Deloitte Leverages Zero-Knowledge Proof On New Eduscrypt Platform
'Big Four' accounting firm, Deloitte has partnered with cryptography startup Qedit to leverage zero-knowledge proof privacy tech on its new qualification information blockchain platform.
The announcement was made on Oct. 29 at the ZKProof Community Event in Amsterdam. The team-up between Deloitte and Israeli startup Qedit aims to facilitate privacy enhancements, giving more control to users over how a blockchain can share their education and career data while enabling the organization to track and validate the qualifications of its staff.
Antoine Senatore, Chief Technology Officer, Deloitte’s EMEA Blockchain Lab believes that there are huge advantages to leveraging blockchain for both academics and enterprises. He said in a statement, “For most organizations, validating, managing and recording the education qualifications of staff and prospective hires can be a very onerous and costly process, with regulatory fines for non-compliance. Integrating Qedit’s Zero-knowledge Proof privacy solution ensures that organizations can trust in the authenticity of qualification while preserving the full privacy of the underlying data, and upholding regulatory compliance.”
Shared But Private
Deloitte’s Eduscrypt runs on a permissioned version of the Ethereum network and allows organizations to track, share and validate an employee’s qualifications and career history. However, certain laws such as the General Data Protection Regulation in Europe prohibits the free-sharing of an individual's information, and in this case, it becomes critical to have control over how the information is shared or organizations could face serious litigation.
By integrating zero-knowledge proof technology, organizations can avoid putting any real data on the blockchain and replace the data with proofs that it exists and is valid. Essentially it allows secure and authentic conveyance of proof of an individual's background without every really sharing the information.
Jonathan Rouach, Co-Founder and CEO, Qedit explained, “You can have a person prove their credentials and reveal them to the right people and fully retain control of who gets to learn what, and still have that in a notarized blockchain with all the security that it provides.”
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