Owning your identity

07/12/18

‘Your identity is your most valuable possession. Protect it.’ Elastigirl (The Incredibles)

And because that is true, it is also valuable to others.

We like to think we are in control of our identity. But unfortunately, this is not the case in the digital world. You have little say in your own identity and personal information. You do not control how it is shared, where it is accessed and used. You’re unconsciously leaking your personal data with every online interaction and transaction.

Let’s take back the control.

Imagine you had control over all of the important information you have accumulated throughout your lifetime;  your education certificates, medical records, government-issued identity and so on. You can easily prove who you are when asked, the reviewer can trust the authenticity of the information and more importantly you can take back access to your identity.

That’s the challenge we’ve set ourselves at PwC. Our concept disrupts what has gone before. We are building a product to share and verify these valuable pieces of personal information we call your credentials.

This product is built on the essence of trust and powered by blockchain, which leads to an immutable and tamperproof platform. As an owner you can collect, protect and, when you choose, share your credentials with reviewers. They can then immediately access your information and the shared trust of the platform means the reviewer has no doubts over validity.  

Let’s consider how this would work in reality. You apply for a job, and you’re asked to prove your identity. You’ve got to show you have the qualifications you say you do. You already store your credentials on this platform, issued by the university or trainer in a digital version, which exists forever. There is no doubt over its authenticity. You share access, it’s reviewed, accepted and access is taken back again.

For the reviewer, instead of investing time, money and resources in fact-checking and quality-reviewing, you request access to the credentials and the owner instantly shares validated credentials. You are now in a position to make an offer. Everything moves more quickly and more securely.

Trust in technology is at a crossroads but in our minds there is only one road to take. We must build trust or fail. We are now in a position from a technology, regulatory and human perspective to put this to the test with a credentials product that is the very essence of ownership and trust.

Let’s embrace it!

Chris Clements
Senior Development Manager, PwC Blockchain Innovation

 

Contact us

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Northern Ireland, PwC United Kingdom

Tel: +44 (0)289 024 5454

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Northern Ireland, PwC United Kingdom

Tel: +44 (0)289 041 5393

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Tel: +44 (0)289 024 5454

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