December 6, 2018

The Economic Impact of Digital Identity

More than 1.1 billion people in the world are unable to prove their identity and therefore lack access to vital services including healthcare, social protection, education, and a wide array of financial services. Among these ”invisible” people — primarily living in Africa and Asia — more than one-third are children susceptible to violence, whose births have not been registered. The inability to prove identity has far more severe implications than just not having access to the formal financial system. Exclusion from property ownership, free movement, and social protection caused by the inability to prove own identity fades in the face of physical dangers “invisible” people around the world find themselves in. Moreover, given that around 870 million people around the world live in extreme poverty and still do not have access to any social assistance program, digital IDs have a chance to help those people to lift their families from…

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