Deloitte Boosts Privacy Tech to Its Enterprise Blockchain Offering via Zero-Knowledge Proofs
Deloitte, known as one of the four largest auditing firms in the world, has now added zero-knowledge proof privacy technology to EduScrypt, it's enterprise blockchain solution. EduScrypt can be used to help companies that want to use the blockchain to analyze their staff. They can track people, share information about them and their qualifications using this product.
Now, Deloitte revealed during the ZKProof Community Event, which was held recently in Amsterdam, that it would start a partnership with QEDIT, a team of privacy experts from Israel, to implement these new features to the service.
EduScrypt uses a modified version of the Ethereum blockchain and has risen in prominence recently, as more companies are interested to share information about people without everyone viewing it. The new laws from the General Data Protection Regulation (GDPR), for instance, forbid companies from sharing information about its employees freely.
Jonathan Rouach, the co-founder of QEDIT, affirmed that networks will now be able to verify members without necessarily sharing so much information. The personal information of an employee will continue to be private with the technology and people will have access. He said:
“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 notarised blockchain with all the security that it provides.” […] “For example, a person is going to prove that they have a security certification from some IT school, but then they also learned statistics for gamblers. So when they go to apply to a bank, they would like to show that they are proficient in security but not anything else they might have acquired in their education,”
Antonio Senatore, the CTO of EMEA Blockchain Lab, which belongs to Deloitte, affirmed that the process of recording and managing the qualifications of the staff can generally be very onerous for companies, so the solution will diminish costs and improve the efficiency of the procedure. Further adding;
“Integrating QEDIT’s Zero-Knowledge Proof privacy solution ensures that organizations can trust in the authenticity of qualifications, while preserving the full privacy of the underlying data, and upholding regulatory compliance.”