Page 8 - ITU-T Focus Group Digital Financial Services – Technology, innovation and competition
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7.2 Voice channel 101
7.3 Text-based 102
7.4 Graphical interfaces 103
8 Digital value chain technologies and transactions 104
8.1 Overview 104
8.2 Sound-based 105
8.3 SMS and short codes 105
8.4 USSD 106
8.5 NFC 106
8.6 Quick response (QR) codes 106
8.7 Magstripe and chip card readers 106
9 Thin SIM technology in DFS 107
9.1 Overview 107
9.2 Uses of thin SIMs 107
10 Identity verification in DFS accounts and transactions 108
10.1 Overview 108
10.2 Technologies used 108
11 DFS payment infrastructure 109
11.1 Overview 109
11.2 Technical standards 109
11.3 Technical implementations 109
12 Conclusion 110
V Mobile Handset Use in Digital Financial Services 111
1 Overview 114
2 Phone types 114
3 Phone statistics 115
4 Taxation and handsets 116
5 DFS and phone features 117
6 Phone models available in emerging markets 118
7 Conclusion 121
VI Distributed Ledger Technologies and Financial Inclusion 122
Executive summary 123
1 Introduction to Distributed ledger technology (DLT) 126
1.1 What is a DLT? 126
1.2 The concepts of blockchains and ‘distributed ledgers’ 126
1.3 Distributed ledger constructs 128
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