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Digital Identity: Unlock Digital Services and Trust Digital Life

– PricewaterhouseCoopers (PwC)

  • Report
  • Posted by Good ID team (Good ID)
  • 15 October 2021

How the need for digital identities in our online world must be met with regulation and security

This article from PwC Luxembourg explores how digital IDs are essential for our technologically advancing society, including how they can benefit both highly developed and emerging countries in numerous ways, such as through providing a legal identity and improving efficiency of public services.

“Digital identity is expected to unlock around 4% of the world’s GDP by 2030, in excess of USD 5,000 billion.”

Existing digital IDs are unregulated, which poses security and privacy risks. This report examines different modules for digital IDs and advocated for a user-controlled, decentralized system.

The privacy, reputational, cybersecurity risks attached with the status quo of storing digital identities in a centralized way are far too great to ignore

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