The Merriam-Webster dictionary defines identity as “the distinguishing characteristic or character of an individual”. Digital identity has one primary purpose, which is to verify that we are who we claim to be, and the various methods used to do so are now ripe for reform, with new technology ready bring about much needed change.
We have seen how the pandemic has driven the need for dynamic and robust digital identity protection. Over the past two years, we have needed access to all kinds of services, while in order to do so we have used various means to share personally identifiable information. This is not without risk: some of the methods used do not allow for strong credential verification and cybercriminals will seek to obtain people’s personal information, which demonstrates the need for strong credentials. reform is necessary.
At the beginning of the digital age, many of the initial threats to an individual’s digital identity were countered by the evolving digital identity protections at the time. As cybercriminals develop methods to commit identity theft, these efforts have been quashed with new tools that detect and respond to the threat. Technology and online habits have come by leaps and bounds and online transactions and verifications are part of our daily lives.
However, the verification methods used often reveal more than the requested information. For example, if you need to prove your age to make a transaction or access a service, you can provide more personal information, including your height, eye color, marital status and address, All information may be collected and stored by third parties. Furthermore, we want a digital identity system that goes beyond identity protection and allows consumers to live a safe and productive digital life.
Identity theft occurs when an individual’s personally identifiable information is obtained and used without authorization, often for financial gain, so identity thieves can make unauthorized purchases. on credit cards, hijacking existing financial accounts and even creating new financial accounts, which can lead to financial loss.
We are now at a critical juncture. Businesses and organizations around the world recognize the need for change. While we’ve abandoned the need for a direct ‘wet signature’ to prove our identity for many transactions, we need a new way to secure legitimate transactions and verify technical identity. numbers, in addition to physics.
The next-generation approach will give users greater control over their data exposure and streamline digital identity protection, to eliminate over-sharing. a lot of personal data, which unnecessarily exposes sensitive information. One design that delivers these capabilities is Decentralized Digital Identity (DDI) technology. Also known as Autonomous Identity, this technology gathers necessary credentials in a digital wallet, ending existing complexity.
With credentials stored in your digital wallet, DDI technology allows cryptographic proofs to be shared with verifiers – so specific identifiers can be shared, instead of submit unreliable photographic evidence and reveal all irrelevant personal data. Furthermore, cryptographic mechanisms ensure the integrity of the aforementioned credentials and provide the level of assurance required by modern transactions.
The solution is within our reach, providing people with a viable option for their personal information to be transmitted with greater privacy and security controls. According to a report *on Cybercrime done recently, we know people in India are already concerned about data privacy, with almost nine out of 10 Indian adults (88%) actively taking steps to hide their digital footprints. digital – their online personal information. This is a strong indication that Indians have wanted to control what information they share and the emerging importance of an electronic identification solution.
This next-generation solution will also leverage and streamline options for obtaining user consent, as well as standardizing verification in general. Perhaps most significantly, DDI has even been standardized by the World Wide Web Consortium (W3C) and supported by many other key stakeholders. This level of support enhances the standard’s likelihood of success, even when implemented by completely different entities.
An opportunistic moment that presents itself for digital identity reform, with systems ready for the future, with experts and technology providers ready to provide the necessary support to help. bring about this digital identity revolution.
(* Survey for report by The Harris Poll from 15 November to 7 December 2021. Based on an online survey of 1,000 Indian adults.)
Via Petros EfstathopoulosHead of Global Research, NortonLifeLock