It will also reduce fraud and identity theft," added Bhalla. "They’ll be able to register for new services more quickly and conveniently – they won’t need to type out their personal information or go through additional authentications. Bhalla says that could mean opening a bank account, accessing e-mail and social media, video streaming or shopping online.įor example, an individual could use their digital identity at work and in their leisure time: at bars to prove they are old enough to enter without having to show a driver’s license revealing their name, address and date of birth enter an office building, instead of a staff pass order prescription medication online create social media profiles or prove credit history in order to open a bank account or rent an apartment. Mastercard says their new partnership with Samsung will provide consumers with a more efficient way to interact with businesses and service providers in the physical and digital worlds. Bhalla says the 10-point model evolved at Mastercard to look at one of the most significant issues in a hyper-connected world- 'h ow do you trust someone you don’t know, can’t see and isn’t present in person?'" It covers 10 critical digital identity 'rights' for the consumer - from inclusion (everyone has a right to a digital identity) to data rights (you have the right to access your data) to choice (you have the right to your identity provider of choice). Mastercard's digital identity model is more akin to a rights manifesto. "It’s about giving the user control over how and when their data is used, allowing them to easily manage and share their information their way with the devices they use every day," said Bhalla. "All of this is happening without the vast majority of consumers being even aware of it."Īccording to Ajay Bhalla, president of cyber & intelligence at Mastercard the collaboration between Mastercard and Samsung builds on their commitment to improving how people manage and use their digital identity which comes on the heels of their model for digital identity which was published in March 2019. They collect data without us being aware, they sell our data without permission, and they limit what we get to see online by censoring our choices based on what "their algorithms" believe we would like to pay for or see," said Srivastava. "We see a number of companies paying lip service to privacy, all the while completely disregarding what their consumers want. Pankaj Srivastava, COO of FigLeaf, said that privacy should be a choice that every digital citizen can exercise when and where they want. The company is currently beta-testing a privacy dashboard which lets consumers control what personal information online sites see. In a statement, the company said they believe people care deeply about protecting their digital identities but lacked effective means.įigLeaf, a Silicon-Valley self-funded startup, is taking on privacy as well. Dashlane, which closed a Series D round for $110 million led by Sequoia Capital, plans to scale their digital identity solutions.
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