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An electronic registry is a structured & live identification system that gathers, saves, and maintains uniformed updated data or information on an entity, such as a patient, person, employee, student, or facility, and is constantly updated to serve as the entity's "Single Source of Truth'' which is also verifiable.
Registries function as a shared digital infrastructure foundational layer for national digital initiatives by facilitating a common source of verifiable data that can be utilized by any Govt or private entity or system with consent for execution of a digital initiative. Such registries enable consented subjects (people, entities, things) to enroll, manage their record with the necessary degrees of verification, and use third-party services that are built on it by using its authentication and KYC services.
Electronic registries are commonly used to increase transparency, reduce fraud, and improve efficiency in various industries. For example, a government might use an electronic land registry to manage property ownership and ensure that property transfers are properly recorded and tracked. A financial institution might use an electronic securities registry to track ownership and facilitate trading of securities.
Overall, electronic registries provide a digital solution for managing information and transactions, making them faster, more efficient, and more secure than traditional paper-based systems.