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Ramzi Zainum Ikhsan
Alfabet Inkubator Group

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Blockchain for Financial Identity in Developing Nations Sri Watini; Ora Plane Maria Daeli; Syahyono Syahyono; Ramzi Zainum Ikhsan; Oliver Sauntos
Journal of Orange Technology Vol. 2 No. 2 (2026): April
Publisher : Sinar Mentari Sundara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.68012/jot.v2i2.87

Abstract

The absence of formal financial identity remains a major barrier to financial inclusion in developing nations. Existing centralized identity systems are often vulnerable to fraud, data breaches, and third-party control, leading to low public trust and limited access to financial services. Blockchain technology offers a decentralized alternative through the concept of Self-Sovereign Identity (SSI), which enables individuals to own and control their personal data securely. This study aims to examine how blockchain-based identity systems can address the weaknesses of traditional identity frameworks and to identify the key technical and social challenges in their implementation within developing economies. Using a qualitative, case study-based approach, the research analyzes several blockchain-driven digital identity projects across diverse regions. The findings indicate that blockchain-enabled SSI improves data security, transparency, and user trust, while enhancing access to financial services. However, challenges related to infrastructure limitations, scalability, and regulatory uncertainty re- main significant obstacles. Overall, blockchain has the potential to serve as a foundational technology for creating inclusive, secure, and sustainable financial identity systems in developing nations, while offering practical insights for policymakers, regulators, and financial institutions worldwide.
Co-Authors Oliver Sauntos Ora Plane Maria Daeli Sri Watini Syahyono Syahyono