Dunno the space, so maybe I'm horribly wrong, but — it seems to me that a highly effective ID verification system that's highly resistant to fraud and theft (proactively & reactively) would be a great product for a solid technical founder, & all the pieces are prob already extanthttps://twitter.com/webdevMason/status/988780020070989824 …
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Replying to @webdevMason
This and your credit reporting tweet are pretty relevant to me (technical founder of both http://cognitohq.com and http://bloom.co ). Will share a few thoughts in followup tweets
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Replying to @backus @webdevMason
For fraud, people tend to use http://siftscience.com and in-house data science/ML for automatic detection. Prevention falls more to 2FA, detecting unrecognized devices, etc. If you want to get extreme, you link user's phones and then also monitor to see if their phone is ported.
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Replying to @backus @webdevMason
Linking in external devices is also a part of identity. Part of Cognito's goal is to center identity around phone number and not SSN when possible since you can verify someone is in control of their phone. SSN is often still required though due to KYC.
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Replying to @backus @webdevMason
John Backus Retweeted John Backus
Outside of KYC, we'd be better off if everyone could authenticate and prove who they are with private keys. It just comes down to network effects and usability which are held back by each other. Motivation behind this tweet:https://twitter.com/backus/status/987063369730408448 …
John Backus added,
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For KYC relevant data, the industry is bound by availability. In US you can get >90% of people's data depending on customer demographics. Varies by country due to country's infrastructure (US is better data than South America) & privacy laws (France makes it hard to get data)
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Passwords → Signatures
Login with FB → Global login via managed keychain
Verified by Twitter → Verified by public key