Lee on Nostr: The Vietnam Central Bank intends to make it mandatory to use #biometric ...
The Vietnam Central Bank intends to make it mandatory to use #biometric authentication for all transactions above ~US$411, with the aim of countering cybercrimes in the banking sector.
According to them, the most common attacks involve attackers obtaining users' login data and then illegally accessing their bank accounts. Their solution: to require biometric authentication on a large scale in a centralized manner.
Such measures, which have significant implications for privacy, are often introduced with minimal debate, criticism, and ultimately, without accountability. No discussion about how data will be secured or what if it is leaked.
It is expected that very soon in #Vietnam, you will have to provide your biometrics otherwise you'll be practically cut off from #fiat #banking. Despite Vietnam consistently ranking among the top countries in #Bitcoin and #crypto adoption surveys, i hardly notice people here are aware of it as a means to an alternative financial system. When hyperbitcoinization?
#testing3 (Posted on nostrid_ with pic)
#rieulee
According to them, the most common attacks involve attackers obtaining users' login data and then illegally accessing their bank accounts. Their solution: to require biometric authentication on a large scale in a centralized manner.
Such measures, which have significant implications for privacy, are often introduced with minimal debate, criticism, and ultimately, without accountability. No discussion about how data will be secured or what if it is leaked.
It is expected that very soon in #Vietnam, you will have to provide your biometrics otherwise you'll be practically cut off from #fiat #banking. Despite Vietnam consistently ranking among the top countries in #Bitcoin and #crypto adoption surveys, i hardly notice people here are aware of it as a means to an alternative financial system. When hyperbitcoinization?
#testing3 (Posted on nostrid_ with pic)
#rieulee