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13 - Digital Identity

from Part III - Building Better Financial Systems

Published online by Cambridge University Press:  09 November 2023

Ross P. Buckley ,
Douglas W. Arner  and
Dirk A. Zetzsche
Ross P. Buckley
Affiliation:
University of New South Wales, Sydney
Douglas W. Arner
Affiliation:
The University of Hong Kong
Dirk A. Zetzsche
Affiliation:
Université du Luxembourg
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Summary

This chapter considers the various requirements for identification in the financial sector and the evolution in the nature of identity from analogue to digitised to digital. We argue that technology presents an opportunity to solve this challenge through the development of digital identity infrastructure and related utilities. The establishment of such utilities for digital or electronic identification requires addressing design questions such as registration methods, data availability, and cross-jurisdictional recognitions. As with any reform, a balance needs to be reached to ensure the objectives of efficiency and financial inclusion are not achieved at the cost of market integrity and financial stability.

Keywords

Digital identityinfrastructureKYC
Type
Chapter
Information
FinTech
Finance, Technology and Regulation
 , pp. 194 - 214
Publisher: Cambridge University Press
Print publication year: 2023

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