BLOCKNEWS GEORGIA

By Nina Kikava - News - 1 week ago

Deloitte Partners With Startup for Government-Level Blockchain Identity Management

According to press release, that was published on November 5, accounting firm Deloitte teamed up with identity management company Attest Inc. to create a blockchain-based digital identity system.

Attest is a Chicago-based company and it offers a shared identity platform and giving their clients the opportunity to conduct transactions. Also, governmental customers can provide identity services to citizens.

This two companies together will develop the digital identity, which will offer government-compliant identifiers that can be used by clients of Deloitte and will be based on Attest’s already existing products. Attest has the first product that is called Attest Wallet, which is cryptographically secured identity storage like a crypto wallet. This product will make possible for users to store digital versions of their government or business IDs in one place and have control over them.

The managing director of Deloitte, Wendy Henry commented on this matter: “While many companies are looking at using a personal wallet in which the individual has control of their digital identity credential, the 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.”

Also co-founder and CEO of Attest, Cab Morris stated: “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."

In October, Deloitte also came up with five areas of development in order for blockchain to reach widespread adoption. With the help of blockchain, problems like time-consuming operations, lack of standardization, high costs, and complexity will be solved.