Forbes ASIA — BAASID FOCUSES ON PROTECTING THE DATA ACROSS THE BLOCKCHAIN
Amid all the hype around blockchain and its popular creation — cryptocurrency-skeptics are wondering whether the data stored using this innovation is secure. BaaSid, which is short for Blockchain as a Service for identification, seeks to address this concern by providing data authentication and a secure storage location.
Founded in 2017, BaaSid develops applications using blockchain technology-the decentralized digital ledger on which transactions can be recorded BaaSid’s key products are Soteria, a decentralized data storage platform, and Pistis, an authentication system such as DID (W3C standard Decentralization Identity), 2FA.
These form part of an offering known as blockchain-as-a-service, the third-party management of the company, and institutional blockchain applications.
The company’s board members James Huang, Moon Inshic, Otaka Jun and three others, have been working on IT security for more than a decade, initially using the technology in telecommunications and then in online gaming.
“We had been working with a company that was involved in blockchain and wanted an opportunity to learn more about it and how it could help internet businesses,” says Huang, who is the CEO of BaaSid Taiwan.