The post Maldives digital ID launch aims to supercharge economy appeared on BitcoinEthereumNews.com. Homepage > News > Business > Maldives digital ID launch aimsThe post Maldives digital ID launch aims to supercharge economy appeared on BitcoinEthereumNews.com. Homepage > News > Business > Maldives digital ID launch aims

Maldives digital ID launch aims to supercharge economy

2026/01/15 14:01
Okuma süresi: 2 dk
Bu içerikle ilgili geri bildirim veya endişeleriniz için lütfen crypto.news@mexc.com üzerinden bizimle iletişime geçin.

The island nation of the Maldives is set to start issuing digital IDs to its 530,000 citizens in 2026 as it seeks to boost its digital economy.

Announcing the move, the Minister of Homeland Security and Technology, Ali Ihusaan, said that the smart ID card will offer citizens access to dozens of public services. The government has been working on consolidating disparate systems operated by separate agencies into a unified platform to ease access in the digital age.

The minister revealed that the government has already enrolled 272,000 citizens aged 10 and above onto the new digital ID system, accounting for 80% of the eligible population. Now, all that remains is the issuance of the smart ID card.

The Maldives is the smallest country in Asia and the region’s second-least populous. Its $7 billion economy relies predominantly on tourism, attracting about two million visitors last year. Its digital economy is still in its nascent stage, but the government has a stated goal of boosting the sector to account for at least 15% of the gross domestic product (GDP) by the end of the decade. It’s part of a bigger plan to transition the country into a developed nation status by 2040.

The Maldives already has a headstart in digital ID issuance. The country has had an electronic ID system, dubbed eFaas, that has been active for over a decade. eFaas even offers biometric identification, with Latvian ID solutions company Regula Forensics taking over from Sumsub as the biometric tech partner a year ago.

Last year, legislators passed the Digital Identity Bill, establishing a digital ID system for the country and paving the way for the smart ID card.

According to the minister, the new card will offer access to 17 government agencies under the OneGov platform, enhancing access and boosting efficiency.

The Maldives joins neighboring Sri Lanka in making digitalization a core pillar of their economic growth strategies. The South Asian nation recently received a $50 million grant from the World Bank to boost its digital transformation, with a government cloud platform and an online citizen portal among the key targets.

Watch: Why using transparent ledger for digital identity ensures trust

frameborder=”0″ allow=”accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share” referrerpolicy=”strict-origin-when-cross-origin” allowfullscreen>

Source: https://coingeek.com/maldives-digital-id-launch-aims-to-supercharge-economy/

Piyasa Fırsatı
SPACE ID Logosu
SPACE ID Fiyatı(ID)
$0.03443
$0.03443$0.03443
-5.20%
USD
SPACE ID (ID) Canlı Fiyat Grafiği
Sorumluluk Reddi: Bu sitede yeniden yayınlanan makaleler, halka açık platformlardan alınmıştır ve yalnızca bilgilendirme amaçlıdır. MEXC'nin görüşlerini yansıtmayabilir. Tüm hakları telif sahiplerine aittir. Herhangi bir içeriğin üçüncü taraf haklarını ihlal ettiğini düşünüyorsanız, kaldırılması için lütfen crypto.news@mexc.com ile iletişime geçin. MEXC, içeriğin doğruluğu, eksiksizliği veya güncelliği konusunda hiçbir garanti vermez ve sağlanan bilgilere dayalı olarak alınan herhangi bir eylemden sorumlu değildir. İçerik, finansal, yasal veya diğer profesyonel tavsiye niteliğinde değildir ve MEXC tarafından bir tavsiye veya onay olarak değerlendirilmemelidir.

Ayrıca Şunları da Beğenebilirsiniz

Potential U.S. Recession Could Buy Japan More Time as It Faces Debt Implosion, Says Brookings Economist Robin Brooks

Potential U.S. Recession Could Buy Japan More Time as It Faces Debt Implosion, Says Brookings Economist Robin Brooks

The post Potential U.S. Recession Could Buy Japan More Time as It Faces Debt Implosion, Says Brookings Economist Robin Brooks appeared on BitcoinEthereumNews.com. While much of the attention from the crypto and traditional markets remains on the U.S., a recent analysis by a leading economist suggests it’s time to look east. Japan is teetering on the edge of a debt crisis, but a potential recession in the U.S. could provide the land of the rising sun a temporary window of relief, according to Robin Brooks, senior fellow in the Global Economy and Development program at the Brookings Institution. Japan’s debt-to-GDP is a problem For years, Japan has held the highest public debt-to-GDP ratio among advanced economies, consistently hovering above 200%. However, in the post-COVID era marked by massive fiscal spending, investors’ tolerance for such high debt levels has waned. To complicate matters, Japan’s inflation, as measured by the consumer price index (CPI), has surged since mid-2022, bringing inflation rates up to levels not seen since the 1980s. The trend is consistent with the sticky price pressures worldwide. The elevated inflation has pushed government bond yields higher and increased the cost of additional fiscal borrowing. These combined pressures have thrust Japan’s staggering debt-to-GDP ratio of around 240% into the spotlight, effectively boxing the government into a difficult position. Brooks put it best in his latest Substack post: “The bottom line is that exceptionally high government debt is putting Japan in a terrible bind. If Japan sticks with low interest rates, it risks further Yen depreciation, which could cause inflation to run out of control. If it anchors the Yen by allowing yields to rise further, this could put Japan’s debt sustainability at risk.” “This catch-22 means a debt crisis is much closer than people think,” he added. Growing debt concerns could drive investors to alternative financial escape valves such as cryptocurrencies, mainly stablecoins. Japanese startup JPYC is planning to issue the first stablecoin pegged…
Paylaş
BitcoinEthereumNews2025/09/18 02:18
US Spot Bitcoin ETFs Draw $1.3B in March, Marking First Monthly Inflow of 2026 – Crypto News Flash

US Spot Bitcoin ETFs Draw $1.3B in March, Marking First Monthly Inflow of 2026 – Crypto News Flash

The post US Spot Bitcoin ETFs Draw $1.3B in March, Marking First Monthly Inflow of 2026 – Crypto News Flash appeared on BitcoinEthereumNews.com. Bena Ilyas is a
Paylaş
BitcoinEthereumNews2026/04/02 13:01
US and allies intensify military actions against Iran

US and allies intensify military actions against Iran

The post US and allies intensify military actions against Iran appeared on BitcoinEthereumNews.com. Operation Epic Fury’s escalation cuts ceasefire odds. Ceasefire
Paylaş
BitcoinEthereumNews2026/04/02 13:05

Trade GOLD, Share 1,000,000 USDT

Trade GOLD, Share 1,000,000 USDTTrade GOLD, Share 1,000,000 USDT

0 fees, up to 1,000x leverage, deep liquidity