Identity is the New Money. No, Wait... Infrastructure
Digital identity is a new, and crucial, form of financial market infrastructure (FMI).
Dateline: New York, 20th July 2023.
I hope that this is really the year when digital identities start to become mainstream because while there undoubtedly has been a change of attitude from digital identity as a “nice to have” to digital identity as a fundamental enabler, we still do not have mass-market solutions in place and this is a drag on the economy.
With announcements from Apple and Plaid, however, it seems that some of the components might be coming together in the U.S. right now. Perhaps there is a seismic shift coming: If not an ID revolution across society, then at least an ID earthquake that will change the financial services landscape for the better.