fbpx
The Daily Chain
No Result
View All Result
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List
No Result
View All Result
The Daily Chain
No Result
View All Result
Home Projects 4thpillar technologies

FOURid Moves into Production

Carlos Park by Carlos Park
11th October 2020
2 min read
0
FOURid Moves into Production
0
SHARES
0
VIEWS
FacebookTwitterLinkedinTelegramEmailWhatsapp

For the last three years, 4thpillar Technologies (4thtech) has been hard at work creating a decentralized identity mechanism for blockchain. After numerous revisions and iterations, the company has announced that it has a complete concept (FOURid) capable of reliably connecting a blockchain wallet to an individual or corporate entity. Upon implementation, this service will be a step forward in productivity for small and enterprise companies alike. 

The problem 4thtech is solving is with FOURid is the thousands of man-hours lost in falsified documents. Even in the digital age, much office work and documents are still done on paper. Between converting paper documents to digital versions, sending, and then receiving them, there are several opportunities for them to be intercepted and falsified. Our previous pieces on 4thtech have gone into greater detail about how a digital identity could streamline this process, ensuring that the data sent and received is the same.

One of the key components to FOURid is the integration of the X.509 Public Key Infrastructure. This internationally recognized certification standard is used to guard against malicious website impersonators and used in security standards including HTTPS. The European Union has already adopted the X.509 standard, making it a prime candidate for blockchain implementation in the EU.

From a user perspective, the 4thtech Medium article describes the steps needed to set up the wallet. 

  1. User wallet creation using 4thtech blockchain wallet;
  2. Digital certificate (i.e. x.509 standard) user KYC connection process;
  3. Identity verification check with the user’s digital certificate, and;
  4. Link creation between the verified user and his/her wallet.

This will create a link from the KYC’d user to their 4thtech wallet. Now, any document sent from that wallet can be verified as being sent from a particular person or business. 

On paper, this process does not seem complicated. However, moving a system, no matter how rudimentary, from a centralized to a decentralized platform is an ambitious task. Truly decentralized and verifiable systems have existed only since the creation of blockchain eleven years ago. Progressing from a glorified database to a decentralized identity solution within that time is no small task. Even more popular Web 3.0 protocols like Polkadot are still in their infancy, with new solutions proposed on a daily basis. Now that the FOURid concept is completed, production can begin on the underlying system and cross-chain compatibility.

FOURid will be a central component of FOURns, 4thtech’s notarization service. Once 4thtech’s services are functional they will be an MVP for document verification in the EU and abroad. 

Website – https://the4thpillar.io/

Medium – https://medium.com/the4thpillar

Tags: Decentralized identityFOURid
ShareTweetShareShareSendSend
Carlos Park

Carlos Park

Carlos has been actively involved in cryptocurrencies since 2014 and since then has authored multiple articles and reviews, edited podcasts, and acted as an advisor for several projects related to blockchain technologies.

Related Posts

4thtech Breaks Ground with Blockchain Notary Service
4thpillar technologies

4thtech Breaks Ground with Blockchain Notary Service

23rd September 2020
Four (4thtech) 2020 Recap – Part 2
4thpillar technologies

Four (4thtech) 2020 Recap – Part 2

4th September 2020
Four (4thtech) 2020 Recap – Part 1
4thpillar technologies

Four (4thtech) 2020 Recap – Part 1

11th August 2020
4thTech Continue to Make Progress in 2020
4thpillar technologies

4thTech Continue to Make Progress in 2020

28th July 2020
FOUR-edelivery
4thpillar technologies

4thpillar’s Development of eDelivery System

24th July 2020
4th-pillar-technologies-jpg
4thpillar technologies

Blockfyre Coin Research: 4th Pillar Technologies ($FOUR)

8th July 2020
Next Post
Derivatives-crypto-UK-FCA-Ban

UK Crypto Derivatives Ban may have little impact according to industry experts

Business Intelligence giants MicroStrategy buy 21000 BTC worth $250 million

Crypto trader flags 1,000 BTC mined in 2010 being moved to new wallets

Please login to join discussion
  • All News
  • Editor's Picks

Crypto Expert Advises Investors to Scoop up Altcoins as BTC Rally Stalls

30 in Japan Face Charges After Trading Stolen Crypto from Coincheck

VanEck Files for Digital Asset ETF that will Favour Investors

Joe Biden’s Treasury Secretary nominee says Crypto can empower Financial Systems days after she criticized the tech

Ripple and Binance Transact 51.4 Million XRP Worth About $13M

Join our newsletter!

