US Government Prioritizes Standards Development for Digital Identity and Blockchain Technologies

On May 4, the Biden administration in the United States released a national standards strategy for critical and emerging technologies, which highlighted eight areas for the development of prioritized standards. Among these are digital identity infrastructure and distributed ledger technologies, which are becoming increasingly important in a variety of economic sectors. Digital identity is defined as the unique representation of a subject engaged in an online transaction, whereas distributed ledger technology is a synonym for blockchain. The National Institute of Standards and Technology (NIST) is responsible for coordinating government standards activities and is currently reviewing documents on digital identity.



One use of digital identity in the economic sector is for Know Your Customer (KYC) and Anti-Money Laundering (AML)


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