Ten leading Spanish companies – including Santander, LiberBank, Bankia, Caixa Bank, and BME – are planning to roll out a self-managed digital identity model using blockchain technology.
Self-managed identity enables people to have their personal data in a single digital identity, backed by the companies involved and stored on their own mobile device. Users may decide who to share the data with at any time with no need to fill in tedious forms. For example, they may use their data validated by other organisations to hire a car, take out insurance or arrange a loan in just a few clicks.
The project is based on the Alastria digital identity model, which uses Ethereum and Quorum blockcain infrastructure to handle the transfer of user IDs between the participating organisations. Alastria is a multi-sector Spanish consortium, composed of 600 partners including large companies, SMEs, public authorities and academic institutions.