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ChatGTP quite good at shortening my earlier post

  1. Governments and enterprises will adopt a global trust infrastructure, resulting in citizens and organizations receiving general-purpose identity wallets that can obtain, deliver, and pass on verified data for a wide range of life events based on principles. The architecture is outlined in, and the trust layer in the architecture makes wallets used for sending and receiving data interoperable by design.

  2. Banks have been interconnecting customers with trust services since ancient times, and the most used bank services are payments.

  3. E-banking has enabled new ways to interconnect customers since the 90s, including allowing customers to use their e-banking credentials to log in to non-bank services and strong identification of senders and receivers of e-invoices.

  4. The trust infrastructure will mean that many organizations and governments will issue general-purpose and interoperable-by-design fact wallets to obtain needed data under the control of data rights holders.

  5. Article 20 in GDPR makes it mandatory for enterprises to deliver personal data when asked for it, and mandatory e-orders, e-invoices, and e-receipts should be standardized and verified for all organizations with accounting obligations.

  6. A large number of data sets are needed in citizen’s life events in private and employee roles, and the demand for verified data will grow fast as citizens understand their legal right to their data.

  7. Banks should move to life event-based service design, provide customers with the wallets they need, locate data sources, and organize wallets for data importing to customers’ wallets. Banks should also locate other data service providers, enterprises, and public sector entities that need data from the bank.



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Bo Harald

Bo Harald

Chairman/Founding member, board member

Transmeri, Demos, Real Time Economy Program,MyData

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Helsinki Region

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This post is from a series of posts in the group:

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

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