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Photo: Shutterstock.com / Monster Ztudio

Why Your Digital Identity is Not-So-Digital

– Shufti Pro

In this viewpoint and analysis, CEO of Shufti Pro, Victor Fredung, argues why decentralized, distributed ledgers are the future of digital data

Fredung explains how we’ve arrived at our current level of digital inclusivity in the financial sector, especially with online banking, e-commerce and specialized financial technology (fintech) solutions:

"Social inclusion, powered exclusively by digital engagements, is one of the most celebrated aspects of virtual identity so far. In my view, it is second only to the digitization of the banking sector. Without a digital presence, most people would never have the chance to access essential services or find a voice."

He continues to explain that at the current level of inclusivity, we’re conditioned to want more data for financial analysis.

Fredung believes that more data should become better verified data - through the use of decentralized ledger technologies like blockchain.

Applying blockchain to identity is based on the premise that a decentralized and portable digital identity is key to data privacy in the long run

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