Bitcoin Forum

NIN Tokenization

The Federal Government  of Nigeria is set for the  introduction of a digital multifaceted National Identification Number (NIN) "Tokenization" which is aimed at fighting against all kinds of attack and financial scam users may encounter through the exposure of their NIN with a third party, this will also serve as an authorized means to authenticate every transactions that could be made using the user NIN as a token for any confirmation in making payments, this has brought in place by the government as a means to tackle the effect of scam through personal assault or theft and curb all fraudulent activities whereby a token will be needed to make a transaction confirmed and the Nigerian financial economy will be more secured and safer for citizens through tokenization.

In addition, the tokenization introduced is to serve as a covering for the NIN whereby a set of numbers could be sourced representing the NIN digits whenever there's a need for an official or public identification, this tokenization serves as an encoding that can only be decoded by the right bearer thereby preserving the public appearance or exposure of the NIN when required, tokenization also permit privacy and security against any usage of the NIN by the service providers or any third party without the consent of the NIN bearer.

https://i.imgur.com/LgFND1z.jpg.    https://i.imgur.com/nHpCBuy.jpg
https://twitter.com/nimc_ng/status/1605489411721814016?t=n-Yr4amBhFEkzLNGLRL8OA&s=19