The Age of Consent – The Case for Federated Bank ID

Treasury and Trade Solutions 16 1 The fiat currency stack is the set of systems that makes digital money work, and it includes digital identity, Real-Time Gross Settlement (RTGS), Automated Clearing House (ACH), SWIFT, CLS, Faster Payments, Request to Pay, card networks, open banking and electronic money schemes. 2 Directive (EU) 2015/2366 of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC, from 3 Regulation (EU) 2016/679 of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation), from 4 The Impact of SCA: Shaking Up Europe’s Online Economy from . 5 BigTech and the Changing Structure of Financial Intermediation available at . 6 The Libra White Paper, Introducing Libra, available at . 7 See . 8 See . 9 See 10 E-krona available at 11 From “B2B Data Sharing: Digital Consent Management as a Driver for Data Opportunities” (2018) and “Security and Identity Challenges in Crypto- Technologies” (2017) at 12 See 13 For MitID, see For eID, see 14 See section 5.4.5 of Payment and Settlement Systems in India: Vision – 2019-2021 available at . 15 See Digital Identification: A Key to Inclusive Growth available at . 16 See Identity is the New Money by David Birch. 17 See Revolution. 18 See The expert perspectives provided in this document are personal opinions and for information purposes only, they do not represent the views of the organisations of these experts. Endnotes