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Audit and consulting giant Deloitte is collaborating with Singapore-based blockchain startup Jupiter Chain to implement an innovative data exchange in Southeast Asia.
The data exchange aims to transform the way data is handled, shared and monetized. It will provide consumers with a fully transparent avenue for monetising their data by connecting with businesses on the blockchain.
Jupiter Chain will bring its blockchain expertise to the project, while Deloitte will contribute its technology and regulatory risk management services designed to improve business capabilities in the areas of technology, risk, governance, compliance and regulation. Deloitte will advise on relevant regulations such as data laws and potential GDPR considerations for the data exchange model, as well as 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.
"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 Eden Spivakovsky, Deloitte Singapore Risk Advisory Director. "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."
According to the official release, the data exchange model envisioned by Jupiter Chain is seen as “the next wave of data mining.”Data owners will have greater control over their data, gain better access to tailored services and be rewarded directly for their data contributions.
"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.
