January 1, 2015
Your Wallet Is Looking Slimmer In 2015
The long road to the lighter wallet has come to the ultimate destination, your ID. In 2015 we will see about a dozen states allow for full IDs to be digitized and secured within a smartphone.
There are a lot of reasons for this massive shift. Trusted security is a priamry driver. One is the astounding success of Apple Pay. Apple has proved that a smartphone can be secured via TouchID and the Secure Enclave along with Apple Pay's Secure Element and encrypted NFC.
The future of the digital ID is grand. It has more benifits than downsides for most of us. The reality is all states have digitlized Drivers License since the Patriot Act. The 'last mile' was to allow the Driver's License holder to present the document in a digital form.
There is a standard that is being developed that has roots back to the late 1990s. This will allow for the digital Drivers License to be an acceptable and legal form of ID in every state. Currently there are 30 states that have laws that specify the standards required for the image of the Drivers License. Iowa is leading the charge with tests that are already underway.
Your Secured ID Sent Via NFC
Apple is in a great position to help move this standard further with TouchID, the Secure Enclave and NFC forming the basis. Android systems could replicate some of what Apple will have, but not to the same user friendly level.
The backbone will be the use of NFC to securely transmit your ID to authorized parties. This will also form a basis of true identity, if desired by the user within the smartphone to serve any number of ID related events.
I see this move forward as a very large opportunity for astute startups to build new and unique use cases based on the secured ID and NFC. I have identified about 30 direct use cases that would create new industries and change dozens of others.
Perhaps not in 2015, but a bit beyond the dream of most gentlemen to go wallet-less may become a true reality. However I think it will be perhaps a very long wait to see a purse-less world, for so many reasons, and this too is ok.