Recently, the vice chairperson of MasterCard stated that our digital identity would play a crucial role in the near future. The pace at which we are moving towards Internet of Things (IoT) is the key cause behind it. She also said that the inclusion of everyone would lead to Internet of Everyone.
At the Mobile World Congress in Barcelona, Ann Cairns said that the focus must be on the way humans will get involved. Human inclusion will provide information to their digital identity. She said the need is to find safe and secure ways to gather data. However, different sources need to be searched and then recombined to create digital identity. With this, a person can operate anywhere across the globe. Nevertheless, one can tokenize the data, as the token will only move and create the identity for the person.
Digital Identity – A Smarter Move for Global Connectivity
A large volume of data generation is happening today. As a result, data includes medical, financial, personal, and other relevant information that raises concerns over privacy.
Internet of things is merging virtual and physical worlds and is creating a smarter environment, as described by the European Union (EU). Lately, the EU has also introduced tougher regulations through General Data Protection Regulations (GDPR). Every organization operating in Europe or has clients in the continent have to comply with this regulation. The regulation aims at securing individuals’ identity in today’s smarter and digitally connected world.