Digital identity prototype to improve financial wellbeing from gambling addiction
Lead Participant:
ONEID LIMITED
Abstract
For as long as people have gambled, there have been gambling addicts. Over the past 15 years, technological innovation and new freedoms for the gambling industry have increased problems, particularly for young people. Regulators struggle to even identify let alone contain the problem, which can often be across multiple continents and mediums. In July 2020, the House of Lords Gambling Committee recommended that the UK Government reclassify several categories of video games as gambling regulated under the auspices of the Gambling Act.
People who gamble regularly online are doing so just as often or more frequently during the coronavirus lockdown, despite the lack of sporting fixtures, according to the first significant survey of betting habits during the crisis. Minors run up huge debts on parents' credit cards chasing the adrenalin rush of uncovering loot-boxes containing hidden treasure within video games.
Our innovation is a direct solution to this problem, by the creation of a secure digital identity linked back to UK Bank identities, forcing gamblers and gamers to prove that they are who they say they are every time they participate.
DIN is building a collaborative ecosystem, or network, of participants that come together under a common rulebook and set of technical standards, to provide a new way for consumers to identify themselves online. This is referred to as the OneID (r) Scheme.
The principal benefits of this Scheme are:
* Simpler and quicker identity verification for the consumer
* Reduction in identity theft and fraud, through bank certified identity verification.
* Reduced cost of identity verification.
OneID (r)is an identity verification service provided in collaboration with participating banks to online businesses where some level of user verification for consumers is required. OneID (r) leverages the banks' trusted position in consumers' lives which uniquely positions them to attest to a user's identity and to provide trusted data about them.
People who gamble regularly online are doing so just as often or more frequently during the coronavirus lockdown, despite the lack of sporting fixtures, according to the first significant survey of betting habits during the crisis. Minors run up huge debts on parents' credit cards chasing the adrenalin rush of uncovering loot-boxes containing hidden treasure within video games.
Our innovation is a direct solution to this problem, by the creation of a secure digital identity linked back to UK Bank identities, forcing gamblers and gamers to prove that they are who they say they are every time they participate.
DIN is building a collaborative ecosystem, or network, of participants that come together under a common rulebook and set of technical standards, to provide a new way for consumers to identify themselves online. This is referred to as the OneID (r) Scheme.
The principal benefits of this Scheme are:
* Simpler and quicker identity verification for the consumer
* Reduction in identity theft and fraud, through bank certified identity verification.
* Reduced cost of identity verification.
OneID (r)is an identity verification service provided in collaboration with participating banks to online businesses where some level of user verification for consumers is required. OneID (r) leverages the banks' trusted position in consumers' lives which uniquely positions them to attest to a user's identity and to provide trusted data about them.
Lead Participant | Project Cost | Grant Offer |
---|---|---|
ONEID LIMITED | £247,172 | £ 174,998 |
People |
ORCID iD |
Nicholas Warden (Project Manager) |