Updated Jan 15, 2021
Despite advances in technological development, there continues to be 1.1 billion people without any form of legal identity. Without legal identity, individuals are prohibited from accessing the wide range of services that enable positive development – socially and financially. For those who are receiving welfare and aid from institutions, each time an individual receives a payment, whether it is remittances, welfare, donations or aid, they are one-offs with little sustainable impact. There are also individuals with legal identity but no digital trail. Whilst they have access to social and financial services, they are not able to capture any data associated with their identity profiles. As end-users lose out, institutions also face challenging issues around efficiency and effectiveness. Governments, development bodies and disaster relief agencies face mounting demand amidst reduction in resources. Without access to reliable and regulatory compliant data, organisations struggle to find efficiency gains; whether it is to ensure that support is reaching those intended, or how best to targetedly allocate. A solution is necessary to enable end-users the opportunity to participate in the global digital economy; through affording institutional partners the ability to offer accessible channels and avenues.
To tackle these problems, we have created a proven global identity gateway with security and traceability. If Google created the search engine, we created a transparency engine. Through our customers (governments, banks and other institutions), the solution brings users access to the most important services including payments via digital identity using blockchain technology. Our solution has been tried and tested across multiple verticals globally. These include social welfare, remittances, e-health, disaster relief, donations and aid. The AID:Tech solution has been deployed in the US, Ireland, Singapore, Philippines, Serbia, Tanzania and Lebanon. With this specific innovation we will be delivering Microinsurance in partnership with Women's World Banking to more than 2 million women around the world, building on a solution called 'caregiver' which has already been deployed in more than 10 emerging markets.