The new wallet will contain a digital ID, digitized certificates, insurance info, driver’s licenses and more, making KYC easy and cheap for financial firms. Taiwan’s Ministry of Digital Affairs revealed this week that the new wallet will contain citizens’ digitized identification, national health insurance information, certificates of professional skills, business certificates, driving licenses and more. The East Asian nation says the new digital wallet can be used for identity verification in private and public sector institutions. Financial institutions, such as banks and insurance firms, have welcomed the initiative, which they say will ease the resources and time they allocate to identity verification.