Medium: Homo Databundus: Correcting the Market for Identity Data
Digital identity usage is essential in modern society because it gives real
time access to resources, create ease of use of online services and greater
efficiency gains for both individuals and firms.
The economic value of digital identity is substantial. The McKinsey
reportissued in April 2019 highlighted the potential economic value of good
digital IDs for individuals and organisations, as well as the potential risks
and challenges. The report found that the economic value potential for digital
ID in emerging economies is the equivalent of 6 percent of GDP by 2030 and for
mature economies, 3 percent of GDP by 2030. Yet, The World Bank estimates
1.8bn people on the planet have no legal form of identity, resulting in their
exclusion from social, economic and democratic activities. Without identity,
individuals are more likely to be exploited, trafficked or confined to a life
of servitude.
Read more at https://medium.com/hub-of-all-things/homo-datumicus-correcting-
the-market-for-identity-data-782758d35212
Last updated: 4 years ago
