'Why Understanding Digital Wallets is Key for Central Banks Desiring Widespread CBDC Implementation' bharatpe india
into the Aadhaar system has come under intense scrutiny, with many questions being raised by privacy advocates of Aadhaar’s protection and usage of collected data. This raises questions of how AML/KYC regulations can be followed without violating users’ rights to privacy, while still ensuring proper identification of consumers.
Additionally, the issue of wallets being able to work in cross-border scenarios is also a topic that necessitates further discussion. Different country-specific regulations present significant challenges for regulators, necessitating more investigation on how truly interoperable wallets can be developed for consumer use, with migrant workers, business travelers, and tourists being among the millions of consumers that would want a multi-functional and interoperable wallet.
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