What is Digital Identity and what are the latest technologies? The Cirus Identification Framework design addresses several shortcomings of current approaches to online identification. These including data management, data sharing, advertising targeting, and data monetization.
What is a Digital Identity? The Development of online data monitoring systems
The advertising industry has long sought to create a simple, effective, and seamless user targeting system to serve targeted ads better. At the same time, it also dealt with fundamental privacy concerns. These arise when corporations collect, buy and sell private user data.
For example, third-party cookies have been used to track digital tracks and online user activity for years. However, they have a limited lifespan. Also, they involve a complex process of synchronizing files after recollection. This to effectively identify audiences.
To overcome this problem, there was a development of third-party solutions such as TradeDesk’s Unified ID 1.0. Unified ID 1.0 has improved cookie-based access by creating unique but centralized user identifiers on the Web. This is what creates your digital identity.
All of it has given way to Unified version 2.0, which works independently of cookies. It improves consumer privacy, has open-source code, and supports one-click website login.
However, Unified ID 2.0 also has problems. It uses users’ email addresses to identify and authenticate, so it doesn’t work for users who don’t want to share their email addresses with the platform. Unified ID 2.0 also doesn’t work well for small, medium, or beginning publishers. Mainly because the design is for large businesses. Consequently, here is where the development of the Cirus identification framework begin.
Cirus identification framework
The Cirus Identification Framework uses unique digital identifiers powered by a blockchain and secured by cryptography. It uses them to measure the digital presence, online tracks, and user activities.
The framework generates unique user private keys that control the shared and monetized data. At the same time, public keys for each user can be shared with content providers and publishers to display targeted ads.
This approach has many benefits, not only for the users themselves. Users can retain control over how their data is shared and monetized for the first time. Demand-side entities also have many advantages.
In particular, users no longer need to explicitly link their digital and real identities (for example, using a verified email address, as is necessary to use Unified ID 1.0). However, they will still enjoy the benefits of owning and monetizing their data.
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Benefits on all sides
Thanks to unique, cryptographically secured private keys, users will also retain complete control over their digital identities and have the right and authority to delete their profile and all data associated with it. Finally, users do not share personal information with a centralized entity such as TradeDesk.
Demand-side entities benefit from having access to better and more relevant user data, not to mention the ability to target users precisely without limiting or bothering users in any way due to frequency constraints.
Finally, supply-side players benefit from better ad relevance, better privacy, and better use of ad inventory. So keep an eye on your digital identity.
Combined, these benefits lead to better CPM rates, which measure the cost per 1,000 ad impressions. In other words, the Cirus identification framework leads to a higher value. This is a fundamental difference for this framework, which is only possible because it adds value beyond the four vectors. These are critical to the usefulness of any data-based initiative.
Those vectors are the use of a wide range of accurate data (diversity and veracity of data), the use of large data files (large volume), and the use of relevant data (real-time or near-real-time data flows, i.e., fast, high-speed data). All four-vectors add up significantly in value, giving the Cirus identification framework the potential to change the data space as we know it.
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Conclusion on Digital Identity
Everyone appreciates personal data, and sometimes it seems that we think what we would like or need. We already see ads for the product everywhere. Do you think data protection is going in the right direction?
