Today, while watching Devil's Advocate @IBN Live with Karan Thapar & Nandan Nilekani, Chairman - UID project, India, many thoughts came to my mind. Are we going to yield the right kind of benefits from UID project, just by storing identity of citizens? Lack of identity cards or verification authorities is not the real problem in India but the credibility of system or actors in the system are the differentiators of success or failure in any programme. Can we stop corruption with the help of UID? No, I believe, because end of the day 'black money' or 'fake currency' can be stored some where and can be pushed to system through many ways. UID alone is not going to stop corruption

Government of India has decided to invest a huge sum of money for UID project and hired a right man for the job. According to Karan, as per Frontline magazine, guess estimate of the project is Rs.1.5 lakh crore (eventhough chairman hasn't agree with that estimate in the show). If we can find value adding sub projects to club with UID initiative, such initiatives too can be easily achieved together with UID.

Can we make UID mandatory to open a Bank Account? Can we make all the money transactions happening across the country, visible and traceable by a designated authority? Can we stop printing currency over a period of time and replace paper currency with digital currency? I firmly believe that we can expand the scope and add more value to UID project by plugging the revolutionary concept of digital currency, partly or fully.

What do you think?