Singularity University Grand Challenge

Many futurists consider the current era as a key turning point in global development. We face massive, fundamental issues — Global Grand Challenges —that can doom civilization to scarcity, destruction, and conflict. However, there are people and organizations that are leveraging exponential technologies to solve the problems and shift humanity to an era of abundance.

That's why Singularity University’s Global Grand Challenge (GGC) will evaluate the potential human and economic impacts of GGC applicants. They are looking for teams that are using exponential technologies to positively impact humanity on a global scale and want to offer connections, opportunities, resources, and recognition for their projects.

Trulioo is humbled to be selected to present at the Singularity University Global Summit in San Francisco on August 13-15, 2017. We will be presenting in the security track, which strives to help ensure the safety of all people from physical and psychological harm, including virtually; and protection of physical, financial and digital systems.

The numbers of people who face security issues are alarming; each year an estimated 2.4 million people are victims of human trafficking and 175,000 people die in armed conflict. Twenty-five percent of woman face domestic violence at some point in their lives. Online, hacking is effecting over one million victims around the world every day, while cybercrime costs is expected to grow to $6 trillion by 2021.

Although the issue is so vital, last year there was no GGC Award given for the security track; no organization presented a compelling enough solution to deserve notice. Hopefully, this will all change at this year’s Global Grand Challenge.

Security Through Identity

At Trulioo, our core mission is to provide a feasible way for all 7 billion citizens around the globe to prove their identity online, regardless of their location, situation, creed or environment. All the world’s citizens, from all nations – including developing countries – should have access to the same services as their more-developed counterparts, including the likes of financial services, insurance, and healthcare. By building a framework of trust online, developing best privacy practices and advancing financial inclusion, all people can gain access to the services they require to attain the security they need.

Consider refugees, who are often trapped stateless due to a lack of identity. Or immigrants, who have trouble opening bank accounts or getting housing as they can’t prove who they are. Or, the estimated 2.5 billion underbanked people who can’t get started on the first rung of financial inclusion, as they don’t have proper ID. All these people can dramatically improve their lives by getting recognized identity.

For all of us, an effective trust layer on the internet opens up transactional and communication opportunities. Proper identification hinders corruption and terrorist financing by assisting financial institutions to comply with Anti-Money Laundering and Know Your Customer laws. An impregnable, universal solution for cross-border compliance and preventing fraud and financial crime online protects all of us, and has a tangible, positive impact on lives around the globe.

While we know that building up an identity solution for all people is a complex and ambitious goal, it’s possible and necessary.  We look forward to talking with all the attendees about how to use identity technology to improve lives and positively impact the world. If you are attending, please stop by our booth in the Expo and chat with members of our team to learn more about our technology and mission.