Digital identity has become the most valuable commodity for human, primarily in online space. But the increasing volumes and variety of available identity information presents additional opportunities as well as challenges.
The digital economy is changing just about every aspect of how we live and work. It is changing the way that identity transactions occur by enabling transactions in the digital world and offers improved functionality for digital users.
There are different categories of digital identity. Though they are all digital form of persons identity but each has many different attributes, for example formal identity (Passport), social media identity (Instagram), and professional identity (LinkedIn). Digital identity information has evolved from something that was tightly contained and controlled with firewalls and access models, to something that is dynamic and person-centric.
Digital identity is unique but the challenge is to ensure that the user claiming the identity is in fact the rightful owner of that identity. But the problem is the current system is too centralized and vulnerable to attacks. And when a hacker does gain control of a centralized server of real person’s identity, then no one can stop the hacker from exploiting that person’s identity for his own benefit.
Criminal will be able to collect enough personal data on the victim to impersonate him to banks, credit card companies and other financial institutions. Then he racks up debt in the victim’s name, collects the cash and disappears.
So what is the safest solution for digital identity? The answer is SAFEIN.
Safein is is an excellent and innovative solution to identity theft protection. By utilising blockchain-based technology, Safein can combat phishing and website fraud as well as personal identity theft.
Safein offers a single sign-on digital wallet enabling users to quickly, safely and conveniently conduct their activities online through a one-stop-shop for all online authentications and payments. With Safein platform, digital customers can easily demonstrate their true identities with no lengthy registrations or verifications, maintain instant access to various online shops and payments as well as control the extent of personal data shared with any service provider.
Safein proposes a mechanism involving a cryptographic token which communicates between users and merchants or online services, by providing access control, authentication or decryption capabilities to any platform without user interaction:
Safein app is beneficial for both businesses/merchants and digital users. Safein has been eager to bring these benefits to all of Android users as well now available on Android Playstore.
