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| The Technology of Trust |
The Technology of Trust
Creating Confidence in the Digital Economy
In today’s digital economy, with business, transactions and social interactions going online and mobile, users want safety and privacy. With IoT and FinTech becoming part of human life, people want to be sure about who they are dealing with and how their data and interactions are handled.
With cybersecurity attacks, online fraud and fake news, startups are using technology to try to create trust in the online, digital world to attract more users and to make them transact more in the digital economy. Lack of trust, or trust deficit, will hold back growth in the digital economy.
In India, with the government pushing a cashless economy with demonetisation and further user of Aadhaar and UPI, unless more people are comfortable transacting online, the government’s tryst with technology, Digital India will not come to fruition.
From caller ID, ID verification, cryptocurrencies using blockchain, encryption, anti-virus software and embedding due diligence into digital platforms, startups are developing tech to give users peace of mind and trust in the virtual world. These startups are developing the technology to create trust needed for the digital economy to grow. More investment is needed from VCs into startups that are developing tech that creates confidence in digital.
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