|Taking on digital identity
So much of our life is now online that the use of digital IDs has become as necessary as Wifi. According to McKinsey
, if full digital ID coverage were to be extended over the next ten years in seven key countries, its economic value could reach 13 percent of GDP, half of which could be enjoyed by individuals.
The personal data that make up our digital IDs, combined with the insight into preferences and priorities revealed by our activities online, can be used to derive our economic identity. But consider what could happen if this economic identity becomes a more important verifier of who we are than our actual identity, when it becomes an important economic asset controlled by others.
It's not a huge stretch to think about our current issues with personal data from the perspective of digital ID and its economic value. But how about taking this a step further, by considering ourselves as Homo Datumicus
aka Data man: individuals as data subjects, but also empowered to have the same level of computational capabilities as large corporations to transact with our data so we can enjoy the economic value of our digital identities.
As we close 2019 and move into the new year and decade, we'll be having more conversations in the digital identity space starting with this Medium blogpost
, derived from this HATLAB research working paper
. Let us know what you think.
Yours in HAT,