The NSW government has earmarked $ 8.9 million to start work on a personalized digital wallet that will allow citizens to prove their identity and share decentralized credentials.
The funding, which will come from the state’s $ 2.1 billion digital restart fund, was revealed in NSW’s semi-annual budget update. [pdf] yesterday.
The customer service department first revealed plans for the digital wallet or “credential vault” last month when it released an expression of interest to find the platforms underlying necessary.
The digital wallet – seen as a major part of the government’s recently released digital strategy – would allow citizens to manage and share decentralized and verifiable credentials.
It is expected that the wallet will allow citizens to verify government and private sector credentials, such as business licenses in the future.
Digital Minister Victor Dominello said iTnews last month it was important to make credentials verifiable as the lines between the physical and virtual world became increasingly blurred.
Budget documents released Thursday indicate that the digital wallet and digital identity hub within the Service NSW app would be accompanied by an exchange of business credentials.
The budget update also contains $ 98.7 million in funding for cybersecurity, which, like funding for the digital identity hub and digital wallet, also comes from the digital restart fund.
More than half of that will go to four clusters, with $ 67.5 million allocated to the initiatives of the Departments of Education, Customer Service, Prime Minister and Cabinet and Transport for New Wales from South.
The remaining $ 31.2 million has been allocated to 14 agencies from what the government describes as a “new $ 75 million cyber-reservation for small independent agencies.”
It is not clear whether any of the new funding will go to the NSW Election Commission, which has seen its last four funding offers to protect electoral systems from threats dismissed.
As announced by the government earlier this month, NSW’s digital space platform will receive $ 40 million over three years.
The funding will create a statewide 4D model, building on the eight local government areas, including Grand Parramatta and the Olympic Peninsula, which have already been mapped.
Budget documents also show that $ 10.5 million will be released from the “Smart Places reservation” to fund three projects, including one called Asset AI.
Asset AI “will use machine learning to predict and manage the risk to the community of asset deterioration and transportation faults,” the government said.