Bob Wigley, Chairman of UK Finance, thinks a “super app” that stores your economic digital identity is in the works.
In addition to the user’s digital identity, the app would store financial data such as credit score ratings.
Reclaim The Net explained that the UK has already seen a similar app introduced to its population:
The economic digital ID would be similar to the UK government’s NHS health app, which carries an individual’s health data. Launched in January 2019, the app faced opposition before it gained popularity during the pandemic.
Finance expert Wigley says that the banking sector has taken note of the NHS app and might launch a similar app for economic data.
So, the NHS app was introduced right before a “pandemic.”
Does that mean financial elites are laying the foundation for an economic digital ID app that tracks all your financial data?
Will they implode the economy when this “super app” is ready for roll out?
As WLT reported, digital ID is a precursor to central bank digital currencies (CBDCs).
CBDCs will lead to economic and financial enslavement of the masses.
WATCH: The Plot To Enslave Every Man, Woman, And Child Is Here—Why We Must Stop CBDCs
Without digital ID, CBDCs cannot function.
That’s why digital ID must be stopped at all costs.
Maajid Nawaz introduces Joe Rogan to Central Bank Digital Currencies (CBDC) and their programmable, centralized nature which will be serving as the central social credit system.
As this is in place, there is no reason for vaccination passports (Part 1) pic.twitter.com/9Y2qILzKwr
— Michael O'Fallon – Sovereign Nations (@SovMichael) February 20, 2022
This “super app” idea will destroy economic freedom for UK residents.
Yahoo Finance provided further details about this “super app”:
The UK’s financial sector has taken note of the NHS app’s popularity and one top banking official predicts that the launch of an equivalent digital ID for UK citizen’s economic data is inevitable.
Referring to this ‘super-app’ that could carry all of the financial data of each UK citizen, Chair of UK Finance Bob Wigley said: “This will be the year that we finally persuade the banking system that we need an economic digital identity system, just like the NHS app.”
Speaking at the New Digital Assets and Money Symposium conference in the City of London on Tuesday, he added: “This financial app will be personal and attached to each citizen as we need a wider fully digital economic identity programme.”
The member of the UK government’s Trade Advisory Group for Financial Services at the Department for International Trade added: “If we don’t do it, the big tech platforms will do it, so we should be designing it.”
Wigley explained to Yahoo Finance that this app would carry everything from personal economic data such as credit ratings, to anti-money laundering data and know your customer (KYC) details.
He added: “It would be something each person would carry with them and they could then connect it to any platform or financial institution that they operate with, such as banks and insurance firms.”
Simultaneously, the Federal Reserve is creating digital ID infrastructure for the United States.
Federal Reserve Takes Major Step Toward Chinese-Style Social Credit Score System
The Federal Reserve stated:
The Federal Reserve Board on Thursday announced that six of the nation’s largest banks will participate in a pilot climate scenario analysis exercise designed to enhance the ability of supervisors and firms to measure and manage climate-related financial risks. Scenario analysis—in which the resilience of financial institutions is assessed under different hypothetical climate scenarios—is an emerging tool to assess climate-related financial risks, and there will be no capital or supervisory implications from the pilot.
The pilot exercise will be launched in early 2023 and is expected to conclude around the end of the year. At the beginning of the exercise, the Board will publish details of the climate, economic, and financial variables that make up the climate scenario narratives.
Over the course of the pilot, participating firms will analyze the impact of the scenarios on specific portfolios and business strategies. The Board will then review firm analysis and engage with those firms to build capacity to manage climate-related financial risks. The Board anticipates publishing insights gained from the pilot at an aggregate level, reflecting what has been learned about climate risk management practices and how insights from scenario analysis will help identify potential risks and promote risk management practices. No firm-specific information will be released.
Climate scenario analysis is distinct and separate from bank stress tests. The Board’s stress tests are designed to assess whether large banks have enough capital to continue lending to households and businesses during a severe recession. The climate scenario analysis exercise, on the other hand, is exploratory in nature and does not have capital consequences. By considering a range of possible future climate pathways and associated economic and financial developments, scenario analysis can assist firms and supervisors in understanding how climate-related financial risks may manifest and differ from historical experience.
The banks in the pilot exercise are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo. In coming months, the Board will provide additional details on how the exercise will be conducted and the scenarios that will be used in the pilot.
We the People must reject this at ALL COSTS!
Digital ID will lead to CBDCs.
With a CBDC, we lose 100% of our financial freedom to the government and central bank.
The institution of a digitalized, totalitarian slave state will be complete.
Every country must reject digital ID.
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!