Dalion, the digital identity solution with blockchain, has been the first project to pass the tests of the Financial Sandbox. The project will position Spain at the forefront of blockchain and identity management, a fundamental element in digital environments for both users and companies and public administrations. The initiative, in which nine large companies from different industries in the private sector (Banca March, Banco Santander, CaixaBank, Generali, Inetum, Línea Directa Aseguradora, MAPFRE, Repsol and Unicaja Banco) and the Polytechnic University of Madrid, is moving towards its market launch. In the report on the project published, the Bank of Spain qualifies Dalion as a “promising project” and “which could represent a possible benefit for users of financial services in terms of improving the quality or conditions of access, as well as an increase in the efficiency of entities or markets” .
The ten promoting partners of the project emphasize the milestone that has meant that Dalion has successfully completed the Sandbox pilot, supervised in its case by the Bank of Spain and during which they have worked to identify various cases of identity use.
Dalion, the digital identity solution with blockchain, the first project to pass the tests of the Financial Sandbox
The self-managed identity makes it easier for people to have greater control over their personal data, enjoying an agile and simple user experience. It allows managing the sharing of data to different entities and organizations through an application on the mobile device, called identity wallet. In addition, the user will be able to decide who they share their data with at any time quickly, easily and safely, for example , to hire any service without having to fill out tedious forms.
Blockchain project Spain
The technological proposal that has passed the Financial Sandbox tests guarantees the integrity and quality of the data, avoiding duplication and errors, while protecting the privacy of users by not storing personal data outside the mobile device. The project has in its roadmap always maintain alignment with the European identity project, European Self-Sovereign Identity Framework (ESSIF), which is currently in evolution. In this way, it will be able to interoperate with any initiative compatible with the same standards (Verifiable Credentials, W3C ), making it easier for citizens to manage a single self-managed identity enriched with data from different systems.