Passwords Won't Secure Your Identity. Here's What Will. | Entrepreneur

"Our lives have migrated to a virtual world to the point where our emails have become an entry point to our identity. Medical records, employment history, education, world views and all that comes to mind, which pertains to who we are as people, likely have some form of digital footprint that can be traced back to us. While this can translate to seamless convenience, whether personalized recommendations or quick product deliveries, there remains a risk of exposure that threat actors constantly exploit."

"The tech titans who handle our data and boast a robust security infrastructure are the same ones who lost control of our data. With 16 billion Apple, Facebook, Google and other passwords leaked, a large question mark looms over the reliability of traditional security systems. The centralized databases and login processes of yesteryear are simply unable to keep up with today's increasingly sophisticated cyber threats. Our passwords and two-factor authentication fall short in securing our digital identities."

"Digitization has become deeply entrenched in the fabric of how we operate as a society on a global scale, with 5.56 billion people online today and 402.74 million terabytes of data generated on a daily basis. The dizzying numbers demonstrate the breakneck speed with which every aspect of our lives has taken a virtual shape, and with it, the proliferation of the conversation about how we secure the digital world we have created."

Digital lives now place emails as identity entry points, and personal information such as medical records, employment history, education, and worldviews have traceable digital footprints. Convenience from personalization and fast deliveries coexists with constant exposure risk exploited by threat actors. Major technology companies have experienced massive password leaks, highlighting weaknesses in centralized databases and traditional login systems. Passwords and two-factor authentication no longer provide sufficient protection against sophisticated cyber threats. Global digitization involves 5.56 billion online users and 402.74 million terabytes generated daily, and projected cybercrime costs could reach $1.82 trillion by 2028, making secure infrastructure an urgent priority.

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