Digital Credentials Explained #26: Industry News and Latest Updates
Welcome to this week's edition of Digital Credentials Explained, where we dive deep into the ever-evolving world of digital credentials. As the landscape of digital credentialing continues to expand and transform, our focus this week is on groundbreaking developments and collaborative efforts across various sectors. Join us as we explore the latest initiatives, challenges, and innovations shaping the future of digital credentials.
Germany’s Baby Boomers Flip the Script on Digital Wallet Usage
In Germany, digital wallet usage is expanding beyond traditional financial transactions. Surprisingly, baby boomers and seniors are more likely to use digital wallets for online shopping than Gen Z, with a usage rate nearing half for all consumers. These tools are not only used for payments but also for storing credentials and identity verification, with high satisfaction reported among users. The insights from a PYMNTS Intelligence and Google Wallet study highlight the potential for further evolution and widespread adoption of digital wallets in Germany.
Bank of Ghana Rolls Out Digital Credentials for International Trade
Bank of Ghana, in collaboration with the Monetary Authority of Singapore (MAS), has successfully conducted a proof-of-concept (PoC) for using digital credentials in CBDC-based international payments and trade. This initiative, called Project DESFT, aims to enhance the participation of SMEs in global markets by overcoming barriers related to trust and financial transactions. The project involved direct transfers using blockchain technology, significantly reducing the need for intermediaries and associated costs, and was supported by various entities, including Giesecke+Devrient and Fidelity Bank. The next phase will focus on refining digital credential processes and expanding programmable payment solutions.
Five Quality Indicators for Edtech & AI Products
School systems face an overwhelming challenge in assessing the quality of educational technology (EdTech) products, exacerbated by the proliferation of AI tools. To streamline the evaluation process and reduce redundancy, seven leading EdTech organizations— 1EdTech Consortium , CAST (Center for Applied Special Technology) , Consortium for School Networking (CoSN) , Digital Promise , InnovateEDU , ISTE , and SETDA —have united to establish Five EdTech Quality Indicators: Safe, Evidence-Based, Inclusive, Usable, and Interoperable. These standards aim to facilitate quicker and more efficient validation of EdTech products, thus easing the decision-making burden on educators and ensuring that only high-quality tools reach students.
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Digital Credential Sharing Across States is Back on the Agenda for Services Australia
Services Australia has reinitiated efforts to enable digital credential sharing across state lines, focusing on interoperability through the new Digital ID and Verifiable Credentials Strategy. This includes integrating Medicare cards on the Service NSW app and digital driver's licenses on myGov. The collaboration between Mattr and Austroads aims to develop a Digital Trust Service (DTS) that ensures mobile driver's licenses are verifiable across jurisdictions, promoting a secure and globally interoperable digital credential landscape. The upcoming International Interoperability Test Event in Sydney will further showcase these advancements.
Before Next Time!
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