The National ID system seeks to establish a verifiable digital identity for Filipinos which will enable them to open bank accounts, use financial services more efficiently, and gainfully participate in an increasingly digital economy.
On top of that, many euro area constituencies are facing a dilemma because they do not know whether to wait for a pan-European scheme or to develop a national scheme themselves. I think that rather than starting to develop national schemes, we should go straight to a panEuropean solution for instant payments.