GAIN launches paper pushing for a global lead in digital identity

AC

Andra Constantinovici

17 Sep 2021 / 5 Min Read

This paper has been compiled by more than 150 experts in the field of digital identity and financial institutions. The paper invites organisations to contribute to the further development of the Proof of Concept and calls on financial institutions to grasp the opportunity to take the lead.

According to the paper, a global assured identity network will offer an alternative to the centralised data exchange (Big Tech) approach that poses serious challenge to privacy, our economy, and to our democratic values. Decentralising the digital economy represents a major opportunity for financial institutions to leverage their position of trust and lead this global assured identity network.

By building a user-controlled, collaborative, decentralised and interoperable global network – as has been accomplished in payments and securities – financial institutions will offer high-trust identity assurance within a safe and properly regulated environment as a major step towards Digital Trust.

The GAIN group invites organisations to collaborate: the leaders of financial institutions, identity providers and relying parties to jointly progress the GAIN architecture, governance and legal structure in order to deliver a first functioning network by Q4 2022.
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AC

Andra Constantinovici

17 Sep 2021 / 5 Min Read

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