Posted on 12/04/2018 5:39:09 PM PST by MarchonDC09122009
Mastercard, Microsoft to Advance Digital Identity Innovations
https://newsroom.mastercard.com/press-releases/mastercard-microsoft-join-forces-to-advance-digital-identity-innovations/#__prclt=IarCgTyK
Mastercard, Microsoft Join Forces to Advance Digital Identity Innovations
PURCHASE, N.Y. and REDMOND, Wash. – December 3, 2018 – Mastercard (NYSE: MA) and Microsoft (Nasdaq “MSFT” @microsoft) today announced a strategic collaboration to improve how people manage and use their digital identity.
Currently, verifying your identity online is still dependent on physical or digital proof managed by a central party, whether it’s your passport number, your proof of address, driver’s license, user credentials or other means.
This dependence places a huge burden on individuals, who have to successfully remember hundreds of passwords for various identities and are increasingly being subjected to more complexity in proving their identity and managing their data. Working together, Mastercard and Microsoft aim to give people a secure, instant way to verify their digital identity with whomever they want, whenever they want.
The answer to these challenges is a service that would allow individuals to enter, control and share their identity data their way–on the devices they use every day.
That’s Mastercard’s intention, working closely with players like Microsoft.
“Today’s digital identity landscape is patchy, inconsistent and what works in one country often won’t work in another.
We have an opportunity to establish a system that puts people first, giving them control of their identity data and where it is used,” says Ajay Bhalla, president, cyber and intelligence solutions, Mastercard.
“Working with Microsoft brings us one step closer to making a globally interoperable digital identity service a reality, and we look forward to sharing more very soon.”
Access to a universally-recognized digital identity could unlock new and enhanced experiences for people as they interact with businesses, service providers and their community online, including:
Financial Services: Improve and speed the applicant identification process for establishing a new bank account, loan or payment service accountCommerce:
Enable a more personalized and efficient shopping experience online and in stores, regardless of the payment type, device or service provider.
Government Services: Simplify interactions with government agencies and services – such as filing taxes, applying for passports or securing support payments (e.g., Social Security)
Digital Services: Streamline and provide easier use of email, social media, movie/music streaming services, and rideshare platforms
“Digital identity is a cornerstone of how people live, work and play every day,” said Joy Chik, corporate vice president, Identity, Microsoft.
“We believe people should be in control of their digital identity and data, and we’re thrilled to first work with Mastercard to bring new decentralized identity innovations to life.”
This digital identity initiative could also help solve for common challenges:
Identity Inclusion: More than 1 billion people, a majority of them women, children and refugees, are not officially recognized; a digital identity can improve their access to health, financial and social services.
Identity Verification: A single, reusable digital identity can help people interact with a merchant, bank, government agency and countless other digital service providers with greater integrity, lower cost and with less friction.
Fraud Prevention: A single digital identity can help reduce payments fraud and identity theft of various forms.
This initiative will serve as the foundation for new Mastercard services powered by Microsoft Azure and built in collaboration with leaders in the banking, mobile network operator and government communities.
Microsoft and Mastercard are bringing together their respective strengths – Microsoft’s expertise in identity technology and Mastercard’s expertise in securely orchestrating digital interactions in a complex multi-stakeholder ecosystem.
Stay tuned over the next few months for further development announcements.
One worlder, the Bush clan.
Thank You.
I think somebody is working on this or really likes the idea.
NOT FOR ME !!!
Yes, I’ve heard similiar future of data solving societal problems TED-talk visionairies who gushed about need for universal digital identitiers.
BTW, you have an Excellent FRhome page.
Yep. There’s still a number of people that don’t understand, at that time, it will be (Gk.) “charagma” - a tattoo, basically.
tattoo? I don’t have one and don’t intend to ever have one.
I hear ya.
Dr. Ed Hindson makes a point of emphasizing the Greek here.
Thank you. We owe Greeks some respect from ancient times and for many thoughtful concepts.
Recent Greek history has been less dynamic. Although there are industries, especially shipping where they have excelled.
Greece itself is hurting now. Especially with all this Turkish crap.
Dr. Ed Hindson seems like a great guy.
I was fortunate enough to meet him a couple of times. He even prayed with me with all that was going on.
I saw him 3 times over a weekend. The 2nd time didn’t get to speak to him but he saw me come in. (He obviously recognized me from the day before).
I’m not trained to pursue what you do. But I do appreciate the great people I’ve know in my life that we have met and got to know. In many fields.
So many of them. These meetings and connections are not by chance. Many people would not even recognize them if they saw them. Not everyone sees it. They simply don’t get it.
But it is ours to observe and to use the things you learn to help others. Always be on the side of building things, never on the side of frustrating or tearing things down.
Always being on the side of being part of solutions, never on the side of causing problems.
Oh I make plenty of trouble, LOL.
Not always on purpose that is.
Seriously, I was fortunate that Ed was coming nearby. With another couple of folks, it was quite the timing. One, especially so.
Sometimes, just telling people the truth and the cold hard facts of a situation is trouble.
I’ve learned that the hard way. But I stick to it.
Yes. Understand.
I worked for a company based near Kansas City for a number of years. It was privately held, owners were very good businessmen and good people.
Not sure they ever really got used to what I see as normal, a direct honest response to a question.
Spent many years with them. They had no complaints on what I did and they were honest with me. But the culture is different there.
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