What is Smart Identity?

Deloitte Lab
We are a specialist team within Deloitte. We advise, design, and implement innovative
… a new kind of identity
solutions applying blockchain technology.
Deloitte’s Smart Identity platform is changing the way both customers
and organisations manage digital identity. Smart Identity offers new We span all industries and are connected with a global network of blockchain and
ways for individuals, organisations, and even devices/objects to obtain, industry specialists across Deloitte.
use, and verify identity credentials when transacting with each other.

… that solves problems today

Users can create and store identity attributes such as a driving licence
Deloitte Contacts
or passport, which can be endorsed by third parties to form verifiable
credentials for use within any digital interaction. The platform enables To learn more, please contact:
automation of identity-linked processes, such as customer registration Rohit Mahajan Gaurav Shukla
or Know Your Customer (KYC). President–Risk Advisory Partner
rmahajan@deloitte.com shuklagaurav@deloitte.com
… and makes new things possible tomorrow
In addition to these processes, a Smart Identity can hold digital assets Gautam Kapoor Rakesh Kunwar
representing money or physical property and enabling users to Partner Director
complete complex transactions involving the exchange of ownership gkapoor@deloitte.com rakunwar@deloitte.com
and other forms of value transfer—all within a single platform.

• Customer identity verification • Credit rating and risk scoring

Financial for onboarding, KYC, and Insurance:
services automation and machine
learning (AML)
–– Provenance and custody
–– Automated claims
• Financial instrument modeling processing
• Payments

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Smart Identity
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Public • Digital passport/visas
• Digital driving licences
• Medical and patient identity
• Secure digital voting
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May 2019 Risk Advisory
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Smart identity How can Smart Identity be used? Who can use Smart Identity?
In the present scenario, the identity of entities (organisations, individuals, and devices) is
Organisations
fragmented. Customer information is duplicated, disconnected, and often insecure, while
Legal entities and other organisational
verification processes can be highly manual, inefficient, and expensive. Authentication and log in structures can be represented digitally, with
A customer-owned Smart attributes representing key information,
Smart Identity offers a new way for customers and organisations to manage and verify Identity to authenticate a
Digital identity such as legal entity reference and beneficial
identity, providing both privacy and security to users, and laying the foundations for a new user across multiple online
generation of highly automated digital services. documents ownership. Employee relationships can also
platforms
Digitisation of traditional be represented digitally.
identity documents, such
as driving licences and
passports, into a single,
versatile digital record, Automation of identity
which can be verified or checks (e.g., KYC)
revoked in real time Automation of the customer
Individuals
identification and verification
Individual identity records
processes; automation in
Tracking physical will enable users to
organisations; use of robots
property manage and store key
enables real-time automation
Identification and identity information, such
of KYC or AML activity
tracking of digital assets as passport or driving
of any form, ranging licence details, as well as
from vehicles and endorsements of those
IoT and connected devices
property to complex attributes from trusted
Connected IoT devices
financial instruments; sources of authority.
obtaining and transacting
core attribute details
using standardised identity
and ownership can be
features, enabling them to
tracked
securely interact with other
Contracts and identities
Internet of things
agreements Connected devices and smart property
Identities can be linked can use the same platform to acquire
directly to agreements identity, manage key attributes such as
Payment
and contracts such as ownership, and transact with the wider
Digital identities will be used
Digital Identity is a critical enabler to broaden applications to insurance policies, paving
for storage and payment digital ecosystem.
new verticals… A fully digital system for storing and transferring the way for further
of fiat currencies, enabling
automation of contract
identity attributes could be directly integrated into distributed execution based on pre-
real-time verification of
financial Infrastructure.” determined triggers
transaction eligibility, and
instant settlement “A blockchain-powered Smart Identity can also be used to send,
World Economic Forum, Aug 2016
receive, and store digital assets such as currency or property.”