The Importance of Safeguarding Digital Identities
A lot of people these days have access to the internet and spend a greater part of their day online. We literally live in a digitized world where we do online shopping, access various services and perform money transactions by merely using a username and password. But the internet is also a place where a lot of online fraud and cyber-crimes takes place and hence it is crucial for all internet users to safeguard their digital identities.
So what exactly is a digital identity? Digital Identity is basically the sum total of a user’s activity on the internet. The interactions of an individual on different online portals is recorded and stored as a profile. This profile contains information about the website visited; the hours spent there, the transactions made and a lot more data. This digital identity of a person is an advantage to the online businesses. By studying the online trends and behavior of their customers, these businesses take decisions and alter their offers in order to increase their profits. Tracking the online behavior of their customers enables these businesses to secure their website by identifying the users based on their digital identities.
However, in today’s online world gathering of such data can be dangerous for both users and businesses. Online fraudsters and hackers constantly navigate online sites having a lot of traffic such as social media, e- commerce and banking. Unprotected activity and transactions give away vital information to the hackers who can prey upon your accounts, credentials and banking details. They are able to impersonate their victims and gain access to any system which the victim can access. The vulnerable individuals not only suffer financial loss but also the loss of their personal details which compromises their privacy. The businesses are also at risk if the digital identities of its employees get hacked. The theft of vital information attached to digital identities can have devastating consequences. Hence, safeguarding ones digital identity is crucial for both individuals and businesses.
To be able to use the internet services and be safe, it has become mandatory to make our digital identities secure. There are quite a few methods to protect your digital identity from misuse but the easiest and the most foolproof way is to use Digital Escrow which protects people from online hackers and frauds. Digital Escrow is user friendly, ensures transparency &security and offers protection to buyers and sellers who are a part of a transaction.
Digital Escrow receives funds from a buyer, holds it in an independent facility and releases the funds to the seller only when both parties are satisfied. It verifies the identity of both the buyer and seller involved in the transaction by using robust ID and security checks in order to ensure their authenticity. The transaction is initiated only after the identities have been verified and confirmed. Funds are added to the Escrow account held by a third party and released only after all the conditions of the agreement have been met. It has become an indispensable option for many individuals seeking online security.
In the world of speedy digitization, protection against cybercrimes is the need of the hour. Therefore, using Digital Escrow will allow you perform secure transactions and safeguard your digital identities.