iComply Participates in the United Nations Blockchain for Impact Summit #BFI2018
Unger’s group argued that ID subjects must have a say in any decision related to an identity protocol (consensus) and the need for a “Data Subject Bill of Rights” or “Digital Identity Charter” that includes the following:
- Right to Create: everyone must have the right to create a digital identity they own and have control over.
- Right to Delegate Access: everyone must have the right to choose who has access to their identity and personal information, and the right to revoke that access.
- Right to Recover: everyone must have the right to recover what data is stored about them and the ability to recover or reset lost or stolen private keys.
- Right to Audit: Everyone must have the right to see all data about themselves that is stored as well as who has historically and currently had access to their data and for what purpose.
- Right to be Forgotten: Every individual must have the ability to completely erase their personal data from a digital identity system.
- No Backdoors: personal data must be completely secure with no third party given access to overwrite data or access credentials.
- No Honeypots: personal data about individuals must not be commingled with the personal data of others.
iComply was pleased to participate in this event and looks forward to future engagement with the United Nations Blockchain Working Group.
Looking for financial grade KYC and AML in an enterprise ready API?
iComply offers global screening for humans, corporations, and blockchain transactions in a single REST API.
Book a demo with one of our specialists to learn more.
About iComply Investor Services Inc.
iComply Investor Services Inc. (iComply) is an award-winning software company focused on reducing regulatory friction in the capital markets. With powerful data, verification, tokenization solutions, iComply helps companies overcome the cost and complexity of multi-jurisdictional compliance to effectively access new markets. Learn more: iComplyIS.com
The Impact of Neobanks on AML and KYC Compliance: Ensuring Security in a Decentralized Era
As global financial institutions collectively face the reality of managing a consumer base that has aggressively adopted an increasingly digital presence, traditional banks are also facing a rising challenge in competing against a rapidly decentralizing model of...
Implementing Client Due Diligence in Credit Unions: Protecting Members and Ensuring Compliance
The evolving financial and political climate of 2023 and a post-pandemic market have left financial institutions and credit unions facing unique challenges as they navigate the new and growing risks associated with conducting business in an increasingly digital world....
Safeguarding Society: How Customer Due Diligence Helps Prevent Global Crime
With the economy facing increasingly challenging times and banking institutions having to contend with a sharp increase in digital users over the past few years, the threat of cybercrime, specifically in the financial sector, is at an all-time high. At its core, the...