Blockchain startup Twala unveiled its digital self-sovereign ID (SSI) at the Philippine Statistics Authority's (PSA) 2022 Philippine Identification Summit last September 27-29 highlighting the economic benefits the technology can deliver to the country.
During his presentation, Alex Quinit, co-founder and chief technology officer of Twala, said the current process organizations use for proving their customers' identities is time-inefficient and costly. "When opening a bank account, we are often asked to provide at least two government-issued IDs. For employment, we are being asked for police and NBI clearance, our academic credentials, and many more. It will take some time for these relying parties to verify our documents as they have limited ways to verify the authenticity of our documents."
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