In 2017, mega data breaches brought the issue of digital identity to the forefront, causing significant financial and reputational damage to both businesses and consumers. However, amidst the chaos, there lies a silver lining in the realm of cybersecurity. The events of the past year have shed light on poor practices and bad habits, serving as a wake-up call for individuals and businesses across all sectors.
Moving forward, the focus will shift from reactive measures like anti-virus software and firewalls to more proactive mitigation techniques. Multi-factor authentication and credentials will play a key role in ensuring that only authorized individuals have access to sensitive data and networks.
While Bitcoin has been making headlines with its soaring value, the underlying technology of blockchain is poised to revolutionize digital identity. By creating a secure and transparent ledger for personal data, blockchain can prevent identity theft and give individuals more control over their own information. In 2018, we can expect to see experimental uses of blockchain for digital identity, paving the way for widespread implementation in the future.
The trust between consumers and businesses has been eroding in the wake of high-profile data breaches like the one suffered by Equifax. As society becomes more digitally savvy, there will be a greater demand for transparency and accountability from companies that handle personal data. With the implementation of GDPR and increased penalties for data breaches, the focus on digital identity and security will only intensify in the coming year.
Overall, 2018 promises to be a year of transition and transformation in the realm of digital identity. As businesses and individuals alike adapt to the changing landscape of cybersecurity, the importance of safeguarding personal information and maintaining trust will take center stage. Embracing new technologies like blockchain and prioritizing proactive security measures will be crucial in safeguarding digital identities in the years to come.