Why Identity is important
Our identity is crucial and central to our everyday lives. It shapes the way we see ourselves, how we interact with others, and our place in society. It is tied to our sense of self-worth and self-esteem. Our identity can be influenced by various factors such as our culture, upbringing, race, gender, sexual orientation, religion, and even our experiences.
The data that supports our identity is sovereign to us and without it, we lose control over our lives. Losing control of this personal information through identity theft and data breaches can leading to profound negative consequences such as financial losses, reputational damage, and emotional distress. Therefore, protecting our identity and the data that supports it, is essential to our wellbeing.
However, data identity systems in the current internet age, rely heavily on trust between users and third-party service providers. These systems have constantly demonstrated profound drawbacks, including a lack of user control over their data, increasing centralisation of power, and escalating vulnerability to cyber-attacks and data breaches. Moreover, these systems were never designed to handle the diverse needs and preferences of the user base. The lack of control coupled with a fragmented and inconsistent user experience supplies a looming need for decentralized and privacy-preserving data identity solutions that prioritise user control, security, and interoperability.
Several emerging technologies offer promising alternatives to traditional identity systems, where identity can be both portable and reusable. These solutions allow users to manage their data independently without relying on third-party intermediaries, ensuring better privacy and security.
In conclusion, while the current data identity systems have served us well in the past, they are no longer suitable for the complex and evolving needs of today. There is now a pressing need for more user-centric identity solutions that prioritise privacy, security, and interoperability.
Paul Timms
CEO
