Identity security: ObjectTech CEO named as top tech influencer
Paul Ferris is listed in the 2018 top 100 global influencers of identity for his work in making identity checks more secure, giving people more control.
ObjectTech chief executive, Paul Ferris (right), signs an agreement with Ali Ibrahim, Deputy Director General of Dubai Economy.
The 2018 top 100 influencers in identity
The founder and chief executive of ObjectTech, Paul Ferris, appears in this year’s list alongside global names such as Allen Zhang, the creator of WeChat. Only 12 of the people included in the list are from the UK.
The list is compiled by One World Identity, an independent identity research company focused on cyber security, digital commerce and risk management. The list includes identity pioneers and innovators, ranging from individual entrepreneurs to members of large organisations.
A secure solution for the 21st century
People are currently facing an unprecedented number of requests from organisations asking to use their identity data - from banking, to travel, to ordering a coffee. The challenge posed by German Chancellor Angela Merkel at Davos in January 2018 was: “Data is the raw material of the 21st century, the question is who owns it?”.
However, ObjectTech is taking a different approach by helping people to control their own identity in a process known as Self-Sovereign Identity (SSID).
SSID is a process that enables people and businesses to store their identity data on their own remote platform - known as a ‘locker’, rather than in a centralised database. ObjectTech has designed and developed an application programme interface (API) which allows existing systems to integrate with SSID technology through a simple interface. This allows people to provide proof of their identity without the need to share actual data.
Benefits for ID-dependent businesses
Paul Ferris said:
Imagine getting on a plane - anywhere in the world - and getting off again, anywhere in the world, and each time you disembark, there is no passport control – no queues, no hassle, no delays. The border authorities will already know who boarded the aircraft. And not just you - anyone who is using our new self-sovereign identity technology could do the same.
This technology could help you open and operate a bank account more easily, with faster and more accurate identity checks. As well as saving you time, this would also help banks and other businesses reduce costs – just imagine the benefits this could bring to any industry or public service.
Like a catalyst, we are converting the operation of identity into a global system, fit for the 21st century. We’ve solved the problem of identity management, not by changing existing data infrastructures, but rather through fundamentally changing the way they work.
New export markets opening up
ObjectTech’s SSID technology is attracting interest from several major global organisations. The company is working on the Dubai government’s new contactless payments system and is exploring opportunities with other airport hubs around the world.
Ali Ibrahim, Deputy Director General of Dubai Economy, said:
A digital currency has advantages in faster processing, improved delivery time, and less complexity and cost. It will change the way people live and do business in Dubai and mark a giant leap for the city in harnessing game-changing innovations to improve the ease of business and quality of life. We are delighted to have ObjectTech as our partner in this initiative.
Leading the world in identity security
Ferris is advising the World Economic Forum on their Trusted Traveller Program, part of the system initiative on shaping the future of mobility. He is also a global convener for the International Organization for Standardization (ISO) standard on identity in blockchain.