How many of you live in a city that is trying to undo lousy planning decisions from the last century? iVirtual has team members all over the world, and we have a growing footprint in Toronto, where the decision in the 1950s to build a massive city-splitting highway on the waterfront now seems like a bad idea to many people choked by traffic and unable to easily experience Lake Ontario.
Forecasting future needs is no easy task, especially when trying to plan something that will impact a lot of people. For example, virtually everyone on earth will be impacted by the Trust Architecture decisions being made today.
Trust Architecture describes the integrated technologies and approaches used to keep data safe while speeding up digital mobility and complying with ever-expanding privacy legislation. More than 8.5 billion data records were compromised in 2019 alone,
with the global average cost per data breach incident coming in at US$ 4.24 million according to IBM’S annual Cost of a Data Breach Report for 2021.
Meanwhile, the current traffic of billions of devices exchanging data flows across networks, APIs, and applications is about to expand exponentially. The growth of IoTs, 5G connectivity, applied AI, and the Metaverse will only accelerate that phenomenon. According to big thinkers like McKinsey & Co, Trust Architecture has emerged as one of the Top 10 hottest tech trends defining the future of the global economy.
Two models for global scale Trust Architecture include distributed-ledger technologies (DLTs), of which blockchain is the best known, and “zero-trust security”, an approach that focuses on securing resources like data, identities, and services, rather than securing a physical network. Since 2015, these two models have consumed the lion’s share of over $45 billion of investment producing over 24,000 patents.
Both models are advancing the underlying goals of Trust Architecture, and each promises to deliver enormous value at a critical juncture in the development of the digital economy.
Despite promising advancements, it is not unfair to wonder out loud if all angles are covered, especially when thinking about photos of men in suits from the 1950s standing over the plans to build the highways of the future. What perspectives – both today’s and tomorrow’s – might be missing from the picture? How can we ensure that the infrastructure being built is infused with the values, aspirations and terms of citizens all around the world that depend on data integrity and mobility?
As iVirtual builds YouOwnYou identity management technologies for today and tomorrow, we are embracing the best Trust Architecture technologies while working with young entrepreneurs, data scientists, data activists and leading people-focused brands to deliver the full promise of a Trust Economy.
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