The ID2020 Alliance already has an impressive roster, ranging from global companies and research firms to legal services and even non-profit organizations. These organizations are known for their respective fields and have a huge influence. Despite being in different industries, all of the members have the same goal: to close the identity gap through the integration of digital identities.
But, being a powerhouse alliance does not mean membership applications are finished. Actually, a new member was announced a few weeks ago, and it is none other than the payments firm Mastercard.
When it comes to payments, Mastercard is always there. So it is no wonder that the American multinational financial services corporation will also dabble into plans of a decentralized, universal digital ID. Mastercard announced in 2018 of its project, which was in collaboration with Microsoft, a company that is also part of the ID2020 Alliance, is all about an international digital identity scheme that allows users to have control over their identity information. The initiative can help provide a solution to common problems on identity inclusion, identity verification, and fraud.
“We must work together to establish consistency and common standards across the globe that can make this a reality, addressing real challenges faced by people every day and sparking continued innovation,” said Ajay Bhalla, president, Cyber & Intelligence, Mastercard via Ledger Insights.
As for the ID2020 Alliance, it is all about establishing a platform wherein everybody has access to vital social services and is allowed to exercise their rights as citizens and voters. The collaborative effort between the organizations part of the ID2020 Alliance is to protect civil liberties and give control to who owns the data — none other than the people themselves.
All thanks to technology, new platforms have opened up, providing better services and convenience for users. Thanks to this, users now have a platform, which is backed up by blockchain, to access their information securely and have control over it.
