Privacy is a myth.
But it really shouldn’t be.
The internet wasn’t created with an identity layer, which has led to personal information, credentials and data being strewn all over the web. The organic value of such information has made it an incredibly attractive and useful commodity, both for malicious actors and ‘non-malicious’ actors (that make you agree to 500 page t&cs so they abuse your data with your consent).
A hyper-privacy-aware general public and the damage of constant data breaches are driving us toward a new reality, but what will it hold?
We know the death of the cookie is imminent, a relief we all share, because while we care about tracking we really care more about our experience and the consent popups are incredibly annoying. In addition, cookie tracking drowns out any other flavor of consensual data sharing, limiting the conversation to website visits, conversion tracking and IP address harvesting. There is a much bigger conversation that should be had around how businesses can ethically use data with their customer’s clear consent and trust.
To achieve this though, we need technology capable of facilitating choice of how data is collected, shared and used, while enabling secure access to services we need and want. Technology that is built to protect the privacy of the user, while creating opportunities to improve services and experiences.
This is not the mandate for a single company, but should rather be a collective effort to create technology that is more ethical and - importantly - sustainable, with a focus on the future. A future that we know requires interoperability, connectivity and automation.
Building the foundation of the future with the Open Wallet Foundation
IndyKite is proud to join the Open Wallet Foundation (OWF) as a founding member, along with 37 visionary organizations around the world to drive the change we want to see.
The OWF is a collaborative effort that will develop open source software to support interoperability for a wide range of wallet use cases, including making payments, proving identity, storing validated credentials such as employment, education, financial standing, and entitlements — to enable trust in the digital future.
This will ensure consumers have the freedom to maintain their identity and verifiable credentials and share relevant data when, where, and with whom they choose.
This initiative is contributing to a future that I believe in and am thrilled to join so many like minded companies.
Read more about the OWF here.
To learn more about IndyKite’s approach to privacy and data sharing, join our upcoming Webinar: Are Businesses Utilizing the Full Power of Privacy? on 29 March 2023.
