By Alexander Shelkovnikov, Corporate Venturing & Blockchain Lead, Deloitte
Despite technological advances, the way we provide our identity to others remains reliant on paper and plastic documents, physical contact and handwritten signatures.
What if there was a simpler way to manage identity?
Our analysis and experimentation into the capabilities and applications of blockchain technology has led us increasingly to the question of identity. Today, identity information is held by every organisation that a customer touches. Customers are forced to share information from different sources with multiple organisations on an ongoing basis.
New distributed platforms are set to rewire our digital economy and in order to make the most of this opportunity, we must first solve the problem of digital identity.
Smart Identity offers new ways for individuals, organisations and even devices/objects to obtain and use verified identity credentials to transact with one another. Users can create and store identity attributes like an ID reference, driving license or passport, which can be endorsed by third parties to form verifiable credentials for use within any digital interaction.
The platform is designed to put the customer back in control of their identity, help solve industry-wide problems of identification, and support organisations in meeting forthcoming regulatory changes regarding the ways companies must handle customer data.
Take a look at our video, to understand more about our Smart Identity platform.
Looking ahead, a smart identity could hold digital assets representing money or physical property, enabling users to complete complex transactions involving the exchange of ownership and other forms of value transfer, all within a single platform.
If you would like to find out more about our Smart Identity platform or join our network of platform contributors, please visit our webpage or you can contact Alexander Shelkovnikov, Corporate Venturing & Blockchain Lead at Deloitte.