Deloitte, the largest professional services network in the world, has inked a partnership with Chicago-based identity management firm Attest Inc. to introduce a blockchain-powered digital identity system.
As per a press release published November 5, the partnership between Deloitte and Attest Inc. will see the development of a digital identity system for government clients, anchored on Attest’s existing digital identity solutions, among which includes a cryptographically secured identity storage akin to a crypto wallet. Attest Wallet will provide a single digital storage for clients’ government-issued IDs and business credentials, allowing users to have full control over the stored data.
In addition, Deloitte will also be trialing Attest Enterprise, which consists of two application programming interfaces (APIs), allowing clients to validate their identity as well as provide users the option to authorize others to manage their personal information on their behalf.
As Deloitte Consulting LLP managing director Wendy Henry remarked in the release:
“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.”
Highlighting the benefits the system could provide, Attest CEO and co-founder Cab Morris also commented:
“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.”
The collaboration follows on the heels of a previously inked partnership between Deloitte and the Institutes RiskBlock Alliance in an effort to support the blockchain consortium’s expansion to Canada. As Deloitte indicated in an announcement published September, RiskBlock Alliance will be working with Canadian-based property-casualty and life/annuity insurers, allowing it to register a legal identity in Canada, while Deloitte will be addressing the life cycle of the insurance transaction by overseeing the development, prioritization, and methodology of a number of blockchain-based applications.
In October, Deloitte has also published an article outlining five key vectors of development that may potentially pave the way to blockchain technology’s global adoption. Among these areas include the absence of standardization, the complexity and exorbitant cost of blockchain-based applications, time-consuming operations, the need for regulatory clarity, as well as the lack of cooperation between blockchain startups.