Mastercard joins ID2020 Alliance
Mastercard has joined the ID2020 Alliance to further the organizations’ collaborative efforts on user-managed, privacy-protected and portable digital identity solutions.
Mastercard announced that it will join the ID2020 Alliance, a global multi-stakeholder partnership dedicated to enabling everyone to have access to a viable and trusted form of legal identity.
Mastercard, Microsoft and Hyperledger have joined the ID2020 Alliance, which aims to implement the UN’s digital identity program by using blockchain technology.
This was announced at the World Economic Forum in Davos. The ID2020 Alliance has also been joined by the humanitarian organization Mercy Corps and the UN International Computing Center, which will help improve the quality of life for many people by providing them with digital identity cards.
According to the press release, the group is developing solutions with a focus on the direct ownership and control of people’s personal data based on blockchain technology. The initiative has been helped by the fact that 1 billion people around the world are confronted with the fact that they cannot prove their identity, which prevents them from leading normal lives. According to the World Bank, this situation also reinforces more serious problems, such as human trafficking.
Ajay Bhalla, president Cyber & Intelligence, Mastercard:
“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.”
Blockchain has another amazing use case — you can earn money with it! Join our Bitcoin cloud mining platform Hashmart.io to get daily payments in BTC for your own investment plan.