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How about a bank-provided digital id that you get when opening an account by walking into a physical bank location and providing your photo ID? It would tick t

How about a bank-provided digital id that you get when opening an account by walking into a physical bank location and providing your photo ID? It would tick the "less prone to lock out" problem without placing even more power in government hands.

scrollaway 2y ago
We have this in Belgium and it’s really not that good. It created a pattern of companies relying on people having an account at certain banks; which when you’re either immigrant or unbanked is unlikely and shuts you out of certain businesses. It’s been phased out for the government provided login system which is much better but not exactly simple for laypeople to set up. On top of this, integrating with it requires an extensive certification process, it’s not just an open API.
- jks 2y ago
  Banking credentials are used a lot in Finland to sign into other services. This means you get phishing emails saying "your medical test results are available" or "you're getting a tax return" where the actual goal is to get into your bank account.
deleted 2y ago
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dalke 2y ago
Bank provided causes problems with people who don't have bank accounts. Here in Sweden most people use bank-provided electronic ID called "BankID". Quoting "Foreign citizens in Sweden blocked from BankID after several banks roll out new rules" https://www.thelocal.se/20220117/foreign-citizens-in-sweden-blocked-from-bankid-after-banks-roll-out-new-rules https://www.thelocal.se/20220117/foreign-citizens-in-sweden-... > “We have been working systematically for six months to get residence permit cards, then a personal number, then a Skatteverket national ID card, and finally bank accounts. To our shock, we were just told by ICA Banken that the Skatteverket National ID – the only one available to non-citizens – is not a valid source of identification for BankID.” BankID causes problems because it isn't designed for the interests of the whole population. For example, it requires proprietary software which only runs on Microsoft Windows, macOS, iOS, or Android, with hardware verification and Google services. This makes it unacceptable to free software advocates, and to privacy advocates, and to national data sovereignty advocates .. the total population of which is so small as to not affect the banks' commercial interests. One thing I learned recently is how the US can, with its control over the SWIFT banking network, tell banks in other countries to shut down the account for a local citizen who the US has designated a terrorist. At least that's what I gather from the news I read after two leaders of the biggest neo-nazi group here in Sweden were designated as terrorists by the US. If the goal is to keep power out of government hands, don't look to highly-regulated banks which are subject to the whims of multiple governments.

scrollaway 2y ago

We have this in Belgium and it’s really not that good. It created a pattern of companies relying on people having an account at certain banks; which when you’re either immigrant or unbanked is unlikely and shuts you out of certain businesses. It’s been phased out for the government provided login system which is much better but not exactly simple for laypeople to set up. On top of this, integrating with it requires an extensive certification process, it’s not just an open API.

jks 2y ago
Banking credentials are used a lot in Finland to sign into other services. This means you get phishing emails saying "your medical test results are available" or "you're getting a tax return" where the actual goal is to get into your bank account.

deleted 2y ago

[deleted]

dalke 2y ago

Bank provided causes problems with people who don't have bank accounts. Here in Sweden most people use bank-provided electronic ID called "BankID". Quoting "Foreign citizens in Sweden blocked from BankID after several banks roll out new rules" https://www.thelocal.se/20220117/foreign-citizens-in-sweden-blocked-from-bankid-after-banks-roll-out-new-rules https://www.thelocal.se/20220117/foreign-citizens-in-sweden-... > “We have been working systematically for six months to get residence permit cards, then a personal number, then a Skatteverket national ID card, and finally bank accounts. To our shock, we were just told by ICA Banken that the Skatteverket National ID – the only one available to non-citizens – is not a valid source of identification for BankID.” BankID causes problems because it isn't designed for the interests of the whole population. For example, it requires proprietary software which only runs on Microsoft Windows, macOS, iOS, or Android, with hardware verification and Google services. This makes it unacceptable to free software advocates, and to privacy advocates, and to national data sovereignty advocates .. the total population of which is so small as to not affect the banks' commercial interests. One thing I learned recently is how the US can, with its control over the SWIFT banking network, tell banks in other countries to shut down the account for a local citizen who the US has designated a terrorist. At least that's what I gather from the news I read after two leaders of the biggest neo-nazi group here in Sweden were designated as terrorists by the US. If the goal is to keep power out of government hands, don't look to highly-regulated banks which are subject to the whims of multiple governments.