March 28, 2022
On a worldwide basis, Canada is on the leading edge of digitizing identification and currency. Several provinces, including Ontario, Saskatchewan and New Brunswick, are planning on launching digital IDs by the end of 2022. The federal government is now partnering with organizations and lobbyist groups to investigate the usefulness of a nationwide Digital ID.
In a statement issued in March, 2022, the Canadian Bankers Association(CBA) advocated for the creation of a federated digital identity scheme in Canada. Neil Parmenter, CEO of Canadian Bankers Association, says plastic cards are old technology and should be replaced with a new biometric digital ID system.
“The organization is trying to answer the call of the World Economic Forum (WEF), which has previously argued that banks and financial institutions should spearhead digital identity efforts.”
After an increasing number of Canadians and businesses moved online throughout the COVID-19 pandemic, “three-quarters of the population feel it’s important to have a secure and privacy-enhancing digital ID to safely make transactions online.”
We take a closer look at these developments. While Digital ID is certain to arrive within mainstream society, media have not revealed this reality. Based on those involved– CBA, WEF and the Liberal government, Digital ID implementation in Canada is inevitable.
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