Social Security and Identity
Social security numbers are broken.
Why is my underfunded public retirement account number also my badly designed national ID number? The only security protection for SSNs is “keep it a secret,” yet average consumers are expected to disclose SSNs in nearly any transaction larger than the cost of a new TV (for financing purposes). Security by obscurity does not work. Ever. (thank you Wikileaks, QED).
I think there is a startup opportunity here around identity. It might be facebook’s opportunity. I once heard an entrepreneur say that your FB userID# is more important to a consumer than their SSN, and I see his point because it is identity verified by your friends. But, it might be a new startup opportunity and I’d love to see innovation here.
Notes
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langer said:
Yes! Fareed at Conduit/Zynga says exactly this all the time and I think it’s genius.
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