Bloomberg Law
Sept. 11, 2020, 11:01 AMUpdated: Sept. 11, 2020, 6:52 PM

Push for Digital ID Tech Development Spurred On by Pandemic (1)

Lydia Beyoud
Lydia Beyoud
Fintech & Regtech Reporter

Technology and financial companies, including JPMorgan Chase & Co., Mastercard Inc., and Microsoft Corp., are pushing to accelerate digital identification systems, hoping to eradicate massive data breaches and overreliance on Social Security numbers.

The Better Identity Coalition, a coalition of the companies advocating for the technology, has nudged policymakers and floated possible measures for government action for months.

A new House bill, introduced Friday, would encourage development by creating an interagency task force, technology standards, and grants. Colorado also is leading the way, unveiling a state-authenticated, digital driver’s license stored in a mobile app.

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