IBM and SecureKey Technologies to Deliver Blockchain-Based Digital Identity Network for ConsumersMarch 20, 2017
LAS VEGAS, NV -- IBM InterConnect and SecureKey Technologies are working together to enable a new digital identity and attribute sharing network based on IBM Blockchain. The network will be designed to make it easier for consumers to verify they are who they say they are, in a privacy-enhanced, security-rich and efficient way. When launched later this year, consumers can use the network to instantly verify their identity for services such as new bank accounts, driver's licenses or utilities.
To create a highly secure, global and enterprise-ready ecosystem for sharing identity requires both advanced federated identity technology and blockchain technology specifically designed for regulated industries. Together SecureKey and IBM are developing a digital identity and attribute sharing network using IBM's Blockchain service which is built on top of the Linux Foundation's open source Hyperledger Fabric v1.0. As a permissioned blockchain, the Hyperledger Fabric is an essential component in delivering services that comply with regulations where data protection and confidentiality matter.
The network is currently in the testing phase in Canada, and once it goes live later in 2017 Canadian consumers will be able to opt-in to the new blockchain-based service using a mobile app. Consumers – or network members – will be able to control what identifying information they share from trusted credentials to the organizations of their choice, for those organizations to quickly and efficiently validate the consumer's identity and arrange new services. For example, if a consumer has proven their identity with their bank and a credit agency, they can grant permission to share their data with a utility to create a new account. Since the bank and the credit agency have already gone through extensive verification of the consumer's identity, the utility can choose to rely on the fact that the information is verified, and the consumer can be approved for new services.
Canada's leading banks, including BMO, CIBC, Desjardins, RBC, Scotiabank and TD joined the digital identity ecosystem in October, 2016, investing $27M collectively in SecureKey. The Digital ID and Authentication Council of Canada (DIACC) and the Command Control and Interoperability Center for Advanced Data Analytics (CCICADA), a research center of excellence funded by the U.S. Department of Homeland Security Science & Technology Directorate, have also provided funding to bring the new approach to digital identity to market. SecureKey's leadership in identity is evidenced by its association with industry leaders and regulators such as DIACC, Privacy By Design, NIST, FIDO, OIX, Kantara and the Linux Foundation.
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