In a digitally-advanced modern world, replacing passwords seems like an uphill battle. But with the concept of portable digital identities, renowned brands are putting the foundation stone for a whole-new rich experience for users worldwide.
8 of 10 consumers prefer transacting with online brands having strong ID verification measures with 68% preferring digital identity use in the financial services sector.
Businesses are turning to Zero Trust security with multi-factor authentication as a step towards passwordless, which is a key factor in an identity-first cybersecurity strategy.
The new normal for digital payments is driven by COVID-19 concerns about physical contact, the increasing demand for security and the exponential expectations for a better consumer experience,
Digital identity verification connected to a government-issued identity document can help organizations confirm who users claim to be and regulate age-restricted content accordingly.
The concept of self-sovereign identity (SSI) is gaining interest as it allows users to selectively prove specific aspects of their digital identity using credentials stored in digital wallet.
Securing digital identity on immunity passport will require a trusted guardian that has significant checks and balances in its design and always put our privacy first.
MIT is proposing the use of health certification and digital identity tracking to anonymize personal data and protect user privacy while determining who can safely return to work.