The recently concluded ZKProof Community Event in Amsterdam was not all talk about the tech behind blockchain technology but also led to Deloitte informing the attendees about its latest partnership with QEDIT. QEDIT is a Privacy-Enhancing Technology provider based in Israel that got its zero-knowledge proof cryptography integrated into Deloitte’s Eduscrypt’s platform.
Deloitte’s Eduscrypt is an enterprise platform whose primary goal is to help organizations track, share, and validate user’s certificates. However, the integration of QEDIT’s zero-knowledge proof privacy tech into Deloitte’s platform is to help share data while maintaining a high level of privacy.
Reasons behind the Integration of QEDIT’s Zero-Knowledge Proof Privacy
In both instances, both platforms are leveraging blockchain technology to provide their day to day services. While blockchain technology is tamper-proof, it also has its drawbacks, and with Deloitte handling vast volumes of its client’s data, maintaining their privacy is their priority. For that, Deloitte turned to QEDIT’s Zero-Knowledge Proof Privacy.
Deloitte’s platform is an enterprise blockchain platform that can be modified to fulfill the demands of any organization. However, in Deloitte’s case, it’s used to ensure the international firm follows regulatory compliance when handling data, but that’s not at all. The platform is used to issue authentic and traceable certificates, monitor professional qualifications while still managing personal education records.
As an international firm that offers various services to different sets of clients, having a high level of privacy ensures it provides its services professionally. By employing QEDIT’s solution, parties can now share confidential info with their clients without compromising on privacy.
“Trough ZKPs, professionals can now share their credentials with employers while still controlling who gets to see what. However, they also benefit from the high levels of security since the above services being based provided based on blockchain technology.” Jonathan Rouach, CEO and Co-Founder of QEDIT.
On the other hand, a representative from Deloitte had the following to say about their recent developments.
“The integration of QEDIT’s Zero-Knowledge Proof privacy solution will help organizations trust the authenticity of a candidate’s qualifications. Besides that, ZKPs will help preserve the privacy of the data being shared while still ensuring the organization upholds rules in place.”
However, the platform also comes with additional benefits. QEDIT privacy solution also comes with tools for auditors. Through it, auditors can quickly check the regulatory compliance of their firms. The latter will help firms operation in Europe, where they must comply with GDPR rules. Similarly, it will help reduce the cost of the whole process.