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
The average cost of fraud increased 35.4% to £3.9m in 2016, compared to 2015 data
Harrison Beale & Owen will (HB&O) have a new chairman and managing director at the helm for 2017
Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal