- The WEF and digital identity systems
- What are digital identity systems as opposed to physical identity systems?
- What is the benefit of digital identity from the perspective of financial institutions? What benefits and additional capabilities would accrue to financial institutions, regulators and governments from the implementation of digital identity systems?
- Which specific areas of financial services are likely to benefit from digital identity systems and how?
- What are the existing digital identity systems and how does the report envisage that they can be improved/developed?
- Why is the need for the development of digital identity systems becoming urgent?
- Why does the WEF believe that financial institutions should lead the development of digital identity systems?
- What role could ‘blockchain’ technology play in digital identity systems?
- What could be the relevance of digital identity systems beyond financial services?
Financial Services analysis: Simon Deane-Johns, consultant solicitor and online financial services expert at Keystone Law, explains the necessity of digital identity systems in today’s tech-centric society, but suggests that the recent World Economic Forum (WEF) report is mistaken in thinking that the major financial institutions will be the ones to fully develop the systems needed.
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