Digital identity is a requirement for the next wave of business disruption. With the UN calling for the creation of a legal ID for all people by 2030 as part of its Sustainable Development goals, and the European Union working to make sure every EU citizen and resident has access to a digital ID wallet, it’s no surprise that governments around the world are beginning to make digital identity a priority. And businesses may soon be required to follow suit to integrate with state-level programs.
Unfortunately, our biggest technological ambitions, from personalization to the metaverse, are being held back by old models of identity. This issue is significant for Communications Services Providers (CSPs), with over three quarters (76%) of respondents in our 2023 Tech Vision Report stating that authentication issues are negatively impacting their business performance (for example through abandoned transactions, customer frustration or fraud).
