Deloitte Looks to Build Digital-Credential System on Blockchain

Deloitte Consulting is looking to utilize blockchain technology to establish digital credentials that can be used for everything from regulatory compliance in banking and decentralized finance to age verification for e-commerce.

The reusable credentials will be anchored on the KILT blockchain, Deloitte said in a statement, which noted that the aim is to make identity verification more efficient for both businesses and customers.

With a shaky crypto market and growing regulatory concerns regarding crypto’s role in the US, Deloitte’s embrace of blockchain represents a rare bright spot for the digital-asset industry.

“Digital credentials that are convenient, cost-effective and secure have ...