Thursday, July 16, 2020

It is a secure, personal contract manager

The future for banks and digital ID
A Mobey report says that banks could be a big player — if they learn a few new tricks
The digital ID is an active process you hold in you hand. It manages the critical agreements in you online, offline, an banking/investment contracts. It dispenses digital bearer notes at your request.

The contracts are not that complex, and marked nodes in the contract will be high probability exchanges between to ledger processes, mostly.  You carry it around, like a cash card, (it is, and a credit card, cash in advance).  It can display a small set of number, and has a small set of buttons, and takes you live thumb print.  On you request, as part of a contract, the car can generate a private keys and keep it secret from everyone, including you.  This is quite a change in out habits, it is a singularity point.  Bankers need to think about simple credit,debit, purchase, and other contracts and small rules adapted to defined sets of ledger systems, managed simply with user direction, but perfectly honest, within the contract.  This is what bankers want, call me if you have trouble finding a vendor.

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