A future finance and payments infrastructure is likely to integrate increased levels of digital trust into every part of a transaction, and where we can instantly audit payment and digital asset infrastructures. A core part of this is in the integration of digital identity, which will support enhanced levels of trust in each of the entities involved in a transaction. With digital identity, there is the opportunity to integrate digital wallets, and which provide a way to link important elements of a customer’s data, such as in the proof of their identity and to make trusted payments.

These digital wallets and digital identities can then link onto distributed ledgers and thus provide enhanced levels of trust. Further advancements in technology can be made through the tokenisation of data, and where it is possible to mask private and sensitive data through cryptographic tokens. These tokens can also be used to link transactions together and provide a way of understanding full life cycle costs and interactions. At the core of these advancements is thus the opportunity to digitally sign transactions and have enhanced traceability, cybersecurity trust and improved auditability

TRUST will aim to provide demonstration environments for partnership and collaboration, including ones focused on digital wallets, digital identity, tokenisation, distributed ledger technology, smart contract integration, advanced cryptographic methods, and automation. These will include common trusted environments, such as Hyperledger Fabric and Ethereum, and will allow new applications and services to be investigated and evaluated.