Iris scans will be used.
QUICK FACTS:
- The government of India is to utilize digital ID tools to confirm individual banking transactions for citizens exceeding 2 million rupees annually in both withdrawals and deposits.
- Two million rupees is roughly equivalent to $24,494.04.
- The call for digital ID is meant to protect account holders against tax evasion and fraud, although the system has drawn criticism due to privacy concerns.
- It is estimated that about 99% of India’s adults are involved in the Aadhaar program, a digital ID assigning individuals with a unique 12-digit number corresponding with their biometric identity.
GLOBAL DIGITAL ID PUSH:
- The United Kingdom introduced draft legislation for “identity verification” in order to simplify the use of digital public services.
- Sweden launched an inquiry into how the “state can issue an e-identification at the highest level of trust” to encourage citizens to use digital IDs.
- The European Union (EU) established the NOBID Consortium (Nordic-Baltic eID Project) to develop a digital wallet. The countries involved in the consortium include Denmark, Latvia, Iceland, Germany, and Norway.
BACKGROUND:
- American Faith reported that Bill Gates gave $200 million toward a global digital ID system.
- The World Economic Forum (WEF) has also partnered with Canada to create the “Known Traveler Digital Identity Project.”
