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Deloitte and Attest Partner To Bring Digital Identity Blockchain Solutions To Government

Deloitte, a multinational professional services network, and Attest, an identity management organization recently partnered to help Government clients with their digital identity challenges. According to the press release published on November 5, 2018, the collaboration will help Government organizations transform their existing systems with blockchain technology. Introducing a Government-Issued Digital Identity According to Wendy Henry, the Managing Director of Deloitte...Read More. The post by Cindy Huynh appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News
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Deloitte ‘Big Four’ Accounting Firm and Attest Crypto Project to Build a Blockchain ID Management System

Deloitte to Partner With Attest to Develop a Blockchain Identity Management System There will be those who will always decry government interference over a persons privacy. After all, America was founded on the embers of a fire lit by the friction between the government of the day and its people. However, in today's time an identity management system will do more good than harm. Well known accounting firm Deloitte has partnered with Attest Inc, an identity management Startup, to develop a blockchain-based digital identity system. This collaboration is intended to create a digital identity for government-compliant identifiers. This will be used by Deloitte’s clientele in conjunction with products offered by Attest. Deloitte Consulting's managing director, Wendy Henry, stated that: “While many companies are looking at using a personal wallet in which the individual has control of their digital identity credential, government must serve the whole of citizens, including those who may not be able to accept the control of their identity credential in a digital form.” These sentiments were echoed by Cab Morris, co-founder and chief executive officer of Attest. He went on to note, “A government-issued digital identity has the potential to reduce costs and risk for businesses in all industries, while also providing citizens with greater security, privacy and control over personal data.” There are plans for two main offerings: Attest Wallet: is intended to be a cryptographically secured identity storage, not dissimilar to a cryptocurrency wallet. It is going to allow users to store a digital version of government and business identifications and allow users control over who can access the said information. Attest Enterprise: This will primarily comprise of two APIs (application programming interface). These will allow the end user to verify their identity and provide consent for third party access as well as to manage their data. A little background information about the Chicago-based Attest. It is an identity management company. Their business helps consumers and businesses with secure transactions on a shared identity platform. This platform will allow the government a convenient yet secure identity service to offers its citizenry; at no or low costs. It will also benefit consumers by allowing them full control over their personal data. Finally, it gives businesses a high level of “trust “with consumer transactions. To the few who are unaware, Deloitte is a behemoth in the field of audit, consulting, tax and advisory services. It provides its servers to almost all the leading brands. The company is partnered with over 85 percent of the Fortune 500 and over 6,000 private companies. In the last few months, Deloitte has been steadily getting more and more involved in the crypto sphere. They announced their collaboration with the Institutes RiskBlock Alliance blockchain consortium. While the alliance will be collaborating with Canadian-based property-casualty and life/annuity insurers, Deloitte will look after the methodology and development of the insurance transaction life cycle, via various blockchain applications. Recently, Deloitte outlined five areas of development that the blockchain technology needs to focus on: It has noted, to enable wider reach, the technology needs to be prepared for the possibility of operations with high gestation periods. The industry needs to seriously address the issue of a lack of standardization. They also highlighted the high level of complexity and the resulted costs of blockchain applications. The uncertainty surrounding the industry in terms of government regulations also corrodes confidence Finally, a clear lack of a collaborative effort amongst various blockchain companies hurts the entire industry. An effort of this scope, undertaken by an established player of this repute is an encouraging sign for the future of the industry.
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Deloitte, Attest Partner To Bring Blockchain Identity Management Solutions To Government Market

Consulting and accounting firm Deloitte has partnered with Chicago-based startup Attest to help government clients solve digital identity challenges. Attest is an identity management company that enables consumers, businesses and governments to securely transact on a shared identity platform. The company allows governments to offer a convenient and secure identity service to citizens at no or with low costs. It also allows consumers to regain control of their digital footprint and unlock the value of their personal data, and businesses to extend “government-grade trust” to all transactions with consumers. Deloitte will be working with Attest to assist government clients with digital identity solutions to help solve for a host of government challenges. The two companies will develop government-compliant identifiers that can be used by Deloitte’s clients based on Attest’s existing products – Attest Wallet and Attest Enterprise. Cab Morris, co-founder and CEO of Attest, said that identity is foundational to nearly every government service and is the basis for trust and legitimacy in the public sector. “Combining government’s robust identity verification infrastructure with a platform engineered for security, privacy and scale can also unlock tremendous value for both citizens and businesses outside of government,” Morris said. “A government-issued digital identity has the potential to reduce costs and risk for businesses in all industries, while also providing citizens with greater security, privacy and control over personal data.” Attest that its wallet service will provide users unparalleled agency, privacy and security when sharing verified personal data with governments and businesses. While Attest Enterprise will provide governments and businesses a complete set of “powerful” authentication, authorization and consent management tools that can be integrated into any system with two simple APIs. Wendy Henry, managing director of Deloitte Consulting LLP and Deloitte’s government and public services blockchain leader, said that the partnership will enable them to help government clients offer solutions using digital identities that better accommodate the needs government has across that wide expanse of abilities. “While many companies are looking at using a personal wallet in which the individual has control of their digital identity credential, government must serve the whole of citizens, including those who may not be able to accept the control of their identity credential in a digital form,” Henry said. According to Deloitte, blockchain offers government organizations an opportunity for true collaboration and transformation. It expects early adopters to see the benefits sooner than most, while establishing themselves as leaders in areas that are likely to grow in importance over time. “Blockchain requires a digital credential and in government, requiring a digital credential gets complicated pretty quickly,” said Marc Mancher, principal, Deloitte Consulting LLP and government and public services practice’s automation service business leader. “Attest brings a set of solutions to help address this issue of digital credentials, making the use of solutions that require that digital identity more appealing technology for government clients.”
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OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts

