The Stratis (STRAT) project announced the release of its Stratis Identity App for iOS, a recent blog shows. The app uses the distributed ledger and the cryptographic protection of the Stratis blockchain, to achieve a secure, immutable identity and the potential for safe data sharing.
https://twitter.com/stratisplatform/status/1019589370859458560
Stratis is a project aiming to offer solutions to the business, and identity verification is just one of the niches, adding to the ecosystem with a product similar to that of Civic (CVC). However, the Stratis app uses a different set of data, based on social media profiles.
“Mass adoption of blockchain will only come through simplicity, and Stratis Identity offers a streamlined way to verify one’s identity through popular social media accounts, using pre-existing Microsoft (NASDAQ:MSFT), LinkedIn (NYSE:LNKD) or Google (NASDAQ:GOOGL) account information. Once one’s true identity is established through our app, a Stratis Identity can be shared securely without ever exposing any specific user’s sensitive personal data,” said Stratis CEO Chris Trew.
The Stratis app creates an immutable profile for its users, based on social media and contacts data. The profile and identity are permanently stored on the Stratis distributed ledger, and the profile details are available by permission only.
The Stratis identity can also be used as a proof of ownership of online accounts. This is achieved by sharing the unique Stratis private address, making it impossible to fake a collection of social media profiles. Users can also validate the Stratis identities of others.
STRAT market prices started a recovery following the recent Bitcoin spike. STRAT grew to $3.08 as of 11:00 UTC, bouncing from recent lows at around $2.33. In the past month, STRAT sank as low as $2.14.
!STRAT!
The recovery in STRAT prices reveals the coin’s connection to BTC, as most trades happen in that pair. There is practically no inflow of Tether (USDT) into STRAT trading, meaning that the asset may be boosted or moved down by Bitcoin whales. Investing in STRAT therefore has a different risk exposure, and traders may look for gains in Satoshi, not in dollar terms.
Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. Cryptocurrency trading and investing is risky and market participants are advised to always conduct a thorough research.
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