BioCon Malaysia Highlights Importance of Trusted Identification for Digital Economy

Innovatrics hosted another edition of our international biometric conference series, BioCon, in Malaysia last week. For the first time, we have partnered with MDEC, the Malaysia Digital Economy Corporation, a government entity, and a long-term trusted partner Kridentia. Over 100 guests from all relevant government departments attended the event.

 “MDEC recognizes the growing concern with identity management. As traditional businesses started making use of online platforms to engage their suppliers and clients, it is becoming highly critical for them to be able to ascertain that they are communicating information and transacting with the rightful party,” said Datuk Fadzli Abdul Wahit, the Senior Vice President of MDEC in his opening remarks. Malaysia holds the distinction as the country which issued the world’s first biometric passport.

Presenters included Control Data of Thailand, the authors of ThaiID, an extremely successful government digital ID project that has gained 10 million users in just six months since its launch. Peter Mah of V-Key Singapore has shown the importance of mobile security, while Innovatrics’ Matus Kapusta has explained the company’s successes in border control projects.

Moreover, MDEC has presented several successful startups, showcasing how integral KYC is in the country’s growing shared economy sector. “With the possibility to provide government-backed digital ID, the boost to the digital economy would be tremendous due to the trust it would bring into all the transactions,” concluded Kridentia CEO Datuk Abdul Rashid Ghani as he discussed their idea of digital ID for the country.