Providing and using a digital identity involves a number of interdependent actors who collectively form a digital identity ecosystem. Confronted with increasing complexity due to growing transaction volumes and increasing customer expectations, any successful digital identity ecosystem requires a collaborative effort across organisations and industries. Also, digital identity systems can come in many different forms.
Digital identity is expected to unlock around 4% of the world’s GDP by 2030, in excess of USD 5,000 billion. Both highly developed countries such as European Union countries, and emerging countries, have to gain from the emergence of a strong digital identity ecosystem.
We can roughly split country maturity when it comes to digital identity into four different stages, with each subsequent stage multiplying the benefits obtained in the previous stages:
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