03/12/2021

2022 will see demand for stronger levels of trust & identity

Lehi, Ut

As the current year winds to a close, many of the uncertainties that shaped 2020 still remain. The cyber security challenges that accompanied the pandemic have persisted, as hybrid remote workspaces have become a way of life. And through it all, the threat landscape continues to evolve, as innovations in cloud computing and other arenas open up new threats — some in unexpected areas.

To take stock of where we’re at and what lies on the horizon, Digicert cyber security experts have made some predictions for 2022, amongst them is the suggestion that the question of trust and digital identity will be at the top of many priority lists.

Companies in every industry have been embracing digital transformation for years, and the trend is accelerating. Research shows that the global digital transformation market is expected to grow at a compound annual growth rate (CAGR) of 24% from 2021 to 2028. As complex technology becomes a deeper part of every organisation’s most critical processes, Digicert experts predict that the use of digital signatures will increase — and will require a stronger level of trust and identity.

Stakes are growing for digital signatures. Digicert says that more workflows will be associated with digital signatures, in industries like financial services, real estate, healthcare and education. Digital signatures are also helpful for organisations with hybrid work, to onboard or support remote employees. The stakes are growing as digital signatures become more widely accepted, and, according to Digicert, a recent lawsuit in Austria/Switzerland actually invalidated a €3 billion agreement because it utilised the wrong digital signature.

Long a leader in deploying electronic signatures, Europe is updating its eIDAS Regulation, learning the lessons of the Covid-19 pandemic to enable high-quality remote validation of signers’ identity by Qualified Trust Service Providers. In addition, new proposals will dramatically expand the use of government-issued eID to facilitate cross-border interactions. These changes are part of an ongoing trend to restoring control of identity to citizens, rather than private companies.

Identity and trust power the IoT and more. For data-driven use cases like the IoT, trust is more important than ever. Devices like healthcare monitors, industrial control devices, home security systems and vehicle sensors all depend on the integrity of their real-time data to support processes and decisions. As the adoption of 5G technology accelerates, Digicert predcits we will see an increasing convergence in IoT and 5G applications — which could invite more attacks. PKI remains a robust, proven method to assure trust in IoT environments.

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