Guest post by Leo Hohmann
The nation of Ethiopia has announced it will make the transition to mandatory digital IDs for all citizens, with the chief enforcement tool being the major banks. Using a World Bank-supported digital ID system with standards also approved by an eight-nation working group within the United Nations, all citizens of Ethiopia will need to have a digital ID in order to use banking services in the country by 2025.
This is just the latest evidence that banks are driving the digital identity agenda. We’ll break it all down in this article and show why digital identity must precede digital money in the reset to a completely digital global economy.
Biometric Update reported, “Ethiopia is implementing a World Bank-supported MOSIP-based digital ID project which intends to have all eligible citizens enrolled by 2025. The country also recently contracted IrisGuard to support benefits payments to citizens with iris biometrics.
