Please find a guestblog by Sonia Miles-Khan. She is a FinTech and Innovation practitioner and I am excited to share her thoughts on this blog.
Where is PayPal for my identity?
Or more broadly “Where is my digital safe deposit box/identity bank?” my “filing cabinet in the sky” so to speak…..
Source image: www.buildthesong.net
Why do we need it?
In society’s movement toward faceless and paperless digital transactions in all walks of commerce and life, the need to verify who we are and authorise transactions is increasing. For example, everyday many of us pay for things online. In the past we had to trust payment gateways with our credit card details and keep these details on us at all times. We had to fill out pesky direct debt slips and sign them and fax them off to administration facilities. However now we don’t need to do that. PayPal is the secure payment gateway that we trust. We enter our bank and card details and secure them with an alpha-numeric password in our PayPal account.
Similarly “proving” who we are has evolved as a laborious task. While 100 years ago a birth certificate and or identity card proved who we were, now we have a complex web of proving our identities; proof of age cards, birth certificates, drivers licences, passports, visas, passwords, PIN numbers, Tax File Numbers, fingerprints, CAPTCHAs…
Not only do we need to prove who we are to obtain an ID, we also need to continue to use ID after ID, to prove who we are and to multiple organisations.
The administration alone of maintaining current identification status quos is laborious. Adding to this the widening ages and literacy levels of those transacting online and the need for simple identification solutions becomes very apparent. Continue reading