I found this post rather interesting – about why identity matters. Especially looking at the wild-wild-west-cowboy-anarchy several areas of the web are (still) in. Looking forward this is needed – identity, authenticity, KYC, etc. Otherwise the “Metaverse” will be a place with limited trust and no peace of mind, which would certainly hamper a scaled mass adoption.
“Amid the hype and potential, there’s a lot of work to be done to establish the fundamentals that will make the Metaverse a safe experience for all. In particular, access must be underpinned by verified identities. Without verified identities in the Metaverse, anonymous bots can wreak havoc. For businesses, business people and celebrities, impersonators can cause damage to their brand and reputation, not to mention the new opportunities it creates for scammers and fraudsters. Ensuring trusted identity will therefore be fundamental to the safety and success of the Metaverse.”
Got interested? Follow me here in order to read the full post from Matt Peake on onfido.
“With technological change accelerating, companies need to make four fundamental shifts.”
Four interconnected tech trends shaping the future of IT
Innovation at the edge
What incentives will best encourage engineers and domain experts to develop, maintain, and tap into their networks?
What processes are in place for tracking and managing VC activity at the edge?
What capabilities do you need to identify innovation opportunities and “industrialize” the best ones so they can be shared across the organization?
A perpetual-learning culture
Do you have a list of the most important skills your business needs?
What is the minimum level of learning needed for advanced users of analytics and manipulators of data?
How do you track what people are learning and whether that learning is effective and translating into better performance?
IT as a service
Do you have a vision for how the role of the IT organization will change to enable democratization of technology?
How will you elevate the role of the technology product manager, and do you have a road map for developing that role?
What systems will you need to put in place to manage and track the use, reuse, and performance of code?
Expanded trust boundaries
Who is responsible for the enterprise-wide trust and risk landscape?
How have you integrated your efforts around customer trust with overall cybersecurity processes?
What privacy, trust, and security processes are in place to manage the entire life cycle of your data?
It is inevitable that the pace of technological change will continue to accelerate. The successful technology leader of the future will not simply need to adopt new technologies but to build capabilities to absorb continuous change and make it a source of competitive advantage.”
Much more information and details can be found in the original post at McKinsey here.
“The current model of universal retail banking is unsustainable over the long term. To thrive, banks need to reinvent themselves, focusing on businesses where they can achieve and extend market leadership in the new digital world.”
“Today’s retail banking market is vastly different in shape and structure from the old environment, in which the traditional model of universal banking was economically sound. In the new world, the winning banks will be those that carefully choose the businesses in which they can lead and commit to building a value proposition, core technology, and operating model fit to win on the digital battlefield.”
Got interested? Then read the original and complete post on McKinsey.com here.
“Winners are already emerging in the race to provide banking and payments infrastructure for embedded finance, but incumbents and new entrants still have time to claim a share of this dynamic market.”
“Winners are already emerging among the financial institutions that manufacture embedded finance. However, tech-savvy banks, fintechs, and payments companies that are willing to invest and partner still have time to claim their share of this fast-growing market.”
Follow this link to read the the original and complete insightful post by Andy Dresner, Albion Murati, Brian Pike, and Jonathan Zell at McKinsey.