‘Digital identities’ could protect customer data – Carstens
BIS chief praises “impressive gains” made by Singapore and India in regulating data
Financial regulators could create “digital identities” for consumers to give them much greater control over their data and allow them to give “informed consent”, Agustín Carstens said today (November 14).
Regulatory authorities needed to do more to face up to the “complex trade-offs” around stability, efficiency and privacy when it comes to financial data, the Bank for International Settlements general manager said.
Creating a “digital identity” for each consumer could ensure data is used
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