Hello!
For Individuals
Identity is integral to a functioning society and economy. Having a proper way to identify ourselves and our possessions enables us to create thriving societies and global markets. At its most basic level, identity is a collection of claims about a person, place or thing. For people, this usually consists of first and last name, date of birth, nationality, and some form of a national identifier such as passport number, social security number (SSN), driving license, etc. These data points are issued by centralized entities (governments) and are stored in centralized databases (central government servers).
Physical forms of identification aren’t widely available to every human for various reasons. Approximately 1.1 billion people worldwide don’t have a way to claim ownership over their identity. This leaves one-seventh of the world’s population in a vulnerable state – unable to vote in elections, own property, open a bank account, or find employment. The inability to attain identification documentation jeopardizes a person’s access to the financial system and in turn, limits their freedom.
Citizens with officially recognized forms of identification continue to lack complete ownership and control over their identities. They have a fragmented online identification experience and unknowingly lose the value that their data generates.
Companies holding their data are subjected to frequent hacks, which forces a lifetime of fraud mitigation for the end-user. Once a social security number is issued and lost, there is little to no recourse.
#quasa
Thank you!
