Spain, Nov. 7, 2020 /AlexaBlockchain/ – Banco Santander along with ten other Spanish companies are developing a self-managed digital identity model using blockchain technology. The project has been named as ‘Dalion’.
Santander confirms the completion of its concept test. The second phase of the project begins this month, and the system is expected to be rolled out in May 2021.
Banco Santander revealed in a press release that the digital identity system will give users control over their personal data, making digital identity self-managed by each person in a secure and reliable manner a reality.
Dalion is being developed by Banco Santander, Bankia, BME, CaixaBank, Inetum, Liberbank, Línea Directa Aseguradora, Mapfre, Naturgy and Repsol, and also the Alastria consortium. This initiative is open to new partners in order to boost its usage.
During the concept test the companies found that the solution works satisfactorily. The companies participating in this concept test see great potential for all sectors.
At the present time, the demos function on one of the Alastria consortium’s blockchain infrastructures (Ethereum-Quorum). This is a pioneer development in the use of the open-code libraries developed by the Alastria Identity Committee. In the months ahead work will also be carried out on other aspects of technical implementation and use cases.
The project undertaken by these companies is a technological challenge that will bring Spain to the fore in terms of blockchain and identity management, a basic issue in digital environments for both users and businesses. The solution will also help fight attempted fraud and identity theft with greater efficiency.
This digital identity solution is based on the Alastria digital identity model (Alastria ID). Alastria is the first multisector consortium, composed of 600 partners including large companies, SMEs, public authorities and academic institutions, which aims to establish a public permission-based blockchain infrastructure, designed pursuant to Spanish and EU regulations.