Hong Kong Financial Services Development Council proposes five recommendations on the adoption and development of the digital ID ecosystem

Hong Kong Gold Bureau published a research report "Using Digital Identity: Promoting the Digital Transformation of Hong Kong's Financial Services Industry" and proposed a series of suggestions aimed at establishing an ecosystem conducive to the adoption and development of digital identity (digital ID) and promoting innovation and cooperation in Hong Kong's financial services industry. Specific policy recommendations include:

(1) Explore the "Smart Convenience" plan for more comprehensive implementation and empower the development of private digital identity wallets;

(2) Develop a digital identity trust framework for the digital identity ecosystem;

(3) Improve infrastructure and legal frameworks to enhance the interoperability of digital identities;

(4) Coordinate digital identity authentication standards to achieve seamless cross-border identity authentication mechanisms;

(5) Enhance education and promotion of trusted digital identity adoption and empower society. (Hong Kong Gold Bureau official website)