An open market in digital identity and digital identity attributes to be created.
Mvine Ltd announces today its prediction for growth in the market for a rapidly emerging technology area known as federated digital identity. Mvine predicts hyper scale use of digital identity attributes in year three, according to its report called ‘Digital Identity: The economics just got interesting - An Executive Briefing for Relying Parties’, published today.
The report asserts that the cost / benefit analysis must show that digital identity comes in at less than or equal to the current overhead that businesses pay today for largely manual processing, document checking and exceptions management.
Frank Joshi, Director at Mvine, said, “A competitive open market for digital identity and digital attributes is an inevitability; first movers will be able to realise advantages from new revenue streams this marketplace creates.”
“The future of online transactions will be based on the reuse of trusted digital identities. We believe growing the digital economy relies on digital identity and that growing the adoption of digital identity relies on user consent,” he said.
A copy of the report is available on request from Mvine.
Notes for Editors
Mvine authors and sells next generation digital platforms that power the digital economy.