Accenture and Microsoft plan digital IDs for millions of refugees

  • Image copyright
    Reuters

    Image caption

    Accenture and Microsoft are working with ID2020 to build a digital ID network that refugees can access from anywhere

    Technology companies develop system to help the United Nations provide digital legal identification for refugees who have no official documents.Accenture and Microsoft have designed a digital ID network running on blockchain technology.The prototype connects existing public and commercial records so people can access their personal details from any location.

  • ID2020 is an alliance of governments, public sector organisations and technology companies working together to help the UN realise its goal.The system, which builds on Accenture’s existing biometrics identity management platform, will be tested with aid agencies in the near future.
  • How it works

    Image copyright
    Accenture

    Image caption

    Using the digital ID network, the refugee’s data from a previous employer can be authenticated and a “stamp” is issued

    Often when people arrive at a refugee camp for the first time, they don’t have anything to prove their identity, which is essential for a range of health, financial and education services.

  • Usually, several aid agencies at once will be trying to work with the same refugees, and, until now, there has not been a way for them to share data securely.In the future, when a refugee arrives at a camp, their face, irises and fingerprints could be scanned and the resulting biometric data stored, with their name, on one of the aid agency’s servers.The blockchain digital ID network then creates a “stamp” – a unique identifier between the refugee and the data on the servers – that proves they have been authenticated for each service they receive.
  • Eventually, they will have an album of stamps they can show to any provider or government to prove their identity digitally, without needing to worry about data going missing from various providers.What is blockchain?The blockchain is a method of recording data – a digital ledger of transactions, agreements, contracts, anything that needs to be independently recorded and verified as having happened.The big difference is that this ledger isn’t stored in one place, it’s distributed across several hundreds or even thousands of computers around the world.

A digital ID system running on the blockchain is being tested for the UN High Commissioner for Refugees.
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Cryptocurrency exchange to credit traders for ethereum ‘flash crash’

Cryptocurrency exchange to credit traders for ethereum 'flash crash' - CNBC  #Crypto #BitCoin

  • Some traders who lost money in this week’s ethereum “flash crash” are going to be credited for their losses, the GDAX cryptocurrency exchange announced on Friday.
  • In a blog post on Friday, vice president Adam White said the exchange was “confident all trades this week were executed properly, however, some customers did not receive the quality of service we strive to provide and we want to do better.”
  • Therefore, the GDAX will create a process to credit customer accounts which experienced a margin call or stop loss order as a result of that crash, he said.
  • However, White noted that the exchange will honor all buy orders filled during that time.
  • “We view this as an opportunity to demonstrate our long-term commitment to our customers and belief in the future of this industry,” White said.

The GDAX is “confident” traders were executed properly, however, some customers did not receive the quality of service it strives to provide, its VP said.
Continue reading “Cryptocurrency exchange to credit traders for ethereum ‘flash crash’”

Cryptocurrency exchange to credit traders for ethereum ‘flash crash’

  • Some traders who lost money in this week’s ethereum “flash crash” are going to be credited for their losses, the GDAX cryptocurrency exchange announced on Friday.
  • In a blog post on Friday, vice president Adam White said the exchange was “confident all trades this week were executed properly, however, some customers did not receive the quality of service we strive to provide and we want to do better.”
  • Therefore, the GDAX will create a process to credit customer accounts which experienced a margin call or stop loss order as a result of that crash, he said.
  • However, White noted that the exchange will honor all buy orders filled during that time.
  • “We view this as an opportunity to demonstrate our long-term commitment to our customers and belief in the future of this industry,” White said.

The GDAX is “confident” traders were executed properly, however, some customers did not receive the quality of service it strives to provide, its VP said.
Continue reading “Cryptocurrency exchange to credit traders for ethereum ‘flash crash’”

The Future of Fintech

  • In 2017, we have set up the company ‘Swiss Banking Advisory’ in the UK, as it was requested by our collaboration partner for our last project in London.
  • Since then, our aim became to build a bridge between London and Zurich and to support the innovative Fintech scenes of both cities to better connect with each other.
  • We invite innovative women in finance and banking to become our shareholders, speakers, supporters, partners or guests.
  • Can we add you to the group of female shareholders of Swiss Banking Advisory?

In 2017, we have set up the company ‘Swiss Banking Advisory’ in the UK, as it was requested by our collaboration partner for our last project in London. …
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GDP ‘not fit for purpose’ in digital age, says Google

  • The rise of the smartphone and apps such as Instagram and Snapchat mean traditional measures of growth are no longer fit for purpose, according to Google’s chief economist.
  • Hal Varian said the global nature of modern supply chains meant statisticians were miscounting growth in GDP and productivity.
  • “I think GDP is larger and productivity is larger than indicated [by the data],” he said.
  • Mr Varian urged politicians to look at other ways of measuring growth and welfare than the commonly used measure of GDP.

The rise of the smartphone and apps such as Instagram and Snapchat mean traditional measures of growth are no longer fit for purpose, according to Google’s chief economist.
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