“a Global Assured Identity Network”
(Website Gainforum).
Gain is an initiative to make banks work together as providers of digital identity. It would be a good development. In this way, banks can eventually get something back from their costs regarding all the KYC hassle. Only by working together, and not just at a national level, is there a chance of success. This is a positive development for also the consumer and the organizations which use digital identity providers to become more independent from Big Tech.
Whatever happens, Big Tech is expected to keep a big finger on the pulse of digital identity and continues to collect data from users. End-users will use the Big Tech systems on a daily basis for various reasons and only periodically do an assessment via, for example, the banking digital identity tool. It will be difficult to counter this form of tokenization.
Read the publication on the website of GAIN digital trust
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