Deloitte and RIDDLE&CODE expand partnership to enable the Token Economy
Dr. Dirk Siegel, Partner at Deloitte and leading the firm’s Blockchain Institute, said:
“Together we have created some exciting projects, a recent one connects high-value products of a top global brand to the blockchain to prove providence and enable disruptive new use cases that can revolutionise customer relations.”
The partnership is built on a shared vision of the central importance of machine identity and Distributed Ledger Technology (DLT) and will provide hardware-based solutions alongside a strategic understanding and multi-disciplinary capability needed to build and launch tomorrow’s industry-grade infrastructure.
Alexander Koppel, RIDDLE&CODE CEO said:
“Industrial processes become more efficient, and new opportunities arise as machines gain a secure identity to become trusted data sources. The tokenization of industrial assets creates business opportunities for the issuance of a new class of digital financial instruments, using specialized FinTech modules operating on Distributed Ledger Technology.”
The partnership has already been successful in educating audiences and clients about DLT and digital underwriting. A joint report on digital twins (available here) highlights the potential and real-world examples of the machine-driven economy, and we will soon release a new report on machine identity with a focus on vehicle wallets and their impact on future mobility scenarios.
Anthony Day, COO of Deloitte’s EMEA Blockchain Lab, said:
“Digital twins and asset tokenisation, underpinned by Blockchain infrastructure is already transforming what is forecast to be a trillion-dollar industry and it is important to prepare for these massive shifts. We’re excited to be sharing some of our projects with RIDDLE&CODE with the Blockchain community at Consensus in New York, and helping our clients gain a greater understanding of the importance and potential of digital twins in the rapidly changing digital economy”.
“Deloitte ensures processes are in line with current regulation and anticipate their evolution. We build blockchain technology that is future-proof. Our partnership leads to solutions that are accepted by regulators so that any IoT project can benefit from a faster TTM”.
The two companies have collaborated across a number of geographies across the globe (Ireland, Germany, Austria, UK, USA, Scandinavia), consistently pushing the message that valuable assets can benefit from being registered on blockchains that offer the same or even heightened guarantees of immutability as, say, land registries.
The customer project that will be shown in Deloitte’s demo area at Consensus 2019 illustrates how digital identities for valuable goods can leverage energy harvesting to preserve authenticity, enable digital customer service and enhance product value.