Deloitte Touche Tohmatsu Limited, announced at the ZKProof Community Event that it had adopted QEDIT’s zero-knowledge proof (ZKP) technology to enhance the credibility, privacy and security of its credentials platform, Eduscrypt.
QEDIT is a tech company that helps businesses and organizations accelerate trust with its Zero-Knowledge Blockchain protocol. By integrating the firm’s ZKP solution, users can utilize data on a Blockchain, such as identities and asset transfer information, without compromising the security of private information.
Meanwhile, Delloite’s Eduscrypt, which is based on Ethereum’s permissioned version, helps organizations in terms of tracking, validating, and sharing qualifications. However, there are particular situations where it is of utmost importance to monitor and control the data being shared, as well as with whom. As assumed by industry experts, such instances had prompted the European Union to issue the General Data Protection Regulation, a guideline that prohibits the unsystematic sharing of an individual’s private information.
To avoid compromising private information, ZKP replaces Blockchain data with proof about that particular data. The system allows one party to prove the authenticity of the data to another party without revealing anything at all about the data.
By integrating QEDIT’s privacy proof, Eduscrypt users would be able to validate the qualifications submitted by their employees without seeing where or when it was earned. Notably, the credentials platform relies on Blockchain for the trustworthiness of the qualifications. With the addition of the ZKP solution, firms would now find it easier to secure private information and to comply with existing regulations.
As noted by Deloitte’s EMEA Blockchain Lab CTO, Antonio Senatore, enterprises, and academics alike would greatly benefit from the newly-integrated technology. The former would be able to validate, record, and manage the staff’s education qualifications while the latter can effectively avoid a costly and lengthy process.
Meanwhile, Jonathan Rouach, the co-founder and CEO of QEDIT, noted that the partnership with Delloite demonstrates another valuable application of ZKP technology. He further said that the tangible results would soon convince other organizations operating across a variety of industries to adopt the ZKP cryptography.