BBVA joins Dalion, the consortium that operates self-governing digital identity with blockchain

by Arthur · February 9, 2023

Communication Communication

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 gives each person full control over their data.

Dalion aims to increase the use of self-governing digital identity Thanks to blockchain technology. The purpose of the tool is to help citizens manage their data through an application on the mobile device (identity wallet) and perform any procedure or administration in just a few minutes. Dalion is also open to collaboration with other projects, such as Bizum, to give the user a much more complete experience.

“BBVA believes that digital identity will be a central element in all types of companies’ digital relationships 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 payment discipline at BBVA in Spain. “In this context, Dalion and its current partners offer a framework of guarantees to be able to handle this type of initiative.”

Dalion was the first pilot to finish Financial sandbox, the space promoted by the Spanish government that has allowed experimentation with the tool in a test environment controlled by the regulatory authorities. Following the incorporation of BBVA as a new partner, Dalion continues to move forward towards its market launch to offer this new digital service to citizens.

With Dalion, users will be able to decide with whom they will share their data at any time in a fast, easy and secure way, for example to contract any service without having to fill in boring forms. The user will be able to use the data validated by other entities to rent a car, take out insurance, request a loan, sign up for electricity or gas service, or any service the user wants, all with 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 multi-sector project where companies from various fields such as tourism, telecommunications, distribution or energy will be able to be part of the change towards a new digital futureand guarantees the integrity, security and quality of every user’s data for years to come.

Carlos Pastor Matutdirector of Blockchain Strategy at Inetum in Spain, confirms that “having BBVA as a participant means adding financial and technological expertise to the project”, and believes that its entry “is another step forward in Dalion’s progress towards building a single self-managed digital identity capable of guarantees users’ privacy.”