Tokenized Identity Use Cases
If a physical token (e.g. D.L, Passport) is used to prove identity, it is secure.
When we move to digital tokens, it becomes a little easier to ‘lease’ your identity.
Say you have a digital token that is linked to your identity (this ‘linked’ word is important here..)
Say you rent this token out to someone (or permanently transfer it).
Now, this new owner can prove that they are YOU. And conduct business (and fraud) as YOU.
When you get caught for her exploits, you will be unable to talk about how you LEASED your identity out. That’s because there is no YOU without the token.
Now, this is where the LINK word is important. While the digital token LINKS your identity to a token, the token ISN’T REALLY your identity.
To be continued…
Leave a Reply