United Nations Proposes Digital ID System Tied to Bank Accounts and Mobile Payment Platforms


The United Nations is proposing a universal digital ID system that would directly connect to people’s bank accounts and payment apps.

A comprehensive new policy agenda from UN Secretary General António Guterres details an identification network designed to digitize and streamline the process of verifying people’s identities on a global scale.

CryptoCaster Quick Check:

The proposal is outlined in a section dedicated to “global digital cooperation and sustainable development goals.”

“Digital IDs linked with bank or mobile money accounts can improve the delivery of social protection coverage and serve to better reach eligible beneficiaries.

Digital technologies may help to reduce leakage, errors and costs in the design of social protection programmes.”

Stay in the know on crypto by frequently visiting Crypto News Today

The proposal follows a move by the World Economic Forum to explore systems that would track and verify human identities using biometrics.

The Forum has teamed up with the Swedish biometrics company Fingerprint Cards, and is exploring blockchain-based digital ID platforms that “put privacy at the top of all major priorities.”

The UN notes that despite the rapid advance of technology around the world, more work is needed to provide equal access to the digital revolution and to reverse ever-growing gaps in wealth distribution.

“Digital technology has led to massive gains in productivity and value, but these benefits are not resulting in shared prosperity.

The wealth of those in the top 1% is growing exponentially: between 1995 and 2021, they accounted for 38% of the increase in global wealth, while the bottom 50% accounted for only 2%.

Digital technologies are accelerating the concentration of economic power in an ever smaller group of elites and companies. The combined wealth of technology billionaires, $2.1 trillion in 2022, is greater than the annual gross domestic product of more than half of the Group of 20 economies.”CRYPTOCASTER® - DECENTRALIZED FREEDOM!
Read More at DAILYHODL

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt

You may also like