The Merriam-Webster dictionary defines identity as “the distinctive character or personality of a person”. digital Identification has a primary purpose, which is to verify that we are the person we claim to be, and the different methods used to do this are now ripe for improvement, with new technology bringing much needed change. ready for
We have seen how the pandemic has intensified the need for robust, dynamic digital identity protection. Over the past two years we have needed to access all kinds of services, while in order to do so, we have used a variety of means to share personally-identifying information. It’s not without risk: Some of the methods used don’t lend themselves to strong credential verification, and cybercriminals will look for ways to misuse people’s personal information, highlighting the need for improvement.
At the beginning of the digital age, many of the initial threats to an individual’s digital identity were countered by digital identity security measures being developed at the time. As cybercriminals developed ways to carry out identity theft, these efforts were suppressed with new tools and threat detection. Technology and online habits have taken many leaps and online transactions and verifications are a part of our daily life.
However, the verification methods used often reveal more information than is necessary. As an example, if you need to prove your age to make a transaction or access a service, you can provide your height, eye color, marital status and address, all information that may be collected and stored. including providing too much personal information. by third party. Furthermore, we want a digital identity system that goes beyond identity security and enables consumers to lead a secure and productive digital life.
Identity theft occurs when a person’s personally identifiable information is obtained and used without permission, often for financial gain, so identity thieves can make unauthorized purchases on credit cards, existing financial accounts. and even create new financial accounts, which can lead to financial loss.
We are now at a critical moment. Businesses and institutions around the world recognize the need for change. While we have already exceeded the need for a personal ‘wet signature’ to prove our identity for many transactions, we need a new way to secure valid transactions and verify digital identities beyond physical ones. the wanted.
The next-gen approach should provide users with greater control over their data exposure and streamline the digital identity protection process to remove oversharing of personal data, which unnecessarily exposes sensitive information. One design that provides these capabilities is decentralized digital identity (DDI) technology. Otherwise known as self-sovereign identity, the technology brings together essential credentials within a single digital wallet, neatly eliminating existing complexity.
With credentials stored in your digital wallet, DDI technology enables cryptographic proof to be shared with validators – so specific elements of identity can be shared, rather than sending unreliable photographic proofs and revealing entire sets of irrelevant personal data. Is. Furthermore, cryptographic mechanisms guarantee the integrity of said credentials and provide the level of assurance required for modern transactions.
The solution is, in our understanding, providing people with a viable alternative to the transmission of their personal information with greater security and privacy controls. *According to a report cyber crime Recently, we know that 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 footprint – their online personal information. This is a strong indication of how much information Indians already want to share and control the emerging importance of electronic identity solutions.
This next-gen solution will promote and streamline user consent options, as well as standardize verification in general. Perhaps most importantly, DDI is also standardized by the World Wide Web Consortium (W3C) and supported by several other key stakeholders. This level of support increases the potential success of the standard, even if implemented by completely different entities.
An opportune moment presents itself for improving digital identity, with systems appropriate for the future, with experts and technology providers providing the necessary support to help bring about this digital identity revolution.
(*Survey for the report conducted by The harris pole Between November 15 and December 7, 2021. Based on an online survey of 1,000 Indian adults.)
By petros efstathopoulosGlobal Head of Research, NortonLife Lock
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