to reportto report, the Spanish banking consortium Niuron announced the development of a blockchain platform to realize identification and identity records when customers open an account for the first time, and further verify customers' digital identities. The platform is expected to be completed by the end of this year.
The banking consortium Niuron believes that the blockchain platform being built will reduce customer registration time, improve operational efficiency, and increase customers' control over their personal data; in addition, it will also reduce fraud and money laundering.
It is reported that the platform uses blockchain technology to simplify the existing digital identification process and complies with EU General Data Protection Regulation (GDPR) rules and modern security standards. After the platform is built, it will realize the sharing of customer data among different banks and financial institutions.
andAbanca、Bankia、Caixabank、Caixa Ontinyent、Ibercaja、Kutxabank、Liberbank、Unicaja BancoandCecabank. Among them, Caixabank is the third largest bank in Spain in 2017, and Ibercaja, Kutxabank and Abanca are among the top 10 companies in the country.
On May 25 this year, the EU passedGDPRThe legal framework is expected to create about 75,000 jobs, while Fortune Global 500 companies will spend about $8 billion to ensure compliance with the new regulations. The new GDPR regulations aim to establish a unified data regulatory system within Europe and increase individual customers' control over the use and storage of their data.
In traditional financial scenarios, hidden dangers such as user identity information leakage and theft have always existed. Through blockchain technology, user identity verification and privacy protection have obvious value.
October 2016, South Korea's largest credit card company Kookmin Bank Credit Card (KB Koomkin Card) announced a partnership with Bitcoin CompanyCoinplug, integrate the latter’s blockchain identification system based on FidoChain’s private chain——Coinplug Identification System (CIS System), integrate it into its credit card service, and promote the commercialization of this technology to solve the existing problems related to identification in South Korea. security and user experience issues.
announcedannounced, will launch BankSign, a blockchain identity verification system for commercial banks, next month.
Earlier this year, American Federation of Credit Unions and Salt Lake City Blockchain StartupEvernymCooperate to release the credit blockchain digital identification system - MyCUID. CULedger President and CEO John Ainsworth meanwhile said the system will allow customers to "securely interact with their credit union," protecting members from the dangers of identity theft and fraud.
The decentralized identification system is not controlled by any single central organization, which can ensure that users fully control their own identity information. The research and development of the blockchain identification system has been going on for many years.
In October 2014, the first blockchain identification systemBitnationIntroduced, it can permanently store customer identity information on the blockchain and is expected to be the blockchain solution to replace state-issued identity documents.
In 2015, an open source identification system that passed the triple verification of identity, password and fingerprintCryptoIDEmerging, this system was planned to be used in enterprise and university systems when it was launched.Cambridge Blockchain、Trunomi、Blockstack ID、uPort、Tradle、Ripple、Netki、OneName、BitIDAnd other companies are researching and developing blockchain identification systems.
Critics have argued that public chain-based identification systems are expensive and difficult to scale. In this regard, Microsoft has innovated a technical solution on its upcoming distributed identification system (DID) based on Bitcoin and Ethereum public chains, reducing the Necessary and expensive on-chain interactions. In addition, Microsoft's LinkedIn (LinkedIn) is an obvious use case for distributed identity technology, and is considered to be a credit system that integrates personal education and work experience.
I am Zhang Yi, a reporter from Odaily. I am exploring the real blockchain. For breaking news and communicating, please add WeChat ro20110723. Please note your name, unit, position and reason.
I am Zhang Yi, a reporter from Odaily. I am exploring the real blockchain. For breaking news and communicating, please add WeChat ro20110723. Please note your name, unit, position and reason.
