Saturday, April 13, 2024

    Omise and ETDA Sign MoU to Improve Thailand’s Digital ID Program

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    Omise, the popular blockchain-oriented company, recently signed a Memorandum of understanding with ETDA. This Thai government agency will collaborate with Omise on building a national eKYC portal. It is the first venture of its kind to become available in Thailand. Both entities will focus on exchanging information, experience, and technical information.

    This MoU was signed by both parties in Thailand earlier today. The new venture will primarily focus on coming up with new use cases for blockchain technology. Digital identity solutions are of great interest to ETDA. Given the country’s focus on digital society and economy, the infrastructure will need to evolve sooner rather than later. By partnering with Omise, a new digital identity authentication and verification platform will be built in the near future.

    Revamping Thailand’s National Digital ID Program With Omise

    Omise has built up a reputation as a company focus on computer programs. They also branched into the world of online payments through the OmiseGo venture. With this new focus on digital identity verification and authentication, the company takes another major step forward. This new system will be used for online and publicly accessible online transactions in Thailand, in accordance with the current laws. Supporting online transactions will lead to cheaper, faster, and more efficiency down the line.

    For Omise, a cooperation with the private sector is a big milestone. It also confirms Thailand’s focus on improving their National ID Program for Verification Services. With a transition to electronic solutions, blockchain technology seems like a logical solution. ETDA will manage the development of this system and ensure it complies with international standards. Both parties will benefit from this Memorandum of Understanding and help shape the future of digital services in Thailand.

    The digital verification platform being built will benefit Omise’s focus on digital payments as well. Before their service can be used, users need to verify their identity first and foremost. Omise will have a big role to play in this regard, as they will be responsible for screening consumers, businesses, and agencies alike. The use of blockchain technology will also prevent any information from being misused and deter fraud.

    Considering how this is the first digital identity provider venture in Thailand, it is a pretty big deal for all companies involved. The Thai government expects to see this kind of cooperation extend well beyond digital identity as well. It is unclear if that means they have high hopes for Omise specifically, but more details will become apparent in the future. A collaboration between the public and private sector is the right way forward to achieve solutions which will benefit the general public.

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