Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook Follow The Paypers on Google +
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Digital Identity, Security & Online Fraud

Canadians to use blockchain for digital IDs

Tuesday 14 November 2017 | 12:24 PM CET

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.

More: Link
 advertisement
 advertisement
 advertisement
 advertisement