CryptoMediaClub
Monday, July 7, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Polkadot’s KILT Identity Blockchain Integrates With Deloitte

06.05.2023
A A
0
126
VIEWS
ShareShare

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,

ADVERTISEMENT

“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.”

The exec further highlighted the convenience, cost-effectiveness, and security aspects of using digital credentials and its potential to set the stage for new digital marketplaces, from e-commerce and DeFi to gaming.

Meanwhile, Deloitte will be tasked with digitally signing the credentials, and the accounting firm can revoke them using blockchain technology if the conditions of the customer have altered after the credential was issued.

Polkadot’s KILT

Polkadot KILT’s tech is a blockchain-based decentralized identity solution that seeks to eliminate existing inefficiencies around KYC/KYB processes that can put consumer data privacy at risk. The latest integration follows yet another collaboration with Axel Springer, which happens to be one of Europe’s largest digital publishers, to introduce a service for login based on Web3 tech.

Last year, it announced the launch of an application called – web3name – for creating a custom name to represent users’ digital identity. The goal was to ramp up the transparency of users’ identities without sacrificing the privacy involved with personal data.

SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

Share10Tweet6ShareSharePin2

Related Posts

BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?
All news

BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?

07.07.2025
0

The BONK-powered memecoin launchpad, LetsBONK, continues to demonstrate its value proposition for both Solana and the broader BONK ecosystem through...

Read moreDetails
Pepe Price Prediction: PEPE Explodes Out of Falling Wedge Pattern – $1 PEPE Next Target?

Pepe Price Prediction: PEPE Explodes Out of Falling Wedge Pattern – $1 PEPE Next Target?

07.07.2025
Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

07.07.2025
Bitcoin Price Prediction: ‘Rich Dad Poor Dad’ Kiyosaki Hopes for a Massive Crash – What is Smart Money Expecting?

Bitcoin Price Prediction: ‘Rich Dad Poor Dad’ Kiyosaki Hopes for a Massive Crash – What is Smart Money Expecting?

07.07.2025
Mercado Bitcoin to Tokenize $200 Million in Financial Assets on XRP Ledger

Mercado Bitcoin to Tokenize $200 Million in Financial Assets on XRP Ledger

07.07.2025
Load More
Next Post
Bitcoin (BTC) Meets 46.1M Non-Zero Addresses, Soaring Adoption

Bitcoin (BTC) Meets 46.1M Non-Zero Addresses, Soaring Adoption

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

California approves blockchain-based digital wallet for gov’t services

California approves blockchain-based digital wallet for gov’t services

2 years ago
Web3 Industry Raises $2.5 Billion in Q1 2024

Web3 Industry Raises $2.5 Billion in Q1 2024

1 year ago
Crypto VC Activity Drops in Q2 2023 – What Does This Mean for the Industry

Crypto VC Activity Drops in Q2 2023 – What Does This Mean for the Industry

2 years ago
Bitcoin Supply On Exchanges Has Almost Depleted, Says Bybit

Bitcoin Supply On Exchanges Has Almost Depleted, Says Bybit

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Coinsilium’s Strategic Bitcoin Accumulation: A Bold Move in Digital Assets

Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

Bitcoin Price Prediction: ‘Rich Dad Poor Dad’ Kiyosaki Hopes for a Massive Crash – What is Smart Money Expecting?

Bitcoin Price: Unveiling Four Crucial Trends Shaping BTC This Week

Mercado Bitcoin to Tokenize $200 Million in Financial Assets on XRP Ledger

Why Is Crypto Up Today? – July 7, 2025

Trending

BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?
All news

BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?

07.07.2025
0

The BONK-powered memecoin launchpad, LetsBONK, continues to demonstrate its value proposition for both Solana and the broader...

Canaan’s Astounding 1,484 BTC Holdings: A Bitcoin Mining Powerhouse Emerges

Canaan’s Astounding 1,484 BTC Holdings: A Bitcoin Mining Powerhouse Emerges

07.07.2025
Pepe Price Prediction: PEPE Explodes Out of Falling Wedge Pattern – $1 PEPE Next Target?

Pepe Price Prediction: PEPE Explodes Out of Falling Wedge Pattern – $1 PEPE Next Target?

07.07.2025
Coinsilium’s Strategic Bitcoin Accumulation: A Bold Move in Digital Assets

Coinsilium’s Strategic Bitcoin Accumulation: A Bold Move in Digital Assets

07.07.2025
Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

Fukuoka Financial Group to Develop Stablecoin and Web3 Wallet on Solana

07.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz