency transactions, but other data and media types as well.” – ID3 Managing Director Dan Harple

  1. Proportionate Enforcement and Risk-Based Regulation:

Enhancing & improving personal privacy while promoting effective governance and accommodating legitimate auditing and enforcement needs.

  1. Ensuring Innovation in Trust and Privacy:

An effective, autonomous identity system reiteratively furthers trust, security, governance, accountability and privacy.

  1. Open Source Collaboration and Continuous Innovation:

An inclusive, open source methodology to build systems that embody these Principles.

Read the press release here

The Windhover Principles were collaboratively written by the industry group of companies, their advisors, as well as had dialogs with Financial regulators.

What do you think? Comments below!

Images from Shutterstock.

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Posted by Carter Graydon

A UNC Chapel Hill graduate, blockchain enthusiast and analyst. I have a background in programming and IT, strong studies in econ, stats and game theory. Currently working as a Social Media Director and pursuing my MS in Online Marketing - busy!