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Identity is a basic problem for any online transaction. For instance, Paypal's biggest innovations were around fraud prevention. Jumio is a great solution to
by dcaranda 13y ago
Identity is a basic problem for any online transaction. For instance, Paypal's biggest innovations were around fraud prevention.
Jumio is a great solution to bridge online transactions and offline verification (physical IDs, passports, credit cards).
If I had to speculate, I suspect Jumio gets disrupted by products that attack the root problem by no longer needing verification - more specifically, virtual currencies. But that feels like a distant prospect right now.
- praptak 13y agoI don't believe virtual currencies solve the verification problem. On the contrary - anonymity plus lack of chargebacks is a huge incentive for fraud. You can either drop anonymity or establish a trusted third party escrow-like service. In either case you need some kind of verification.