Enter your email to receive our newsletter.


Don’t worry, we don’t spam
ADVERTISEMENT

Popular Posts

  • Prime Minister-Bitcoin-Canada

    Ex Canadian Prime Ministers says Bitcoin could be a Reserve Currency

    0 shares
    Share 0 Tweet 0
  • Reports – Iranian police seize 45,000 illegal Bitcoin miners

    0 shares
    Share 0 Tweet 0
  • SEC lists 28 Suspicious Crypto Companies in its Watch List – Are your funds safe?

    0 shares
    Share 0 Tweet 0
  • Ether Primed To Give Bitcoin a Run For Its Market Dominance

    0 shares
    Share 0 Tweet 0
  • Grayscale Investments might soon launch new Crypto products and Chainlink is on the list

    0 shares
    Share 0 Tweet 0

Market Updates

Crypto Expert Advises Investors to Scoop up Altcoins as BTC Rally Stalls

Crypto Expert Advises Investors to Scoop up Altcoins as BTC Rally Stalls

22nd January 2021
Ether Primed To Give Bitcoin a Run For Its Market Dominance

Ether Primed To Give Bitcoin a Run For Its Market Dominance

21st January 2021
ETH Surpasses Its 2018 Price Record to Set New ATH at $1,439

ETH Surpasses Its 2018 Price Record to Set New ATH at $1,439

19th January 2021

Media

hashoshi-alts (2)

Altcoin Season Picks / Projects with Huge Potential

9th September 2020
cardano-ADA

Hashoshi: Cardano Shelley is live… but what’s next is WAY BIGGER

19th August 2020
hashoshi-alts

Hashoshi: Low Cap Alts you need to be watching in 2020

5th August 2020
fomohunt-podcast

FomoHunt Podcast – Joe Vezz & Jon Farjo: Tracking Social Sentiment Waves with Lunar Crush

30th July 2020
ethereum-hashoshi

Hashoshi: Ethereum 2.0, Chainlink, Bitcoin Price, and more!

27th July 2020
fomohunt-podcast

FomoHunt Podcast – Joe Roets: Behind the scenes of “Open source money”

24th July 2020
The Daily Chain

The Daily Chain is a news platform and educational hub founded in January 2019. We are dedicated to providing unique and informative daily content across all facets of the blockchain and cryptocurrency industry whether it be news, opinion pieces, technical analysis, reviews, interviews, podcasts and more.

LEARN MORE »

Recent Posts

  • Crypto Expert Advises Investors to Scoop up Altcoins as BTC Rally Stalls
  • 30 in Japan Face Charges After Trading Stolen Crypto from Coincheck
  • VanEck Files for Digital Asset ETF that will Favour Investors
  • Joe Biden’s Treasury Secretary nominee says Crypto can empower Financial Systems days after she criticized the tech

Information

  • About
  • Contact
  • Site notice
  • Risk Warning
  • Privacy Policy

Categories

  • News
  • Markets
  • Features
  • Education
  • Media
  • Reviews

TheDailyChain © 2020. The Home of Digital Assets

No Result
View All Result
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List

TheDailyChain © 2020. The Home of Digital Assets

At The Daily Chain, we are committed to protecting the personal data of our audience.
In light of the General Data Protection Regulation, we are asking our audience in Europe to consent to the use of cookies by The Daily Chain and its partners to continue to our site. These cookies are used to personalize your user experience (content and ads) and support and improve the site. Please click “I Agree, Continue to Site” below to consent to the use of this technology and continue to TheDailyChain.com. Visit our Privacy Statement to learn more. Cookie settingsAgree, continue to site
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

bitcoin
Bitcoin (BTC) $ 33,198.00 3.91%
ethereum
Ethereum (ETH) $ 1,267.90 7.20%
tether
Tether (USDT) $ 1.00 0.06%
polkadot
Polkadot (DOT) $ 17.61 5.82%
ripple
XRP (XRP) $ 0.278555 2.81%
cardano
Cardano (ADA) $ 0.355941 8.45%
chainlink
Chainlink (LINK) $ 23.33 18.25%
litecoin
Litecoin (LTC) $ 141.51 2.66%
bitcoin-cash
Bitcoin Cash (BCH) $ 441.63 3.90%
binancecoin
Binance Coin (BNB) $ 41.14 3.09%
Newsletter

Join our newsletter!

Enter your email to receive our newsletter.

Don't worry, we don't spam