Authentication & Security

The Economic Impact of Digital Identity

MEDICIGlobal Head of Content

More than 1.1 billion people in the world are unable to prove their identity and therefore lack access to vital services including healthcare, social protection, education, and a wide array of financial services. Among these ”invisible” people — primarily living in Africa and Asia — more than one-third are children susceptible to violence, whose births have not been registered.

The inability to prove identity has far more severe implications than just not having access to the formal financial system. Exclusion from property ownership, free movement, and social protection caused by the inability to prove own identity fades in the face of physical dangers “invisible” people around the world find themselves in.

Moreover, given that around 870 million people around the world live in extreme poverty and still do not have access to any social assistance program, digital IDs have a chance to help those people to lift their families from extreme poverty by accessing governmental social security net programs. Those individuals are more exposed to corruption and crime, including people trafficking and slavery.

One’s identity — being foundational to political, economic, and social opportunity — today is a complex construct, touching every aspect of life...

Elena Mesropyan

MEDICIGlobal Head of Content

Elena is a research professional with a background in social sciences and extensive experience in consumer behavior studies and marketing analytics. She is passionate about technologies enabling financial inclusion for underprivileged and vulnerable groups of the population around the world. Elena has been recognized as one of the Top 100 Women in FinTech 2018. Prior, she has been ranked in the Women in FinTech Powerlist 2017.