One of the world’s largest audit and consulting firms, Deloitte, will use Polkadot’s KILT Protocol parachain technology to improve its KYC/KYB-processes.
1/ @DeloitteCH — the world’s biggest accounting firm — is the latest major enterprise partner to come to the Polkadot ecosystem, choosing cutting-edge tech provided by the @Kiltprotocol parachain to enhance its identity protocols. pic.twitter.com/nkqr0i1s0I
— Polkadot (@Polkadot) May 4, 2023
The company uses KILT Protocol reusable digital identities.
The technology provides regulatory compliance in banking and DeFi, age verification for e-commerce. The protocol works with private logins and can be useful as a tool in fundraising rounds.
Reusable certificates are stored in clients’ wallets. The latter have a choice to whom they can provide their data.
Deloitte will develop a browser extension to manage the tool.
“KILT Protocol is transforming the verification process for individuals and businesses”– Misha Bitterli, head of Deloitte’s managed services department, said.
According to the founder of the ingoruebe project, Polkadot provides the scalability and security that corporations need.
Recall that Ethereum co-founder Vitalik Buterin named decentralized identification tools among five exciting development vectors.
Earlier, the European Parliament approved the text of the bill expanding to DAO, NFT and DeFi platforms AML-requirements similar to Tradfi.
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