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COINTURK FINANCE > Business > Biden Administration to Support Digital Identity Initiative
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Biden Administration to Support Digital Identity Initiative

Overview

  • Biden administration to support digital identity initiative.

  • Centralized systems are vulnerable to security breaches.

  • Blockchain technology offers a secure alternative.

COINTURK FINANCE
COINTURK FINANCE 9 months ago
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The Better Identity Coalition has called on President Joe Biden to draft and sign an executive order aimed at enhancing digital identity. The coalition highlighted the need for tools to protect Americans from identity theft, assistance for victims, a government-wide approach to identity validation services, and the development of a Digital Identity Framework by the National Institute of Standards and Technology (NIST). The letter, supported by various organizations, underscores the urgency of addressing digital identity issues in the U.S.

Contents
Identification in the Digital WorldThe Need for Decentralization

NIST released updated guidelines for digital identification six months after the coalition’s letter. These guidelines aim to combat online crime and promote privacy and usability. A second public draft is currently available for review. This step is crucial as the Biden administration prepares to strongly advocate for digital identity documents through an executive order. The order aims to address fraudulent social program claims but could have broader implications, as seen in other countries with similar initiatives.

Identification in the Digital World

The Biden administration’s push for digital identification aligns with efforts to curb fraud in government programs. Countries like Spain and Australia have implemented digital ID systems with varying success. Spain’s “porn passport” and Australia’s digital ID system demonstrate the potential benefits and challenges of such initiatives. Critics point out the security risks associated with centralized repositories of information.

Centralized systems are prone to security breaches, as evident in the case of AU10TIX, where administrator credentials were exposed online, compromising personal information. Experts argue that centralized repositories are vulnerable to exploitation, regardless of encryption or security measures. Decentralized ID verification using blockchain technology offers a potential solution by distributing data across multiple secure locations.

The Need for Decentralization

Blockchain technology presents a promising alternative for secure digital identity verification. Unlike centralized systems, blockchain distributes data, making it harder for hackers to access complete datasets. Governments need to incorporate this technology to enhance security and protect citizen information from unauthorized access.

Public demand for accountability, transparency, and privacy in digital identity initiatives is crucial. Over 70 percent of Americans are concerned about government data usage, emphasizing the need for secure and trustworthy systems. Experts recommend developing a decentralized, verifiable ID system built on blockchain technology to ensure data protection and prevent identity theft.

The NIST guidelines are currently open for public review, providing an opportunity for citizens to advocate for a decentralized approach. Implementing a secure digital ID system from the start is essential to avoid future complications. Embracing new technology like blockchain can safeguard personal identities and prevent data breaches.

Although the proposed systems may not immediately face security breaches, building a robust and secure digital ID framework from the outset is crucial. Taking the right steps now can ensure the protection of unique identities and prevent potential exploitation.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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