The paradox of online identity verification

As society becomes increasingly intertwined with the virtual world, the need for secure and authentic online identity verification is paramount. This thesis project aims to speculate on what the next personal identifier will be, and how it could be able to support the evolving needs of a society deeply immersed in the virtual realm, while ensuring privacy and safety for its users. As well as the compliance and authenticity requirements set by regulators and executed by governmental bodies or corporations to provide individuals with services or products. The project explores the pillars that underpin the current system, using Financial Institutions as an entry point into the subject.

It proposes kriD as a tool for an alternative architecture that prioritizes privacy,transparency, simplicity through the decluttering of touch points, and the relocation of the data storage and ownership for safekeeping. KriD is a device that works in proximity with its user’s body and trusted devices. The objective is to streamline a system that has become overwhelmingly complex, surpassing the grasp of the human brain for everyday tasks.

By analyzing the requirements and procedures of regulatory verification and considering a collection of current technologies that address user needs, this research presents a 'what-if' scenario as a potential future solution. The findings of this thesis project contribute to the ongoing discourse to the online identity verification, and it offers insights into a possible future for secure and efficient virtual identification systems where trusting strangers for sensitive transactions would no longer be a potential source of anxiety.