Experts discuss on blockchain Digital ID: The pros and cons in 2020

McKinsey focuses on exploring the impact of Digital ID on benefits in the banking and financial industries

  • Organizations can abuse the hype and ignorance of blockchain in the early stages to create unworkable projects, which are only fundraising without planning for the actual value.
  • Risk related to human errors: Human errors can still happen to Digital ID on blockchain due to the new digital interface and lack of compliance rules when designing systems.

BiometricUpdate shows their support for the revolution of Digital ID

BDO recommends a risk-based approach with Digital ID

  • The understanding of the level (s) of the Digital ID system assurance, especially regarding the authentication and identity verification process.
  • Ensure that the assurance level (s) is consistent with the ML/TF risks related to the customer, product, jurisdiction, geographic scope, and test tubes.

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The Permissioned Business Blockchain for Enterprises

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