Technology news site, Betakit, recently reported an advancement in the business of streamlining — online identity streamlining, that is — with the recent $7 million investment in the digital identity service, OneID.
As OneID CEO Alex Doll told Betakit, “Many experts consider online identity to be the most important problem to be solved on the Internet today. OneID is here to introduce a brand new service for managing user identity both online and offline.”
The company essentially offers a high-tech alternative to that post-it note stuck by your computer listing all of your online passwords. By saving all of a user’s information, including account passwords, shipping information and credit card payment details, a OneID account is literally comprised of your entire “digital identity,” as the company refers to it. Once enabled, a user can sign-in with their OneID account to expedite the log-in and check-out processes.
OneID accounts can be device specific and accessed by a private PIN number. All financial information is encrypted and can only be decrypted upon request.
While the convenience afforded by an all-in-one identity account is attractive, the fact remains that putting so much information in one place is a little unsettling for some online users. One of the company’s goals with the new venture capital funding will be to convince consumers that their service is secure — and safer than their competitors.
As online passwords continue to rule our Internate interactions, the challenge of monitoring their security and the business of managing that security will continue to evolve. In the meantime, it’s wise to be aware of how you can protect yourself from online identity theft and decide which devices are the best for ensuring that protection.