Monetization of Personal Digital Identity Information
Monetization of personal identity information has become a major component of modern business models, contributing to dramatic innovations in the collection, aggregation, and use of personal information. This phenomenon is commonplace given that parties to business transactions and social interactions usually rely on the issue of claims and disclosure of unique attributes and credentials for proof and verification of identity. However, the heightened societal information privacy concerns and the diminishing level of trust between transacting parties make such attempts to monetize personal information a very risky endeavor. This chapter examines the major technological and regulatory imperatives in the monetization of personal identity information. The resulting monetization model provides an important source of reference for effective monetization of personal information.