Blockchain Firm Says Banks Need DLT to Manage Identities Better
cointelegraph.com
HashCash aims to streamline the process by helping the partner bank create digital identities for the customers over a decentralized network, where the customer data will be recorded on an immutable ledger, eliminating any chance of identity theft and forgery.” Per the announcement, a United Arab Emirates bank will use the blockchain-based digital identity system offered by HashCash.
HashCash's CEO Raj Chowdhury said, "Accurate identification of an individual is central to banking activities which makes them the chief arbiter of people’s identities. Chowdhury claims that HashCash’s digital identity system helps banks in creating digital identities for customers on a decentralized network, which prevents theft and forgery of credentials.
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