Let's start with the definition of what idemeum is all about.
idemeum is a passwordless private digital identity platform.
First and foremost, our vision is to enable people and online services to go passwordless. We are tired of dealing with password resets, compromised accounts, and awful user experience.
Second, we dream the world where identity is portable. Set up your digital identity once and bring it to any service or even the new job that you get.
And finally, we truly believe that digital identity needs to be private. People should be empowered to control, own, and share digital identity only with who they choose to.
What does idemeum mean?
The word identity was first used in English by bishop and historian John Bale in 1545. Through Middle French, it all comes from the Latin neuter idem, meaning "the same".
When we thought about naming our product, we wanted the name to reflect our mission and what we stand for.
idemeum is comprised of two latin words: meum and idem that mean "my" and "identity".
We aspire idemeum to be truly yours. Something that you can own, control, and share only with people and services you choose to. And we want idemeum to be your digital identity. Not some random string of characters that is hard to remember, but your true digital identity that you can use personally and professionally.
Why do we care?
We have spent years in the identity and cyber security space, and yet we could not understand one paradox.
Digital identity is so critical to everything we do online, yet it gets compromised in almost every cyber security breach.
Every now and then we would hear the news and learn about yet another data breach where identity compromise would be at the core of it. And then we realized - we are not equipped with proper tools to protect our identity. We keep using old inefficient architectures and tools that have been invented years ago.
First passwords probably arrived at the Massachusetts Institute of Technology in the mid-1960s.
We keep using strings of characters that can ruin our lives and reveal everything about us. Your email. Your bank account. Your files. Your private photos. Your location. No matter how complex, no matter how unique, our passwords can no longer protect us.
We constantly try to patch passwords, but we are unsuccessful. For instance, despite the obvious benefits of Multi-Factor Authentication (MFA), online services tend to leverage this technology on a selective basis. Why? User experience and convenience are compromised - try typing username / password followed by a one time token on a mobile device.
One thing became very clear to us - patching passwords is not going to work.
We are all so used to carrying driver's license (or any other physical ID) with us and using it universally to prove and verify our identity in the physical world. But the digital world is not quite the same. We have to create a new username / password combination and fill out lengthy forms every time we access a new online resource.
Average email is associated with 130 accounts.
And each of those accounts comes with the maintenance fee - you need to have unique and complex password and change it regularly according to security best practices. In reality, however, very few follow these guidelines. Social login is trying to solve this issue, but we need to be realistic - social login is password based, it is not flexible enough, and can not be used in a corporate environment.
Corporate digital identity experience is even more complex - job change requires complete digital identity reset with new onboarding, new account, new password, and new MFA.
At idemeum we believe that digital identity should be universal and easy to use across boundaries, including personal and corporate environments.
Modern digital identity is not simply a combination of username and password. It consists of hundreds of data points that represent you in a digital world - your preferences, your behaviors, shopping patterns, financial history, creditworthiness and many more. Today digital identity is scattered all across Internet with many services owning bits and pieces of it.
Unfortunately we constantly have to make a compromise - choose between privacy and simplicity. Take social login as an example - it provides speed and convenience for logging into new services online. But when you choose to log in with a social network, you authorize social network to represent you online. While this is often convenient for easy and quick access to the latest mobile app you want to try out, you are paying a price by allowing social providers to share and sell not only your data but also your digital identity.
There is impact to security too. With the proliferation of online services not only do we lack ownership of our data, but our digital identity also gets fragmented and stored across myriad of databases and stores. These central databases become honeypots for attackers, who target these databases with persistence and advanced tools in order to steal our personal information and monetize it by committing identity fraud or selling it on a dark web.
At idemeum we believe that digital identity should belong to people who can choose a company / custodian to facilitate digital interactions without selling or monetizing users' personal data.
That is why we decided to create idemeum. To fix current issues with digital identity.
We are passionate about making digital identity simple, secure, and private.