Part 4/11:
A core focus of Webb’s report is the close relationship between digital IDs and Central Bank Digital Currencies (CBDCs). According to documents from the United Nations and the Bank of International Settlements, these initiatives are explicitly designed to be intertwined. Digital IDs are necessary for the operation of a CBDC-based financial system because they enable "Know Your Customer" (KYC) protocols essential for digital transactions.
Without digital IDs, CBDCs cannot function efficiently, as authorities require a secure way to verify individual identities for every transaction. Webb notes that digital IDs will be tied directly to digital wallets that are linked to biometric data, thus creating an almost foolproof system of financial oversight and behavioral tracking.