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Knowing who you are doing business with online has been and still is a major challenge. But why do you really need to know, and what are the pitfalls? The presentation will look at some of the important challenges of identifying, validating and authenticating people online.
Inconvenient and weak digital identity affects our digital economy. Adding more band-aids to the legacy knowledge-based digital identity infrastructure isn’t effective anymore.
The FIDO Alliance introduced standards for possession backed authentication which are now supported by all major platforms. Additionally, the Alliance is developing new standards for document based ID verification and passwordless device onboarding.
With standardized approaches supported by the ecosystem, we have all ingredients for a wholesale upgrade to the “fabric of identity” in our hands. It is on us to use them.
Cybercrime, often driven by fraud, continues to plague organizations leading to data breaches and loss of revenue. Account takeovers and account opening fraud contribute to this. But as organizations transition to heavier dependence on digital identities, how do we deal with the rising and changing stakes?
In this session, Anne Bailey will discuss the intersection of digital identity and fraud prevention: identity verification. Listen in to hear how identity verification can be integrated into digital identity management as a preventative measure against fraud.
The presentation will give context on the EU commission announcement of European Digital Wallets and explains what eIDAS 2.0 defines for member states when it comes to digital identities. SSI can be a potential solution, but currently does not meet the eIDAS 2.0 regulation fully. We will explain why and give an idea on how to evolve SSI and create an ecosystem that is compliant with eIDAS 2.0.
It is no surprise that decentralization is key player in blockchain's role in disrupting every industry requiring trust. But how to do create trust around decentralised solutions? Creating 'Decentralised Trust' is how we solve this. Through Decentralised Name Systems, Decentralised Certificates, Decentralised Bots and more can we enable decentralised trust around decentralised solutions. Such solutions are key in embracing a truly digital society where this 'trustlessness' is key in the greater security, efficiency and trust of the public sector and all industries requiring trust.