By using Your ID’s app, the consumer has the following main benefits:
Areas of Practice
Because of eliminating usernames and passwords, access credentials cannot be stolen or lost anymore, providing security and preventing identity fraud.
Your ID’s platform does not track & trace the consumer’s behaviour and has no insight in any of the consumer’s information. Your ID respects their privacy, wherever their identity is represented by Your ID. Your ID functions purely as a “blind intermediary”.
The consumer controls and decides what information to share with what parties, and decides to give approval (or not) to be approached by those parties. By simply ticking (or de-ticking) the corresponding boxes on their account page, the consumer can always adjust these settings and/or revoke consent to share their information, without adjusting these settings on the websites where they have previously registered.
Furthermore, consumers can commercialize their own ID information. The consumer decides who has this information and who benefits from it. In addition, with Your ID the consumer is the one who is rewarded for sharing this information (for example through discounts), thereby creating their own personal centralized loyalty program.
Another benefit is that the consumer could use (for example) their Facebook profile to share information with certain suppliers for specific offers. In this case, Your ID’s platform acts as the intermediary for data sharing about the consumer and their preferences. The consumer can select the type of companies that they are interested in and with who they wish to share their preferences, so only those types of companies can send specific offers on the consumer’s social media.
Your ID eliminates the need to remember usernames and passwords. Furthermore, Your ID’s app can be used virtually everywhere because the open API plugins are available for free to all online platforms, CMS systems and websites.
Therefore, the app can be used from streaming services to cloud access and from online gaming to online shopping. In addition, at a later stage, access could be provided to private properties like cars, boats, and homes, and secure access to all kinds of external locations, such as nightclubs, gyms, and stadiums.