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A company or a person you know, or his AI-agent approaches you with a payment request to an account that looks familiar. Or a card payment. Or asking your account number for a refund..
Would you like to verify that it is the on you think you know before you accept it? And in the case of the AI-agent that it is wallet-carrying and thus can prove that it is his agent and that the payment request is real and to a verifiable account.
Would you like this verification process to be automated? And extend it to all sorts of incoming credentials. Of course you know that you have to see to it that the AI-agent you employ and empower must have the wallet to be able to act on your behalf - for example by sending IBAN-credentials, e-invoice addresses, to your counterparts - in addition to your organisational ID-credential and power-to-act credentials for your staff and the AI-agent.
Would you like to restrict incoming e-mails and all sorts of messages to those where the sender can be automatically verified?
If your answer is yes, join the EU-mission to get all member states to get organisation wallets in use and thus also get all enterprises to do the same. One way of speeding up the migration is to charge costs visibly for old-fashioned expensive practises.
Or – as the benefits for society at large and all involved are so massive - just ban the risky ones. Like some 70 countries and progressive enterprises have done with incoming paper or PDF-invoices.
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Anusha Sivaramakrishnan Consulting Partner at TCS
17 July
Viacheslav Kostin CEO at WislaCode Solutions
14 July
Alex Kreger Founder and CEO at UXDA Financial UX Design
Milko Filipov Senior Manager at valantic
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