India, home to the world’s largest national biometric registry, plans to begin sharing citizens’ data with the country’s private companies and startups.

The government-backed program, called “India Stack,” will allow the second most populous country on Earth to share nearly all of its 1.3 billion citizens’ fingerprints, iris scans, and more, potentially creating unprecedented security and privacy risks in the name of convenience and digital commerce.

India Stack will open up the country’s troves of biometric data to Indian software developers, health care providers, and any other business interested in using the government’s identification records in their apps and services. The Indian government hopes the move will spur innovation, jumpstarting its effort to create a centralized system of digital commerce where citizens can purchase goods, apply for health insurance, or even qualify for a loan using the biometric sensors on their smartphones.