By: Aaron Applbaum
Director of Investments
Having a layer of reliable third-party identity authentication is becoming increasingly necessary. An individual’s traditional (human-physical) identity is becoming irreversibly connected to their digital identity in all the disparate corners of cyberspace. A solution that can unify, aggregate and build a reliable identity in cyberspace will curb one of the largest attack vectors hackers use to perpetrate cybercrime—credential theft and misuse.
The current identity management solutions have built infrastructures that manage credentials, and do a good job of creating single sign on experiences, but digital identity is not a one size fits all framework. Unlike a driver’s license, a digital identity will look different, and be composed of different inputs for different individuals (for example one person banks, with JP Morgan, another with BoA).
Strategic Cyber Ventures (SCV) is excited to invest in a company that tackles the identity management and proofing problem as a tailored and highly customizable service. What differentiates ID DataWeb is creating an online identity that takes verification from multiple,
desperate sources simultaneously, so that an identity can be thoroughly verified, while not uniform. ID DataWeb becomes a hub where bespoken verification solutions are built and the implications of this are far-reaching. These bespoken identity solutions, when applied to an enterprise, gives the security team the ability to toggle-up or toggle down identification, and access requirements for users in the enterprise in real time. For example, the authentication requirements for an employee sitting at her desk at noon on a Tuesday might be much lower than what would be required to log on late at night while traveling. This ability to provide adaptive authentication heavily curtails a major vector hackers use to penetrate a network: credential theft.
ID DataWeb facilitates an ecosystem in which identity providers, attribute providers, relying parties and users can exchange and re-use credentials, making identity verification dynamic. What forms of credentials are used for a user – is dynamic, when those credentials are needed for access – is dynamic— and as a result, digital identity becomes simultaneous, more rigorous, and more fluid. The ID DataWeb solution, while bolstering and hardening security postures across cyberspace, also promotes trust on a network and privacy for the users. IDW, as we affectionately call it, is changing the identity landscape, making it a highly tailored, dynamic, and safe ecosystem. SCV is glad to be a part of this dynamic identity verification revolution!