BBVA joins Banca March, Banco Santander, CaixaBank, Generali, Inetum, Línea Directa Aseguradora, MAPFRE, Repsol, Unicaja Banco and Universidad Politécnica de Madrid, the entities that launched Dalion in 2020. The project works on an innovative digital identity management model based on blockchain, which allows each person full control of their data.
Dalion aims to boost the use of self-managed digital identity thanks to blockchain technology. The purpose of the tool is to help citizens manage their data through an application on their mobile device (identity wallet) and carry out any procedure or management in just a few minutes. Dalion is also open to collaboration with other projects, such as Bizum, to provide the user with a much more complete experience.
“BBVA believes that digital identity will be a key element in the digital relationship of all kinds of companies with their customers, and the banking sector can play a key role in offering innovative services around digital identity,” explains Antonio Macías Vecino, Head of Payments Discipline at BBVA in Spain. “In this context, Dalion and its current partners offer a framework of guarantees to be able to address this type of initiatives.”
Dalion was the first pilot to successfully complete the Financial Sandbox, the space promoted by the Spanish Government that has allowed experimenting with the tool in a test environment controlled by the supervisory authorities. After the incorporation of BBVA as a new partner, Dalion continues to advance towards its market launch to offer this new digital service to citizens.
With Dalion, users will be able to decide with whom to share their data at any time in a fast, simple and secure way, for example, to contract any service without having to fill out tedious forms. The user will be able to use the data validated by other entities to rent a car, take out insurance, ask for a loan, sign up for electricity or gas service, or any service the user wants, all in just a few clicks, once one of the Dalion participants has officially validated them in the system.
With BBVA’s incorporation, Dalion continues its path as an open and multisectorial project where companies from different fields such as tourism, telecommunications, distribution or energy will be able to be part of the change towards a new digital future, and guarantee the integrity, security and quality of any user's data in the coming years.
Carlos Pastor Matut, director of Blockchain Strategy at Inetum in Spain, affirms that “having BBVA as a participant means adding financial and technological expertise to the project,” and considers that its entry “is another step forward in Dalion's progress towards the construction of a single self-managed digital identity capable of guaranteeing users’ data privacy.”