We have developed Smart Credentials, a blockchain platform for secure digital certificates, with the Institute of Chartered Accountants Scotland.
As one of our Essential Eight technologies, blockchain is changing the way we deliver solutions for our clients. One example of this is Smart Credentials, a new way of storing credentials digitally, with reduced exposure to fraud.
In a world turning paperless, Smart Credentials is an innovative technology which allows qualifications to follow the likes of bank statements and household bills by replacing paper-based certificates with secure digital versions.
Smart Credentials uses blockchain technology to give the owner complete control of their data, while also simplifying the process for regulators or institutions who issue credentials, as well as the reviewers who need to check them.
The platform was launched in February 2019 in a groundbreaking trial with the Institute of Chartered Accountants Scotland (ICAS), which saw more than 50 newly qualified chartered accountants sign up.
With data protection being one of the most important technological challenges businesses face today, the Smart Credentials trial allowed our newly qualified staff to take complete control of their data.
With businesses spending significant amounts of time and money contacting universities and institutions to verify qualifications listed on the CVs of prospective employees, this new blockchain platform offers reduced risk and costs.
“Data protection is of utmost importance to ICAS and we very much value our involvement in PwC’s pilot of the new Smart Credentials platform.”
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Corporate Affairs, PwC United Kingdom