Bhutan Could Explore Blockchain-Based Digital Identity Solutions Amid Crypto Adoption and Sovereignty Goals

Key Points

1. Bhutan’s cultural identity, particularly its naming conventions, presents unique challenges and opportunities for digital identity systems.

2. Blockchain technology could provide immutable and verifiable credentials, addressing issues in the current system.

3. Bhutan can learn from international blockchain identity pilots, such as the European Union’s experiments with tamper-proof diplomas.

4. Implementing blockchain-based identity could improve compliance with KYC and AML regulations while maintaining privacy and security standards.

5. The initiative aligns with Bhutan’s emphasis on ethical and sustainable technology adoption.