Polkadot’s KILT Identity Blockchain Integrates With Deloitte
Polkadot announced that Deloitte Switzerland is integrating the former’s parachain KILT blockchain technology for issuing reusable digital credentials to support KYC and KYB processes.
With this move, Deloitte has become the latest major enterprise partner to come to the Polkadot ecosystem. The digital credentials in question will have extensive use cases such as regulatory compliance for banking and decentralized finance (DeFi), age verification for e-commerce, private logins, and fundraising.
Deloitte-KILT Integration
The official blog post explained that reusable KYB and KYC credentials, generated on KILT’s identity infrastructure, address the challenges associated with offering control and flexibility to the customer. As such, clients remain in control since credentials are stored in the wallet on their own devices, thereby granting them the power to choose with whom they share their credentials and which data points of the credential they make available.
As part of the integration, Deloitte will provide a wallet to the customer for the purpose of managing and sharing their credential. This new feature will be in the form of a browser extension, setting up, which would not require any prior knowledge of blockchain.
Following the development, Micha Bitterli, Head of Deloitte Managed Services, stated,
“By offering reusable digital credentials anchored on the KILT blockchain, Deloitte is transforming verification processes for individuals and entities. Deloitte has the technology knowledge, reach and trust to issue credentials that are globally accepted.”
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