Major Spanish Firms Including Santander Unveil Blockchain Identity Project
A group of Spanish companies, including banks and energy firms, is working to develop a "self-managed" digital identity system using blockchain technology.
Nov 5, 2020 at 3:03 p.m. UTCUpdated Aug 19, 2021 at 5:29 a.m. UTC
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A group of Spanish companies, including banks and energy firms, is working to develop a "self-managed" digital identity system using blockchain technology.
- In an announcement sent to CoinDesk on Thursday, the group, called Dalion, said the "secure and reliable" ID platform will give users more control over their personal data, and will be accessible via their mobile devices.
- The platform will remove the need for users to fill in "tedious" forms, per the release, automatically providing the validated data required by the requesting entity.
- Dalion – which includes members such as Banco Santander, CaixaBank, LiberBank, Naturgy and Repsol – says likely use cases include car rentals, insurance and loan applications, and sign-ups at utility providers.
- Blockchain technology provides the assurance that user data has not been altered, the group said.
- The member firms hope the technology will make user registrations more efficient and will offer new business processes and models, alongside improving the experience for customers.
- A proof-of-concept trial found the ID solution worked "satisfactorily," and a second phase of development launches this month.
- Currently, the tech is based on a version of the Quorum blockchain from the Alastria consortium, a group member, and is based on digital identity work carried out previously by Alastria.
- The consortium is said to have made efforts to ensure its system aligns with Spanish and European Union regulations, including the General Data Protection Regulation.
- Dalion claims its continuation of the work can prevent duplication and errors; protect users' privacy, as their data is not stored on the blockchain; and can also prevent user activity being tracked.
- The project is slated for completion within six months, with a production rollout to follow in May 2021.
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