Bhutan Transitions Digital Identity Framework to Ethereum Blockchain
- By 2026, approximately 800,000 citizens of Bhutan will have a blockchain-secured identity.
- The initiative was confirmed by Ethereum Foundation’s Aya Miyaguchi.
- Bhutan’s digital identity program evolved from Hyperledger to Polygon before moving to Ethereum for enhanced decentralization and security.
- Traditional identity programs cost between $5 and $10 per user annually, while Bhutan’s model aims to reduce this to under $1.
- The World Bank reports that nearly 850 million people worldwide lack any official form of ID.
- If successful, Bhutan could demonstrate that public infrastructure can effectively utilize an open blockchain like Ethereum.
Bhutan’s transition to a self-sovereign identity architecture on the Ethereum blockchain reflects a global shift in identity management amidst rising concerns over identity theft, with significant implications for financial inclusion.
This initiative could potentially lower the cost of identity verification significantly while providing secure access to essential services for its citizens (Source)
