How much of your life do you spend on the internet? What percentage of your awake hours do you think you spend connected to the internet somehow?
Consider that for a moment. You manage your money on the internet. You’ve got a job on the internet. Your post about your social life on the internet. On the internet, you communicate with family and friends. Perhaps you’re even enrolled in an online course. We are increasingly spending our lives online, and the epidemic has just confirmed this trend.
Each online interaction contributes to our digital identity. However, how much control do you have over your online identity? If you have privacy standards in place, you may have little control over these platforms and even less control over how they utilize your information.
In 2020, the Federal Trade Commission (FTC) received more than 2.2 million fraud reports from individual consumers in the United States alone. Identity theft is increasing as personal information is shared across several platforms and services. Because of this interconnection, information is more accessible—and easier to steal—than ever before.
Long-standing techniques of establishing ourselves—such as paper documents or physical identity cards—do not easily integrate with how we manage our lives online.
Our ability to identify ourselves is critical to our success. It impacts what jobs we obtain, how much money we earn, and how effectively we can manage our health, among other things. The truth is that 3.4 billion people have access to legally recognized identities, but they have difficulty using that identification online.
Reaching Out to a Larger Management Group Through Digital Id
According to Sue McGill of ATB Ventures, a leading tech business working in digital trust, there is a gap between how we live online and the identifying tools we use.
“Digital identification is critical.” It’s the connection that links individuals to their communities and commerce, both locally and worldwide, and it’s important in how people are portrayed online,” McGill said. “Identification is at the centre of every digital interaction—in it’s everything we do.” It influences what options we have and who we can trust on the internet.”
Digital identification will be characterized as a link between the physical forms of identity that we now use—ID cards, badges, and passports—and the digital ways we use to access them. McGill and her team have been working on trust-based technology projects on this front.
The most crucial aspect of digital identity to consider is ownership. Whereas digital companies now own the data you choose to provide with them, digital identity puts the power and ownership back in the hands of the individual. This is a critical step in the right direction since our online image is critical to local and commercial success.
McGill categorizes the many aspects of our digital identities into three categories. Digital identity is made up of all three of these components working together.
The first category contains more personal information to distinguish ourselves, such as our name, age, and fatherland.
The second step of identification is represented by external components such as our medical records, financial accounts, and work history.
The third category includes how we collaborate online, such as the accounts we follow, the sites we like, and the posts we collaborate on.
By employing blockchain knowledge, ATB Ventures established Proof and Oliu, two digital identity solutions. These provide a higher level of security for both the customer and the business than more traditional methods. Consequently, the person’s ownership of identity is firmly back in his or her hands.
Digital identification software allows a person to choose who has access to certain pieces of information while also allowing for a simple method of identifying.
It’s about justice to proudly own our artwork on the internet. When individuals have more control over how their identity is utilized and what level of information they need to provide, they regain control over how they are viewed.
The Search for New Alternatives and Digital Id
Consider it in this light. Employers regularly do social media background checks on new workers to look for red signs. With this in mind, most individuals are aware that they should not publicly discuss topics that they would not want their employer to know about. To defend our options, we already try to limit the data we disclose openly. This same process will be possible with digital identification technology, but more simplified and comprehensive.
Because it should provide a higher level of trust between consumers and the firms with whom they deal, digital identity has the potential to change how we live online. The openness with which these tech initiatives operate may help to foster this belief. Customers may be empowered to offer permission to collect their information if there is no further information harvesting going on behind the scenes.
Our world is becoming more digital. We all desire tools that enable us to participate in the global financial system securely and safely. Digital identity has the potential to level the playing field, but more power in the hands of the individual, and pave the way for each individual to have certified identification at their fingertips.