LuxTrust S.A., a leading European Trust Services Provider, and Cambridge Blockchain LLC, the Massachusetts-based pioneer in digital identity enterprise software,have announced the development of a new privacy-protecting European identity platform. The platform will offer businesses and consumers a trusted environment to exchange and manage personal data online, in full compliance with strict data privacy rules such as the European General Data Protection Regulation (GDPR). Applications will cover rapid onboarding and know-your-customer checks for financial service providers, as well as a broad range of personal data sources such as health records and Internet of Things devices.
As a Qualified Trust Services Provider (QTSP), LuxTrust provides digital identities federated throughout multiple financial and governmental applications, enabling secure and compliant authentication and electronic signing. LuxTrust today manages digital identities for the entire population and business ecosystem in Luxembourg, and is expanding internationally.
“LuxTrust is committed to providing better identities for people and things,” said Pascal Rogiest, CEO of LuxTrust. “Working with Cambridge Blockchain allows us to augment the scope of identities, including any attributes, and will enable users to share personal data fully respecting the increasingly stringent European regulatory framework. We are very excited to innovate together, filling gaps in compliance, security and trust needed to accelerate digital, personalized and automated services across Europe and worldwide.”
The platform will instill state-of-the-art “privacy by design” principles outlined in the GDPR to provide quick onboarding, attribute, consent management and compliance services for natural persons, legal entities and devices with full transparency and auditability of transactions. Data and privacy policies are established through a single comprehensive system, accessible via user-friendly mobile and web applications.
“Luxembourg is the ideal place to launch this platform,” remarked Matthew Commons, CEO of Cambridge Blockchain. “By combining LuxTrust’s current certified services such as authentication, signature and document management with our innovative blockchain-based enterprise software, our collaboration will deliver the future of digital identity for Europe and beyond.”
The announcement was made at the K(NO)W Identity Conference in Washington, DC.
“This partnership is a prime example of the transformation taking place across the identity industry, with established players like LuxTrust embracing the core innovation of RegTech startups such as Cambridge Blockchain,” said Travis Jarae, One World Identity CEO and host of the conference.