• About us
  • Contact Us
  • Privacy & Policy
CryptoCoinNewsHub.com
No Result
View All Result
Friday, July 10, 2020
  • Home
  • Live Updates
    • Cryptocurrency Prices
    • Live ICO
    • Live Exchange
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
  • Blockchain
  • Tech
  • Business
  • Trading
CryptoCoinNewsHub.com
  • Home
  • Live Updates
    • Cryptocurrency Prices
    • Live ICO
    • Live Exchange
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
  • Blockchain
  • Tech
  • Business
  • Trading
No Result
View All Result
CryptoCoinNewsHub.com
No Result
View All Result
Home Blockchain

Consensys-Backed Identity Platform Partners With PwC

September 23, 2019
in Blockchain
2 min read
0
Consensys-Backed Identity Platform Partners With PwC
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

ConsenSys-backed identity management protocol uPort has entered a partnership with Onfido and PwC to develop blockchain-based identity management in the financial services sector in the United Kingdom. 

In a Sept. 23 announcement, Ethereum-based digital identity platform uPort said that it was partnering with ID management firm Onfido and Big Four auditing firm PwC to develop a pilot for decentralized identity management. 

The three firms are exploring how portable identity verification can improve the sign-up process for customers and reduce compliance costs for financial companies. PwC exec Mike Kennelly said:

“It opens up access to financial services, helps reduce fraud and is instrumental in driving more competition into the U.K. banking ecosystem. ​PwC analysis​​ suggests technological step changes in the banking sector could bring a boost of more than £34.6bn to the UK’s economy by 2030.​”

Since the European Union’s Payment Services Directive 2 came into effect, there has purportedly been an increased demand for secure personal data-sharing solutions between financial institutions. Alice Nawfal, the strategy and operations lead at ​uPort​, added:

“Our view is that consumers will eventually be able to build dynamic, robust financial identities based on data from all financial institutions they have accounts at, and be able to port their identities across service providers.”

Blockchain identity systems can be the solution

Cointelegraph previously reported that the use of blockchain in data puts it back in the hands of those who create it. By storing personal data on encrypted, decentralized networks, users are able to grant limited access to third parties using keys in processes that are similar to sending cryptocurrency. 

RELATED  Warner Music to Build Token on New Blockchain by CryptoKitties Creator

Alastair Johnson, the CEO of e-commerce payments and ID platform Nuggets, told Cointelegraph that by returning data control to users, blockchain ID systems can both empower individuals and cut administrative costs: 

“A blockchain ID system, conversely, adopts a user-centric approach, eliminating central points of failure by empowering individuals with self-sovereign possession over their own data. A blockchain ID system would not require government bodies to store or share personal information in order for individuals to access services.”


Credit: Source link

  • Trending
  • Comments
  • Latest
Singaporean Exchange Bitrue Gets Hacked, Losing $5 Million in XRP, Cardano

Singaporean Exchange Bitrue Gets Hacked, Losing $5 Million in XRP, Cardano

June 27, 2019
Salesforce Blockchain Certifies First Ever Artwork-Painted Lamborghini

Salesforce Blockchain Certifies First Ever Artwork-Painted Lamborghini

August 16, 2019

Ethereum: Can It Be the New Bitcoin to Take Over the World?

December 16, 2019
Simetri Research Launches Dashboard for Short-Term Crypto Traders

Simetri Research Launches Dashboard for Short-Term Crypto Traders

August 23, 2019

Confiscated Bitcoins by Tax Agents Remain in a Criminal’s Wallet

February 7, 2020

XRP Beats Ethereum and Bitcoin as the Best Performing Crypto

February 1, 2020

Robin Hood- Problems in more than just Sherwood Forest

January 28, 2020

One Wallet Has 27% of Ether in Old MakerDAO Network

January 26, 2020
CryptoCoinNewsHub.com

CryptoCoinNewsHub.com is an online news portal which aims to provide latest trendy crypto news around the world with real time updates.
Email us hello@cryptocoinnewshub.com

Topics to Cover

  • Bitcoin
  • Blockchain
  • Business
  • Crypto News
  • Ethereum
  • Ripple
  • Tech
  • Trading

Whats New Here!

  • Confiscated Bitcoins by Tax Agents Remain in a Criminal’s Wallet
  • XRP Beats Ethereum and Bitcoin as the Best Performing Crypto
  • Robin Hood- Problems in more than just Sherwood Forest

Subscribe to get more

Simply subscribe to our newsletters and we will be in touch. Don't worry, we won't spam you

© 2019 CryptoCoinNewsHub.com - All rights reserved

No Result
View All Result
  • Home
  • Live Updates
    • Cryptocurrency Prices
    • Live ICO
    • Live Exchange
  • Crypto News
    • Bitcoin
    • Ethereum
    • Ripple
  • Blockchain
  • Tech
  • Business
  • Trading

© 2019 CryptoCoinNewsHub.com - All rights reserved

  • bitcoinBitcoin(BTC)$8,152.26-0.70%
  • ethereumEthereum(ETH)$175.30-1.63%
  • rippleXRP(XRP)$0.252799-0.58%
  • bitcoin-cashBitcoin Cash(BCH)$242.68-2.16%
  • tetherTether(USDT)$1.000.27%
  • litecoinLitecoin(LTC)$55.01-1.92%
  • eosEOS(EOS)$3.11-2.39%
  • binance-coinBinance Coin(BNB)$18.56-2.84%
  • cardanoCardano(ADA)$0.042556-2.10%
  • stellarStellar(XLM)$0.064655-3.04%
  • tronTRON(TRX)$0.016891-2.25%
  • moneroMonero(XMR)$58.64-0.32%
  • neoNEO(NEO)$11.682.51%
  • iotaIOTA(MIOTA)$0.245122-1.96%
  • dashDash(DASH)$65.431.15%
  • nemNEM(XEM)$0.039494-0.75%