BYOID, GDPR & More: 2018 Predictions for Identity Management

Last year was flooded with headlining news of data breaches, with organizations across the globe falling victim to massive breaches. The overwhelming frustration among consumers for the lack of control over their own information has left a void for a solution – here enters blockchain technology. Blockchain technology, as an immutable ledger, introduces a concept that was unable to be accomplished ahead of its creation and mass adoption. Identity can now be verified and exchanged in a way similar to bitcoin, eliminating the need for companies to keep large amounts of data on their customers, clients or users, finally giving them control over the data they share and the access companies have to their identifying information.

 

BYOID

BYOID

 

In 2018, we can expect to see exponential growth in blockchain-based identity management systems (IMSs), driving the concept of “Bring Your Own Identity” or BYOID. BYOID allows users to keep all of their personally identifiable information (PII) on their own device, such as a mobile device, and use the blockchain to verify that information for a third party, such as a bank. No PII is ever stored on the blockchain.

 

 

In addition to users gaining constant and direct control over their information, BYOID is valuable because the information becomes virtually un-hackable.

 

  • Verification certificates are the only thing stored on the blockchain, while PII is locked under a private key on the user’s device.
  • Blockchain itself is a highly distributed ledger, as opposed to a central database, so records cannot be rewritten or changed.

 

Consumer-facing products are not the only industry that will experience growth in IMSs. Many enterprises will also turn to blockchain-based IMSs for employee identity management, like ShoBadge, as it provides a solution that protects against data breaches of a company’s system.

 

GDPR

GDPR deadline May 25

Finally, with the European Union’s General Data Protection Regulation (GDPR) taking

 

effect in May, we can expect to see many organizations seeking GDPR-compliant solutions for data handling. The legislation not only affects companies operating within the European Union, but all companies processing or holding the personal data of persons residing in the EU, no matter where they are located or where its data is processed. ShoCard’s solutions, founded on the concept of BYOID, are equipped and ready to help your company comply with GDPR, whether you are looking to protect customers, prospects, employees or contractors.

 

 

For more information on ShoCard and ShoBadge,

 

Armin Ebrahimi is Founder and CEO of ShoCard, a digital identity verification system that protects consumer privacy through patented use of mobile devices and the blockchain. An industry veteran, he brings more than 30 years of experience in scalable platforms, online services, mobile-development and digital advertising to the ShoCard team.

Before founding ShoCard, Armin was the CEO of Advertising.com Dynamic Retargeting, an AOL company. Prior to filling this role, he was Senior Vice President of Platform Engineering at Yahoo, with responsibility for Yahoo’s registration and anti-fraud platform services. He also built Yahoo’s original Display Advertising platform that served more than 20 billion transactions a day. Armin founded and was CEO of TRIicon Solutions, acquired by Tandem Computers.

“Checkmate, Hackers!”– BYOID “Bring Your Own Identity” Puts YOU in Control of Your Personal Data

And why you should be asking service providers for BYOID

When a friend invites you to a party and you see it’s BYOB, you know it’s probably going to be a casual, easy-going kind of event.  Whether you think it’s “bring your own bottle” or “bring your own booze” or “bring your own beer” doesn’t matter that much. What does matter is that you know you get to choose what you drink. You’re in control.  And if you do it your way, then maybe, just maybe…no headaches and no hangovers.

 

But have you heard of BYOID?  Or “Bring Your Own Identity?”

BYOID

BYOID is easy, too.  And puts you in control. When a service provider says “BYOID,” what they mean is:  

  • your identity stays encrypted and secure on your mobile device and not on their servers
  • you get to choose what personal information you share with them
  • when you need to access a BYOID service provider, there are no passwords to remember
  • none of your personal info gets stored on third-party databases for party-poopers (as in hackers) to steal and exploit.

As the demand for BYOID spreads, more and more people will require services to allow them to bring their own ID.  BYOID will become the norm (and a hacker’s nightmare). ShoCard is leading the pack of mobile identity providers with its blockchain-based patented solution. You may not be asked to BYOID to the next super bowl party, but BYOID will take away the “headaches and hangovers” of your data being stolen from service providers.

 

Read more about BYOID…

Ask your service providers if they allow you to BYOID. If not, tell them how they can with ShoCard by sharing these links:

 

Armin Ebrahimi is Founder and CEO of ShoCard, a digital identity verification system that protects consumer privacy through patented use of mobile devices and the blockchain. An industry veteran, he brings more than 30 years of experience in scalable platforms, online services, mobile-development and digital advertising to the ShoCard team.

Before founding ShoCard, Armin was the CEO of Advertising.com Dynamic Retargeting, an AOL company. Prior to filling this role, he was Senior Vice President of Platform Engineering at Yahoo, with responsibility for Yahoo’s registration and anti-fraud platform services. He also built Yahoo’s original Display Advertising platform that served more than 20 billion transactions a day. Armin founded and was CEO of TRIicon Solutions, acquired by Tandem Computers.

Are you ready for GDPR? EU Could Fine U.S. Companies for Not Complying

ShoCard gives users control of their data

On May 25, 2018, the EU’s GDPR (General Data Protection Regulation) takes effect. This regulation requires businesses (both inside and outside the EU) to change the way they store personally identifiable information (PII) on EU individuals.

 

 

This regulation applies to ANY company processing and holding the personal data of persons residing in the European Union, no matter where the company is located or where its data is processed. In addition, these rules apply to both controllers and processors; meaning ‘clouds’ are not exempt. This is especially relevant since the EU will issue regular audits and tough fines of €20 million or 4 percent of global annual revenue to companies that don’t comply.

 

The Data

GDPR compliance encompasses any information related to a person, including data you might not expect.

Name

Email

Bank Info

Photo

Location

Cookies

Biometric Data
Medical/Genetic Data
RFID Tags

Social Media Activity

Demographic Data

IP Address

GDPR is designed to give prospects, customers, contractors, employees, etc. more power over their data and less power to the organizations that collect and use such data for any purpose.

 

Our Identity Solutions

ShoCard and ShoBadge Identity Management (IM) solutions do exactly that. Our turnkey blockchain-based IM platform gives users control over their data and helps your company toward GDPR compliance by allowing you to:

 

  • Authenticate your users without storing their PII data. Say goodbye to usernames and passwords; they’re not required!
  • Reduce requests to access, erase, and correct user data
  • Obtain definitive proof of consent for permission-based user data

 

With our solutions, your users’ mobile devices are the only systems that store the authentication PII data, including their biometrics, and they’re locked under a private key. We use the blockchain only to verify a user’s claim of their identity; and do so by populating the blockchain with non-PII, verification signatures. As a result, your users’ data is highly secure.

 

Instead of trying to stay one step ahead of hackers by incorporating more factors into your authentication, checkmate them with ShoCard by removing the need for usernames and passwords altogether.

 

More on how ShoCard can help with GDPR

 

Request a demo of ShoCard products

 

Follow us on Twitter: @getShoCard

Armin Ebrahimi is Founder and CEO of ShoCard, a digital identity verification system that protects consumer privacy through patented use of mobile devices and the blockchain. An industry veteran, he brings more than 30 years of experience in scalable platforms, online services, mobile-development and digital advertising to the ShoCard team.

Before founding ShoCard, Armin was the CEO of Advertising.com Dynamic Retargeting, an AOL company. Prior to filling this role, he was Senior Vice President of Platform Engineering at Yahoo, with responsibility for Yahoo’s registration and anti-fraud platform services. He also built Yahoo’s original Display Advertising platform that served more than 20 billion transactions a day. Armin founded and was CEO of TRIicon Solutions, acquired by Tandem Computers.