The recent popularity Initial Exchange Offerings (IEO) have been experiencing over the last few months has brought what it appears to be like a new bull run. An incredible example of success is the OKB token issued by OKEx, one of the largest cryptocurrency exchanges by trading volume in the world, which has impressed the market beyond expectations having experienced an increase in the price of 163% since launched. Shinobi Capital, a leading blockchain advisory firm and also an investor in early-stage start-ups, has released its latest evaluation report estimating that the OKB price will grow further to US$30.75, 17 times the current price, by the end of 2020. According to Jason Hill, the founding partner of Shinobi Capital:  Exchanges tokens will be the powerhouse of the development of the digital asset market and even blockchain technology. Following a series of IEOs powered by exchange tokens in H1 2019, the market is marching to the next round of bull run. OKB, as a market leader of exchange tokens, is also welcoming its own uptrend. Backed by a number of use cases and a large user base of OKEx, OKB has demonstrated a huge potential of growth. The established blockchain and cryptocurrency advisory firm is well-known for its extensive experience in start-up investment. In their evaluation report of OKB, Shinobi Capital lays out the two most important factors that will affect OKB’s future trading volume, the development of the OKChain mainnet and the overall the crypto market condition. Furthermore, the report also establishes a comparative evaluation model with other major platform tokens, including Binance Coin (BNB), EOS, and TRON (TRX). This comparative evaluation studies different aspects of each token such as trading volume, price patterns, and usage demand. The latest OKB buy-back & burn program is also taken into account to evaluate the token’s future price trend. It is expected that by the end of 2020, the price of OKB will reach USD30.75 and its market capitalization will be about USD7.068 billion. There is a significant growth lag in OKB at this stage, and the potential of price growth needs to be further released. In the next round of market recovery and boom, OKB is likely to become one of the fastest-growing assets in the market. Disclosure: This is a sponsored press release The post OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts appeared first on NullTX.

Ethereum Classic presents roadmap to improve DApp development and overall infrastructure

Experts of the cryptospace are making use of DApp services to simplify the entire blockchain process. Along these lines, Ethereum Classic’s [ETC] core development team has put forth an initiative to revamp its existing ecosystem. Moving forward with an aspiration for refinement, ETC’s team is developing fresh features over blockchain technology, a development that will […] The post Ethereum Classic presents roadmap to improve DApp development and overall infrastructure appeared first on AMBCrypto.

David Marcus Grilled During Facebook's Senate Hearing

During the first of two congressional hearings regarding Facebook's Libra cryptocurrency, project lead David Marcus went as far as to say he'd be willing to take his salary in Libra after intense grilling from Senator Sherrod Brown.
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David Marcus Questioned Over Libra by Congress

Facebook is finally facing its reckoning as David Marcus, head of the company’s blockchain division and the leader of Libra, the venture’s new cryptocurrency, was grilled by Senate members who refuse to believe in Facebook’s allegedly noble financial plans. Libra: A Congressional Issue? Many people have a hard time believing in Facebook’s morality following the Cambridge Analytica scandal. Discovered in 2018, Facebook had allegedly been selling users’ private data for years to third parties for advertising purposes. Following Mark Zuckerberg’s Senate hearing last year, trust in Facebook has fallen to an all-time low. In many ways, this new “congressional step” for the social media conglomerate should serve as a huge learning experience. When you’re a company of Facebook’s size and you do anything to compromise the safety or privacy of your customers, you can bet it’s going to take a long time to earn their trust back. Facebook is learning this lesson in spades right now, as several Senators taking part in the hearing commented about the lack of trust they feel towards the company and its executive team. Sherrod Brown, a Democrat from the state of Ohio, commented:  Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust. We’d be crazy to give them a chance to let them experiment with people’s bank accounts. Senator Martha McSally, a Republican from Arizona, stated that Facebook is simply trying to shift gears and get people to focus on something else entirely, in this case cryptocurrency. Rather than seriously attempt to fix its reputation, it’s working to divert people’s attention with an entirely new product. She says: I don’t trust you guys. Instead of cleaning up your house, you are launching into a new business model. In addition, Facebook is also being criticized for its complete lack of coordination with policymakers. Throughout the early development of Libra, Facebook’s executive team failed to make any contacts with regulators or legal authorities to potentially understand how the cryptocurrency could better satisfy present financial laws and terms.  Trust Takes a Long Time to Build At least David Marcus isn’t lying to himself. He acknowledged during the hearing that it would likely take a while before the company can earn people’s trust well enough that they would provide their banking details. He states:  I want to make it clear that we are only at the beginning of the journey. We expect the review of Libra to be one of the most extensive ever. Facebook will not offer the Libra currency until we have addressed the concerns and receive appropriate approvals… We will not control Libra and will be one of over 100 participants that will govern over the currency. We will have to gain people’s trust if we want people to use our network over the hundreds of competing companies. The post David Marcus Questioned Over Libra by Congress appeared first on Live Bitcoin News.
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Waves CEO Has Sold His Stake At Vostok, A Waves Blockchain Affiliated Project

Alexander Ivanov, the founder, and CEO of Waves has recently decided to fully sell his stake of Vostok, blockchain spin-off of the Waves platform. According to a recent press release, now only the GHP Group, which bought all the stakes, will be the owner of the project. The CEO also affirmed on the press release that […]
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