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May 4, 2016updated 05 Sep 2016 11:50am

Deloitte takes control of digital identities with blockchain technology

News: Applications will help manage digital identity in the blockchain era.

By Alexander Sword

Deloitte‘s blockchain team has revealed a new solution to help users to manage and control their digital identity.

The Smart Identity solution will let users control the major aspects of their identity within a structured environment containing the information and credentials needed for trusted digital interaction.

Applications for Smart Identity will include access management, meaning the use of a single digital key to access all identity-restricted locations.

Another application is automated identification and verification of customers, while another will cover identification and tracking of assets of any form.

There is also an application being developed to handle transactions, allowing devices to obtain and transact using recognisable and standardised identity, allowing the management of assets and secure interactions with other devices, people or organisations.

Finally, Deloitte is developing an application for the digitisation of traditional identity components, such as driving licenses and passports, so that they can be included in a single digital record.

Stephen Marshall, head of financial services technology at Deloitte UK, said: "Our analysis and experimentation into the capabilities and applications of blockchain technology has led us increasingly to the question of identity."

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Marshall said that to work with new distributed platforms such as blockchain the industry "must first solve the problem of digital identity.

"The Smart Identity solution will take the first step in evolving digital identity from a disparate record-set into an empowered and verifiable digital entity. However, it is early stages and there are many obstacles that must be overcome before we see a standardised identity solution in place."

He called on businesses to collaborate with Deloitte to help develop a solution that works across all industries and sectors.

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