Canadians to use blockchain for digital IDs

Tuesday 14 November 2017 00:24 CET | News

Soon Canadians will be able to verify personal information for everything from driver’s licenses to banking using mobile phones and blockchain.

The new digital-identity system is developed by SecureKey Technologies and underpinned by IBM’s blockchain technology, and it will be revealed in the first half of 2018. Consumers will be able to instantly prove who they are to banks, telecom providers and governments using apps on their phones and Windows devices.

The technology puts control of personal information directly in consumers’ hands and uses blockchain, the digital ledger, to privately share details without going through a central system.

Canada’s six-largest lenders, including Toronto-Dominion Bank and Royal Bank of Canada invested USD 24 million in the project. The country’s three main wireless carriers, owned by Rogers Communications, Telus and BCE, are also involved through their EnStream venture, along with a number of provincial governments.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: blockchain, digital identity, SecureKey Technologies, IBM, digital onboarding, authentication, identity verification, Canada
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

Industry Events