Preserving Privacy In
The Medical Industry
CASE STUDY Preserving Privacy In The Medical Industry September 2022 – Present The Business Challenge Data privacy, security, and collaboration continues to
CASE STUDY
Decentralized Consent
Management with BMO
July 2021 – July 2022
The Business Challenge
With today’s shift to digital services and the rising importance of data privacy, financial institutions are seeing increased pressure to protect client data to avoid leaks and potential breaches. That’s why we worked with Bank of Montreal (BMO) on a Proof-of-Concept (PoC) to test how SoLID can potentially be used to manage user consent.
The Solution: Creating Consent
Kelvin Zero was engaged with BMO with the goal of exploring the capabilities of SoLID to manage customer consent across a blockchain network. The objective of the consent tracking prototype was to link “consent transactions” to requests and securely track, trace, confirm, and revoke consent in real time. The project was ultimately delivered ahead of the forecasted schedule of 12 months, in 8 months – posting a valid SoLID transaction on a bitcoin test-net with private and public keys stored in an offline HSM (Hardware Security Module). Although more development is required before the solution is implementation ready, the exercise demonstrated that our unique, decentralized solution has the potential to be used in real time to solve real banking use cases.
System Features
Logging
Tacked multi-party consent authorization and revocation.
Traceability
Consent and client data tracing across authorized applications.
Auditability
Integrated auditing with data integrity at every step.
Revocation
Specific or complete revocation of data across bank and third-party services.
System Benefits
Enhanced privacy
- Scalable client consent authentication and revocation distribution
- Integrated data request and access tracking
- Adherence to consumer privacy provisions
Increased efficiency
- Connected client-data distribution across applications and processes
- Reduced infrastructure stress
Resource Optimization
- Reduced database and computing load
- Streamlined infrastructure reducing architectural complexity
- Automated real-time client consent and data access traceability
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