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Digital identities on blockchain could help with compliance in crypto, say players
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The crypto downturn is expected to go on for at least another six months.
PHOTO: REUTERS
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SINGAPORE - Investors who create a digital identity that is stored on the blockchain could find it easier to apply for an online wallet while companies would be able to verify identities more efficiently, say market observers.
Mr David Shin of Seoul-based tech firm Klaytn Foundation told The Straits Times on Wednesday that having this information stored shortens the time spent on creating accounts for digital wallets.
