EUDI Wallet is essential for the financial industry, according to Visa executive's Money20/20 statement.
revamping the UK's digital identity and wallet: Labour's BritCard vision
Get ready to embrace a game-changer in the digital landscape of the UK, as Labour's think-tank, Labour Together, has put forth an enticing proposal, named BritCard. This radical initiative intends to provide a mandatory, universal digital identity credential for every adult residing in the UK. Here's what you can expect from BritCard:
The lowdown on BritCard
- Objective: The primary aim is to tighten the UK's border security by simplifying right-to-rent and right-to-work checks through a digitized platform[1][3][5].
- Infrastructure: The BritCard will be developed using an amalgamation of current systems like One Login and Gov.UK Wallet, which will be rebranded as part of this ambitious project[1][2].
Perks and advantages
- Efficient Access to Government Services: With the BritCard, citizens can easily link to their respective government records, streamlining their journey to access a host of government services[1].
- Integration of Existing Systems: Over time, BritCard possesses the potential to merge various existing ID systems such as national insurance numbers, driving licenses, and even serve as a gateway to the National Health Service (NHS)[1].
- Affordable Investment: The additional cost associated with implementing BritCard is projected to be within the range of £140-400 million, a figure considered reasonably minor compared to other hefty infrastructure projects[1][5].
Implementation and Utilization
- Digital Interface: The BritCard will present itself as a smartphone app, enabling users to authenticate their identity digitally[2][5].
- Free for All: The digital ID will be issued absolutely free of charge to every eligible citizen[2].
This new-age approach by Labour aims to shift the focus from past arguments advocating centralized ID systems, zeroing in on border security and enhancing public service efficiency[3].
With the BritCard initiative, the integration of finance, banking, and insurance sector can be streamlined through digital ID credential, benefiting from the efficient access to government services [1]. Additionally, fintech industry may leverage the universal digital identity platform for various authentication and authorization purposes, potentially revolutionizing the way services are delivered [5].
