The Finnish Ministry of Finance has granted the Findynet Cooperative, which incorporates Nordea Financial institution and OP Monetary Group amongst its members, a €3 million authorities grant to construct a pilot setting for a self-sovereign id community.
The funding will probably be used to develop a typical and safe self-sovereign id community, which can be utilized to make sure the correctness of data in digital interactions.
Markus Hautala, chairman of the Board of the Findynet Cooperative, says: The belief community, which can now be constructed, promotes digital and human-centered knowledge economies. Because of this end-users handle their very own knowledge and may determine for themselves what data they share about themselves with completely different events to protect their privateness. For instance, this change of data might contain digital receipts, credit score data, and proof {of professional} {qualifications}.”
The founding members of the Findynet Cooperative embody 9 private and non-private sector organizations: Finance Finland, Finnish Publish, Nixu, Nordea Financial institution, OP Monetary Group, Social Insurance coverage Establishment of Finland (Kela), Expertise Finland, Tietoevry and Vastuu Group.