PracticeAccounting FirmsDeloitte launches ‘digital identity’ prototype in blockchain push

Deloitte launches ‘digital identity’ prototype in blockchain push

Big Four firm leverages power of blockchain technology to give customers a universal ‘digital identity’

Deloitte launches ‘digital identity’ prototype in blockchain push

DELOITTE customers will soon have the ability to control and access every part of their ‘digital identity’, as the Big Four firm launched its blockchain-powered Smart Identity prototype.

Launched at a conference in New York, Deloitte revealed its Smart Identity product will allow users to create a universal digital identity powered by blockchain technology.

The solution is at proof of concept stage and Deloitte will call for greater collaboration to work towards standardised identity protocols.

Deloitte is developing a number of initial applications for Smart Identity, including the ability to use a single digital key to access any identity-restricted location, automated identification and verification of customers, and to digitise traditional identity components such as driving licenses and passports, into 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.

“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. At Consensus today, we are calling on businesses to collaborate with us to help develop a solution that works across all industries and sectors.”

Last year former KPMG technology specialist Andy Lees joined Deloitte as a partner in its financial services team, helping the firm incorporate new technologies

Related Articles

Top 50+50: Firms fall short on diversity

Accounting Firms Top 50+50: Firms fall short on diversity

2w Alia Shoaib, Reporter
Deloitte global revenues hit record $38.8bn

Accounting Firms Deloitte global revenues hit record $38.8bn

1m Emma Smith, Managing Editor
PwC to take over from Deloitte as Diploma auditor

Accounting Firms PwC to take over from Deloitte as Diploma auditor

1m Alia Shoaib, Reporter
Deloitte reports gender pay gap of 18.2%

Accounting Firms Deloitte reports gender pay gap of 18.2%

3m Alia Shoaib, Reporter
Deloitte appoints new head of private client services

Accounting Firms Deloitte appoints new head of private client services

3m Emma Smith, Managing Editor
Deloitte rises in auditor rankings with most FTSE 250 clients

Accounting Firms Deloitte rises in auditor rankings with most FTSE 250 clients

1m Alia Shoaib, Reporter
Deloitte reports revenue growth of 11%

Accounting Firms Deloitte reports revenue growth of 11%

2m Alia Shoaib, Reporter
Deloitte acquires Swedish digital agency Acne

Accounting Firms Deloitte acquires Swedish digital agency Acne

2m Alia Shoaib, Reporter