9K/ Show me the MONEY biz models cont’d / James + Zack

Session 9K

Show Me The Money (Business Models of Identity)

Session Convener: James Monaghan, Zack Jones

Notes-taker(s): Ankur Banerjee

Discussion notes, key understandings, outstanding questions, observations, and, if appropriate to this discussion: action items, next steps:

1. Ecommerce
   1. Customisation, e.g., this is my dress/shoe size, why do I need to enter it again and again? Can I just pass the data to ecommerce site and show curated results.
   2. Or, I want to buy a gift for my friend/sibling/spouse, and don’t know their size/preferences.
   3. Fraud loss prevention:
      1. Scammer buys an expensive item (e.g., TV or iPhone) using a stolen credit card
      2. Ecommerce site sends the item, but after a few days gets a chargeback. Net result: they’d lose the item and the money.
      3. Friction for doing a traditional ID check is too high in ecommerce, i.e., selfie-scan-check would be too cumbersome.
      4. Cheaper/faster checks to know if it’s a real person living at that shipping address will be valuable.
   4. Some ecommerce outfits prefer to NOT process credit data and outsource this to external payment processors to reduce their PCI-DSS risk.
2. DeFi
   1. DeFi marketplaces won’t really do or pay for KYC unless compelled by regulation.
   2. However, smaller marketplaces will do some form of check to reduce
3. Background/employment checks
   1. If there’s a regulated profession, then reducing the cost of background checks or reducing risk might reduce costs of insurance.
   2. Fundamentally, risk management to reduce costs
   3. Verifiable education and employment history
      1. LinkedIn is considering this?
      2. Can be used to prove DEI hiring goals are being met
      3. Removing bots from applications, since companies get inundated with fake applications
      4. Maybe this can be integrated into Application Tracking System (ATS) software for better sorting and verified history
4. Financial institutions
   1. Better, more comprehensive credit-scoring or loans data rather than what’s reported by the credit bureaus
5. Healthcare
   1. Covid credentials
      1. Venues did NOT want to know personal details, vaccination dates etc.
      2. However, some employers WANTED to know
6. Community moderation (e.g., Discord, Telegram)
   1. Reducing spam bots and low-quality spammy users
      1. Mostly this is done using CAPTCHA checks right now but this is less likely to catch low-quality human spammy users
      2. A lot of large communities on these platforms already pay for software tools for automated monitoring and flagging, as well as pay for human moderators
      3. Knowing through a credential that a user is authentic and high reputation can be extremely useful.
7. Open source software
   1. Highways etc are built as a common good and funded by the government. Is there a similar example of this in software?
   2. Government pays, because it’s a public good
   3. Companies fund a lot of software since it reduces their cost and embeds their idea

See image(s) for these notes in the IIWXXXIV Book of Proceedings here:

https://internetidentityworkshop.com/past-workshops/