Proof Featured on Nasdaq Trade Talks

Proof brings trust to online transactions with a range of identity-security products. Proof CEO Pat Kinsel spoke with Nasdaq’s Jill Malandrino as part of a conversation on the identity fraud crisis, including the impact on real estate transactions, and why privacy and trust matter more than ever. He described the gap between today’s status quo and where the right policy and technology can take us.

“I think there’s a model that we can all look to to solve the problem, and it’s your credit card. It’s a tokenized representation of your financial information. We need the same for identity. So when you transact across a network of people, you’re not having to disclose everything. And when there’s a breach, you just cancel the card, right? That’s the equivalent world that we need to move to. Companies like Proof are working to solve that problem. The good news is there’s a vision of where to get to. One of the challenges is that it’s sometimes hard to get people to care about these problems. There’s still this sense that fraud is the cost of doing business and it’s baked into these industries. But when it impacts a person, it can be devastating. In the real estate industry, if your wire is stolen, it’s not covered by anyone. You’re out $100,000. Retirement funds: I could go on and on. So there’s a lot of good work happening now at the trade-association level, the industry level, and in government to rethink liability frameworks, to rethink policy. I do see a path forward to solving this problem.”