SINGAPORE, Sept. 18, 2018 /PRNewswire/ -- Singapore-based Jupiter Chain and Deloitte announced today a strategic collaboration to implement in Southeast Asia an innovative data exchange which provides consumers with a fully transparent avenue for monetising their data by connecting with businesses on the blockchain. The partnership will leverage the strength of Jupiter Chain's blockchain solutions along with the breadth and depth of Deloitte's technology and regulatory risk management services designed to improve business capabilities in the areas of technology, risk, governance, compliance and regulation. This style of exchange is seen as the next wave of data mining, in the wake of recent scandals involving unauthorised use of data and stricter regulations around the ownership and portability of data.
Set to change the way data is handled, shared and monetised, the data exchange platform developed by Jupiter Chain will allow exchanges to happen securely, protecting the privacy of the individual's personal information. Data owners will have greater control over their data, gain better access to tailored services and be rewarded directly for their data contributions.
In turn, Deloitte will advise on relevant regulations such as data laws and potential GDPR considerations for the data exchange model envisioned by Jupiter Chain, and on the technical front, Deloitte will review Jupiter Chain's blockchain architecture, design and processes.
This relationship also has a research and technical collaboration component that will see Deloitte become one of the validating nodes on Jupiter Chain's network; the first of its kind between Deloitte in Southeast Asia and a blockchain company.
"We look forward to work with a globally renowned and respected brand such as Deloitte to elevate our platform solution. I strongly believe that this strategic relationship will fuel the development of not only Jupiter Chain but the adoption of blockchain technology on a wider scale," said Miss Daphne Ng, CEO of Jupiter Chain.
"Deloitte is at the forefront of technological innovation for business growth and we view blockchain as an important enabler with potential to exponentially change the way markets operate," said Mr. Eden Spivakovsky, Deloitte Singapore Risk Advisory Director, who leads this relationship for Deloitte in Southeast Asia.
He added, "We are excited to team with Jupiter Chain and together build blockchain capabilities and deliver quality solutions to clients in Southeast Asia. Our combined expertise will allow us to drive innovation through the use of blockchain technologies and solve complex business problems for companies in the region."
About Jupiter Chain
Conceived by JEDTrade, the Jupiter Chain project is a Smart Consentable Data Exchange platform that aims to create a privacy preserving federated blockchain which enables the use of analytics. Data owners control their data and provide access to receive tailored services. For more information on the project, please visit jupiterchain.tech.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. Please see www.deloitte.com/about to learn more about our global network of member firms.
All services are provided through the individual country practices, their subsidiaries and affiliates which are separate and independent legal entities.
© 2018 Deloitte & Touche Enterprise Risk Services Pte Ltd