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India Stack/Aadhaar Stack

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My presentation at Money2020 Asia 2018 on the India Stack (Aadhaar Stack)

Publicado en: Economía y finanzas
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India Stack/Aadhaar Stack

  1. 1. The India Stack: Digital money power for 1.2 billion
  2. 2. What is the India Stack (or Aadhaar Stack)? Presence-less layer Paperless layer Cashless layer Consent layer IndiaStack A modern privacy data sharing framework An electronic interoperable payment network Easily store and retrieve information digitally Unique digital biometric identity with open API access What is it? What is in it? Who is the owner? Open personal data store IMPS, AEPS,APB, UPI Aadhaar e-KYC, e-Sign, Digital Locker Aadhaar card, mobile Aadhaar Reserve Bank of India National Payments Corporation of India Department of Electronics and Information Technology Unique Identification Authority of India
  3. 3. Capabilities to bring in 1.2 billion people into the digital money system 2010 2011 2012 2013 2014 2015 2016 2017 Aadhaar Identity Aadhaar based Payments Aadhaar based e-KYC E-signature and Digital locker Payment network and App Aadhar on mobile Jan Dhan J Aadhaar A Mobile M Bank accounts Digital identity Infrastructure 100M 600M 190M 190M 950M 250M 250M 1B 290M 300M 1.1B 350M
  4. 4. Indian Fintechs using India Stack APIs 69% eSignAadhaar eKYC Aadhaar Authentication UPI Digital Locker 14% 9% 6% 3% Popularity of individual India Stack APIs • A massive 84% of fintechs are using IndiaStack APIs • A significant 69% of startups use Aadhaar as their primary means of customer identification 16% | Not using India Stack APIs 84% | Using India Stack APIs Source: Yes Fintech IFOR Survey 2017 Indian FinTechs love the India Stack APIs
  5. 5. India stack powered digital ecosystem DBT Digital Locker AEPS UPI APB eSign India Stack: Applications Consumer and business devices Iris sensors Tablets Finger-print Scan Check-in device Smartphone Micro ATM Government Schemes Haqdarshak, EazyGov Transportation Journee Payments Google Tez, PhonePe, Lending Capital Float, Gradufund Healthcare CancerRegis Financial Inclusion Krishiyog
  6. 6. Does it already exist in other forms? Sweden – Swish United States – Square, Paypal, Venmo United Kingdom- Open Banking Europe - PSD2, GDPR Brazil- Association of Digital Identification Technology Companies Indonesia - Karta Tanda Penduduk Malaysia - The MyKad Singapore - MyInfo Ghana - National Identification Authority Australia - New Payments Platform Presence-less layer Cashless layer Consent layer
  7. 7. THE PROCESS DEMONETISATION, GST INCLUSION IDENTITY SECURITY FAKE ENTRIES The Good, The Bad, The Ugly.. Aadhaar data leaks and fraudulent apps Aadhaar use extended to pension schemes, employee provident funds, cooking gas subsidies, and direct benefits transfers India Stack has facilitated 10 billion customer authentications at just 0.2 cent per authentication Aadhaar card mentioning ‘Year of Birth’ instead of ‘Date of Birth’ and other controversies Huge challenges for the common man to deal with new economic and technological initiatives Aadhaar cards have been made for dogs, cows and 'Lord Hanuman'
  8. 8. Thank you! @burnmark_
  9. 9. DigitalIDtype No digital ID Digital ID for Identification Digital ID for digital services Multi-purpose digital ID (including signature and remote services) 100 3020 5040 60 High income countries Developing countries Digital Identity: A phenomenon across the world Source: World bank Identity for development database India Stack equivalent