Identity will be the cornerstone of the next generation of the web and new technologies are changing the way identity is understood and managed in both the public and corporate arenas.
The intersection of biometrics, machine learning and blockchain offer a new, flexible identity layer to support homo numericus and all manner of pseudonymous transactions to be found on the next generation of the internet.
Allowing identity and reputation to become interoperable means replacing the fragmentation that exists today with a self-sovereign digital identity.
This would benefit banks and financial institutions by saving them the time and cost of repeatedly performing know your customer (KYC) checks.
Streamlining KYC within a business to business context also will deliver vast savings. More robust identity management technology also arms us in the running battle against the fraud industry that has evolved online.