Deloitte Announces Plans to Place Digital Identity on the Blockchain

Deloitte Announces Plans to Place Digital Identity on the Blockchain

Blockchain, News

Deloitte Announces Plans to Place Digital Identity on the Blockchain

On November 5th, Deloitte announced via a press release a partnership with Attest Inc to facilitate government digital identity on the blockchain. Users will be able to store government and corporate identities on a distributed ledger. Through this technology people will be able to control their digital identities and who has access to them. The project is focused on giving users control over state-issued identities, reducing the role and scope of government instead of enlarging it.

The Deloitte/Attest Inc partnership

Attest Inc was founded in March 2018 by two former government employees, who left their roles to provide a more efficient solution. Two products are currently being built by Attest, a wallet for users and an enterprise-level application for government and corporations. These tools are designed to be secure, easy to use, and smooth to integrate into other systems via two simple API’s. Attest is providing the user-centric technology, while Deloitte has undertaken significant research into the application of DLT in the public sector.  While Attest is aiming to place the identities in the control of the user, Deloitte puts more of an emphasis on the role of government. According to Wendy Hendry, Managing Director of Deloitte Consulting LLC –

“While many companies are looking at using a personal wallet in which the individual has control of their digital identity credential, government must serve the whole of citizens, including those who may not be able to accept the control of their identity credential in a digital form. Working with Attest, we will be able to help government clients offer solutions using digital identities that better accommodate the needs government has across that wide expanse of abilities.”

The importance of digital identity on the blockchain

Digital identities are one of the most promising aspects of digital ledger technology with a vast array of use cases, and securing digital identities is a matter of paramount importance as cybercrime proliferates. It comes with huge benefits, given how much resources go into the simple verification of digital identity across all sectors, especially the air transport industry.

It will eventually allow for a complete replacement of all physical documents such as passports, birth certificates, driving licenses, and national identity cards. All these files will be easily accessible with a device at the discretion of the user. It will also drastically reduce the administrative burden and paper wastage associated with physical documents, saving on both time and money. Regions such as Dubai are already trying to create a passport-free airport and establish a government that relies solely on blockchain technology. The benefits of secured digital identities on a distributed ledger are vast. Cab Morris, CEO of Attest Inc, stated that –

“Combining government’s robust identity verification infrastructure with a platform engineered for security, privacy and scale can also unlock tremendous value for both citizens and businesses outside of government. A government-issued digital identity has the potential to reduce costs and risk for businesses in all industries, while also providing citizens with greater security, privacy and control over personal data.”

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Law graduate with 3 years experience as a consultant in the capital markets industry and 4 years experience freelancing on UpWork as a Creative Writer.