In the digital world individuals, organisations, and increasingly devices, have one or even multiple identities in cyberspace. The opportunities and challenges this presents the tech industry are unique, with multiple potential applications, touching on areas ranging from cybersecurity to privacy, payments, online commerce, financial services delivery and beyond.
The collective digital identity sector will grow by 14% annually to be worth €1 trillion by 2020.
It is a trend that is only just starting.
The average individual has in the region of 50 onlineaccounts yet typically uses a variation of 5 passwords. While our digital lives have proliferated, the technology to keep our identities safe has not kept pace.
A succession of high profile data breaches have proven that the authentication used to protect everything from our personal finances to our credit card detail is inherently weak. Yet invasive, interruptive forms of authentication are not the answer. Tomorrow’s digital economy demands trusted, fail-proof technology that gets ‘out of the way’ to enable commerce to thrive.