Thomsons Reuters has unveiled an identity verification platform that enables developers to manage access to their blockchain contracts.
The BlockOne ID platform for Ethereum is an effort to help developers build applications in a controlled environment without several of the problems blockchain technology has traditionally posed: the performance of due diligence on users; authorisation and entitlement; user acceptance of terms; and key management.
Developers login to the developer portal and register decentralised applications (DApps). During this process terms can be set that users need to meet to use a smart contract. DApp owners can enforce entitlement on a per-user level rather than public address level and stipulate acceptance of commercial terms at first use.
Thomson Reuters then puts the smart contract that contains the addresses that are allowed to use the DApp on a blockchain so that anyone who has not been cleared is unable to use it.
Meanwhile, users identify themselves via OAuth through their Google, Twitter or Facebook accounts, accept terms and link to a hierarchical deterministic hosted wallet that creates new, unique addresses on a per-DApp basis. They then agree to terms and conditions for the DApp before getting access to it.