ID system should be based on commercial bank. If you need to prove your identity or whatever about yourself just tell them to ask your bank and bank will ask you which information about yourself you are willing to share with whoever requested to confirm something about you.
When ID is tied to your bank account you guard it like you guard your bank account. Because it is the same thing. This will drastically lower the incentives to "share" your identity with anyone.
What's more this system is already operational in many countries.
I wonder how many months until this suggestion becomes slightly embarrassing. I barely want my banks to know what I buy and to be responsible for my money. I really don't want them knowing everywhere I go online. Especially when "my" bank goes under and all of my data gets sold off to whoever takes it over.
> I barely want my banks to know what I buy and to be responsible for my money. I really don't want them knowing everywhere I go online.
Bank ID systems, at least the ones I’m familiar with, don't work like that. Your bank confirms your identity to the authentication provider, and the authentication provider sends you on to the site you are logging into. The bank does not see the site you are visiting.
And what about debanked people? Are they now also deporned - and deyoutubed? Many of those people are debanked because they were politically risky, for example whistleblowers - are we now saying whistleblowers can't upload whistleblowing?
The proposed system moves sources of identity from the nation to private banks under it. So banks own people. Propose a financial regulation to the national congress/parliament and you stop existing, digitally or potentially physically as well. That's feudalism. Or Chinese struggles-of-nations warlord era situation which is often grouped up into that concept as close enough things.
I am not sure the proposal was for the bank to "own" the identity rather than being the manager of it the same way they already manage your money.
The state establishes your identity at birth. The bank already has access to your identity. If a service needs to know your identity, it asks the bank and it is illegal for them to store than information anywhere on their servers. It means only the bank is repsonsible for the safety of your id and selling and buying id information will be illegal.
Banks can be state-owned as well as private. Moreover, some countries have a particular bank that serves all citizens, even if they would not be able to bank elsewhere.
When ID is tied to your bank account you guard it like you guard your bank account. Because it is the same thing. This will drastically lower the incentives to "share" your identity with anyone.
What's more this system is already operational in many countries.