This book argues that identity is changing profoundly and that money is changing equally profoundly. Because of technological change the two trends are converging so that all that we need for transacting will be our identities captured in the unique record of our online social contacts. Social networks and mobile phones are the key technologies. They will enable the building of an identity infrastructure that can enhance both privacy and security - there is no trade-off. The long-term consequences of these changes are impossible to predict, partly because how they take shape will depend on how companies (probably not banks) take advantage of business opportunities to deliver transaction services. But one prediction made here is that cash will soon be redundant - and a good thing too. In its place we will see a proliferation of new digital currencies.
David G.W. Birch is an internationally-recognised thought leader in digital money and digital identity. In 2013 he was named one of WIRED magazine's global top 15 favourite sources of news from the world of business and finance and was ranked the no.1 influencer in European emerging payments by Total Payments magazine. He is a Director of Consult Hyperion, the technical and strategic consultancy that specialises in electronic transactions. Described at the Oxford Internet Institute as "one of Britain's most acute observers of the internet and social networks", in The Telegraph as "one of the world's leading experts on digital money", in The Independent as a "grade-A geek", by the Centre for the Study of Financial Innovation as "one of the most user-friendly of the UK's uber-techies" and in Financial World as "mad", Dave is well-known for his thought leadership blogging, podcasts and events for Consult Hyperion's Tomorrow's Transactions series.