NEW DELHI, India (PNN) - September 27, 2018 - As the march toward a cashless (and privacy-less) society accelerates forward, a new high watermark has been reached.
India first introduced its concept for a nationwide biometric ID database more than 7 years ago, which it touted as a necessary “social welfare” program to assist the millions of India’s unbanked, streamline welfare distribution, and reduce corruption.
Yet, although the justification for the billion person database is the increased ability to accurately disperse social welfare benefits, it will not be just the Indian government’s social welfare programs that have access to and utilize the UIDAI. Indeed, even before the program has been completed, major banks, state/local governments, and other institutions are planning to use the UIDAI for identification verification purposes and, of course, payment and accessibility.