QEDIT’s Privacy-Enhancing Technology To Be Leveraged in Deloitte Blockchain Platform – Eduscrypt; To Transform the Process for Storing, Validating, and Sharing Education Qualifications While Maintaining User Confidentiality
QEDIT, a Privacy-Enhancing Technology provider based on zero-knowledge proof cryptography, has announced that its privacy solution has been integrated into Deloitte’s ‘Eduscrypt’ platform. The Eduscrypt solution uses blockchain technology to enable organizations to track, share, and validate the qualifications of staff.
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The announcement was made at the ZKProof Community Event in Amsterdam today, 29 October 2019.
Deloitte Blockchain Platform – Eduscrypt can be used to monitor professional qualifications, issue authentic and traceable certificates, manage personal education records, ensure regulatory compliance, and is customizable for different industry and organizational needs. Using blockchain technology, Eduscrypt enables organizations to trust in the authenticity of qualifications, reduce data errors, and provides a permissioned repository for qualifications to be shared within and across organizations.
Jonathan Rouach, CEO and Co-founder of QEDIT, said, “The integration of QEDIT’s privacy solution into Deloitte’s Eduscrypt platform is yet another tangible use-case, demonstrating the far-reaching potential of zero-knowledge proof cryptography to transform processes across a myriad of industries. Working alongside a global giant like Deloitte marks another milestone moment for us as we move to accelerate enterprise adoption of blockchain technology.”
Antonio Senatore, Chief Technology Officer of Deloitte’s EMEA Blockchain Lab, said, “Academics and enterprises both stand to benefit hugely from leveraging blockchain technology — for most organizations validating, managing and recording the education qualifications of staff and prospective hires can be a very onerous and costly process, with regulatory fines for non-compliance. Integrating QEDIT’s Zero-Knowledge Proof privacy solution ensures that organizations can trust in the authenticity of qualifications while preserving the full privacy of the underlying data, and upholding regulatory compliance.”
QEDIT’s protocol utilizes zero-knowledge proof cryptography to allow parties employing enterprise blockchains to record and authenticate the transfer of assets on a shared ledger without revealing any underlying, confidential information. Network members can verify the integrity of the proofs, but they cannot see who sent what, or how much, to whom. QEDIT also offers tools for auditors to enable regulatory compliance.
Founded by a world-class team of seasoned entrepreneurs, researchers, and developers, QEDIT leverages zero-knowledge proof (ZKP) cryptography for enterprise blockchains to enable collaboration among competitors. QEDIT’s Privacy-Enhancing Technology (PET) safeguards sensitive business data in a shared-ledger environment and facilitates companies’ compliance with local data privacy regulations.