What Does Trust Mean in The Digital World?
The quality of interactions between two people depends on their level of trust, this is the same with technology. With increasing connectivity and global reliance on the internet, the level of confidence in people, processes, and technological activities must remain safe and secure.
The concept of digital trust is the ability of users of technology to carry out activities in an ethical, secure, safe and reliable fashion.
It is also a measure of confidence and competence in an organization’s ability to protect its stakeholders by securing and storing their data. Service providers and organizations must ensure that this foundation of trust is kept solid and that individuals and businesses who engage with their technology know that their digital footprint is secure.
Digital trust covers every aspect of technology from block chain technology to e-commerce, finance, media, health care and other industries, consequently, information must be kept confidential and data must be protected, yet data breaches occur more frequently than we would assume, notwithstanding the scrutiny that many users give companies or organization online which includes:
Engaging with only well-known brands or organizations.
Using strong passwords.
Checking the organization’s certificate information in the browser.
Engaging with sites recommended by independent organizations.
Ensuring that a security overview is provided by the organization.
Engaging with sites recommended by friends, family and forums.
Data Breach Cases
While considering these factors, what’s the certainty that these practices ensure that data is secure? Let’s take a look at examples of a breach in digital trust, and the consequences of a breach of digital trust.
Facebook - In 2018, Facebook experienced a flaw in its software which led to the loss of 29 million users’ personal data, this included CEO Mark Zuckerberg whose account was also compromised.
Avast - In 2019 Avast experienced a security breach when an employee’s VPN credentials were compromised to insert malware into Avast products. Although this breach didn’t jeopardize the customer's details, imagine if it was otherwise.
Equifax - In 2017, 145 million Americans' personal details were lost due to a vulnerability in the company’s website application.
The results of the data breach for the above companies and some others who have suffered the same fate have been a loss of customers, loss of revenue, damage to the organization’s reputation, damage to assets and financial penalties.
Key Areas of Digital Trust
How can we trust sharing vital information like bank account details, addresses, phone numbers, and social security numbers to companies or organizations we do not know, having faith that the information we are providing will not be misused or tampered with? Let’s take a look at some key areas relevant to digital trust:
Data Privacy: must be managed by controlling who has access to data, and encryption is necessary to protect data from anyone without the appropriate password.
Security: It’s imperative for a company to be able to guarantee customers that there’s no threat to the information provided for various interactions and transactions, risk management must be put in place, and corporations must do the right things and not pinch pennies in providing security for their customers.
Identity: Customers must be able to trust that their identity is anonymous unless they state otherwise.
Risk mitigation: Identifying threats and vulnerability to assets must be performed constantly to discover if there are loopholes in the security system so that they can be fixed to hinder cyber security attacks or vulnerabilities.
Data integrity: Organizations must put in the necessary measures to ensure that information or data is uncorrupted, and can only be accessed or modified by authorized personnel.
The Principal Pillars of Digital Trust
Responsibility and Ethics
Let's take a look at IoT (Internet of things); technology is moving at a fast pace and devices are interconnected to exchange information.
We have smart cars, smart houses and biometric systems etc. The realization of how data is interlinked and the need for digital trust cannot be expressed enough. To be able to connect to this kind of advanced technology, organizations must be inclined to generate higher levels of credibility and trust to put their customers at ease regarding their safety.
Transparency and Accessibility
There must be a substantial level of transparency in digital business practices, this is necessary to build trust in an organization’s ability to deliver promises and intentions in providing quality products and services.
Ensuring that terms of service and privacy policies are accessible and easy to understand, a lot of individuals are guilty of not going through terms of services or policies because of how bulky they can be, it’s also important as individuals to go through these policies to make sure that we are in agreement before proceeding with engagement.
Also, allowing customers to access help to support channels gives them a level of trust in the services that are being provided knowing that they have access to help when they are in need.
Security and Reliability
Organizations or digital businesses must be accountable for the security of online users and the personal information they provide. Different verifications or authentications must be put in place to minimize cases like identity theft, fraud etc. Also, alerting customers and flagging suspicious account activities using Automation and AI to reduce errors and fraud is a necessary approach.
Privacy and Control
Data sharing can be concerning to a lot of users, typically engaging with websites is usually a trade battery situation, this means in other words you will not be able to have access to certain services unless you’re willing to provide vital information, and customers may be uneasy about the kind of information they are letting out.
In recent times, companies are moving towards a zero-trust model which enables customers to share data they prefer in exchange for personalized benefits, making them feel more in control of the situation.
Top 4 Cyber Security Solutions
These pillars mentioned are necessary for growth, and businesses/companies/organizations must strive to follow them to build a strong lasting relationship with customers. Digital trust is a necessary part of the internet and there are a lot of security technology companies that offer digital trust and cyber security solutions, let’s take a look at a few:
1. Data Guard
Data Guard offers solutions to help customers remain in line with privacy regulations. Offering customer data flows, document data breaches and third-party audits. They also provide necessary processes in place to attain important certifications such as ISO 27001 (International organization for standardization) which is an international standard responsible for managing information security.
