Deloitte has partnered with Israeli zero-knowledge proof technology experts QEDIT to add privacy to its education-credential Blockchain. The partnership will allow users to be in control of how a Blockchain shares data about their educational certificates and qualifications.
What this means is that Deloitte had added zero-knowledge proof privacy tech to its enterprise Blockchain offering. The partnership was made public at the ZKproof Community Event in Amsterdam.
By using the education-credential Blockchain, organisations can be able to track, share, and authenticate qualifications using a private permissioned version of Ethereum.
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In Europe, the General Data Protection Regulation (GDPR) forbids the sharing of individuals’ information; however, there is a way around it. You can avoid putting data on a Blockchain; instead, it can be proof of that data.
A party (prover) can prove to another party (verifier) that they are aware of secret information without exposing anything about the data. The Deloitte education-credential Blockchain will help you establish your credentials and reveal it to the right people.
According to Jonathan Rouach, co-founder and CEO at QEDIT, the zero-knowledge proof technology allows you control of who gets to learn what about your data. The Chief Technology Officer of Deloitte’s EMEA Blockchain Lab, Antonio Senatore, said:
“Validating, managing, and recording the education qualification of staff and prospective hires can be very demanding and costly for many organisations that have regulatory fines for non-compliance. By integrating QEDITS’ Zero-Knowledge Proof technology solution to education-credential Blockchain, your organisation can trust in the authenticity of qualifications. Aside from the authentication of credentials, it also allows full privacy of the underlying data while also upholding regulatory compliance.”
The Principle of Zero-Knowledge Proof Technology
Zero-knowledge proof technology is an encryption scheme that was initially proposed by MIT researchers in the 1980s. This technology allows you to prove that something is accurate to another party without revealing the identity of the “something.”
Both the Bitcoin and Ethereum networks make use of public addresses to replace the true identity of the parties involved. As a result, the transaction is partially anonymous because only the sending and receiving addresses and the amount are known to the public.
However, there is a possibility of unveiling the real identities of the addresses through some information on the Blockchain.
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Interaction records on the Blockchain can expose the private information of users.
The Zero-knowledge Proof Technology adopted by Deloitte for its education-Credentials Blockchain can make transacting parties remain anonymous. Aside from ensuring the anonymity of the transacting parties, it also guarantees that the transaction is valid.
Application of Zero-Knowledge Proof
In as much as Zero-Knowledge Proof technology complies with the General Data Protection Regulation (GDPR), it will be helpful in so many ways. For an individual that have switched careers, there is certain information he/she would want to be private.
For instance, you want to prove that you have a security certification from an IT school, but you have also learned statistics for gamblers. So, when you want to apply for a bank job, you may want to show your proficiency in security and nothing else.
QEDIT and Deloitte organised the ZKProof Community Event held in Amsterdam. Those in attendance include the likes of Facebook’s Calibra and ING Bank.
The Zero-Knowledge Proof technology deployed by Deloitte for its education credential Blockchain will bring a lot of positive change to data security and transaction authentication. Although the potential and prospects of ZKPs are enormous, there is less information about the best implementation process.
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