Digital Identity of Businesses and Employees - Federico Costa

uh and essentially combating AI um and in the space so without further Ado let me introduce um fredero um the CEO of cardinal big round of applause for Frederico guys cheers guys hello everyone so first of all I know it's the last one so I'm going to be chilly relaxing going to be a moment of um sharing some ideas setting some facts okay hoping maybe that to rise some thoughts and questions um I just want to share with you some of the information and some of the things we actually been working on for a few time quite a time right now and understanding a bit of the environment that we are approaching um as you can see oh I also have this the power now okay so as you can see we have this topic which is digital identities of businesses and employees a key technology and fighting Ai and fishing and control of digital assets okay so actually is a super wide area of things just I want to actually actually a bit explain you more about this um about me I have actually been inside the blockchain environment for quite most a lot of time uh born 1996 first company started in 21 years when I was 21 years old I actually have manag an MCO of cardo which is one of blockchain companies in ity to the builds blockchain applications and also been co-founder n CTO of free name okay that maybe someone one you knows freame is web free domain platform that enables you to own your domains and tldd and use it as digital identity inside the different worlds and environment um about this actually in the last period I also be as Italian Ambassador for blockchain for good alliance later also I invit you at the stage on the other side going to display a bit of informations and also I've been working with Itachi in M infastructure which actually corporates um in ity and Europe in for attaches also all around the globe the thing I would like to point to you is about digital identity and now here's some facts what are we talking about today so we're going to talk about digital identity as why is so important emerging issues with the II identity test test theft okay buiness compromising impact of identity T in the business and make compromising and then how blockchain can support us on the process things we don't want to talk about is digital fantasies about blockchain and love story about future and stuff like that I don't care about that okay so we don't just chill about and why it's digital digital identity important B well it's super important thank you so much jsart yeah okay it's important but why actually just to understand a bit all it allows digital environment to identify recipient commun in communication so I can identify which I have of course we know everything about that yeah know allows to Pro to provide proof of being author of something enables to give trust inside digital space allows to stipulate contracts and each digital identity represents someone or something so it can be used for IPs for example it can be used for emails as we know in digital contracts in certificates and blah blah blah blah blah lots of stuff fantastic okay but and here are some example so as we can see digital signature digital sign code of application wet of transactions Etc thing is these kind of theme okay it was handled in an approach when we used to have just pieces connected to the internet and full stop and that was an approach where we used to have root of certificates identifying each other and enabling so this way to have identities for everyone thing changes when we actually are entering into a space where everybody communicates with everyone first thing and second thing is where actually we need to have and to fight kind of attacks that we can receive based on the digital identity and actually this is a thing that is changing so in social media for example we are used to have right now the blue sign you know so you are trusted super fantastic until elom mask purchase X where Twitter XX okay when actually we got that Elon mask said you know what we can actually make people pay for being trusted and that made a mess mess the mess maybe you you may be aware enough about but the thing is when you think about the fact that you are into a trusted space and you think that the counterpart is trusted and it's the actual digital identity you turn off your schemas to see if actually who is the interlocutor so the one that you're looking at is actually a true or false figure and with this we got on Twitter for example that a fake account with the spot sign okay publish some bad stuff and that brought the entire stock value of the company dropping down so the thing is if we are into a trusted space or we expect we have a truster party on the other side communicating with us we expect that this information is true but it's not actually so this is telling us something we are into a different kind of world except in the past so right now we are into a situ sitation where we we can trust but trust needs to be defined in a new kind of approach a new kind of environment and so for this let's just introduce something more more in this kind of topic which is maybe you might be aware the thing is the emerging issues that happens with AI as you can see right now you can create multiple kind of bots writing in super stuff about anything emulate people also the voice okay so we are capable now right now with the technology so far that we have reached to create a lot of content that seems to be trustful okay and this emerg to have brute attack like in the sh I wrot here so in case of brute attacks okay no worri no worri uh uh what actually happens that if you can bomb people with fake information the the idea behind the TR the truth that actually people are receiving changes okay and so this mean it can have impact in lot of people and also in businesses because businesses are made of people yeah exactly wow fantastic so we are entering into something which is is it is historical as the identity TFT so I can can I can actually steal the identity of someone as a person of inside a company as the CEO of something I can do this kind of stuff and it's actually something that was happening in the past but now can happen much much faster and easier because the cost of using technology like AI drops down so everybody can be able to do that thing is we get into the email compromises business email compromising it's a super keyword check it out fantastic it's the way we want to to say and talk about the kind of attacks that occurs in the business industry you receive a you receive an email maybe about your supplier telling you that he has sent you the the invoice you have we want to go to pay the invoice you follow the bank account address information you send the payment the thing is it was not your supplier did you check it out about that you are not sure about that people actually do this if you want to do that something like something like this you can invoice um like a school or something that maybe has a field of grass and you invoice for the activity of cutting the grass they and just with the logo of the company that actually does this job thing is they're going to pay you they do not check if actually we the one that actually made the work they expect because they see the logo they see the email maybe similar this is called business compromising and it's actually happening a lot especially in great companies so and according to different research bus fishing and business May compromising are the number one source of cyber attacks in companies you can actually have an antivirus a firew that blocks you but when you actually can reach people just because they Trust on you that's easy and so anti fishing solution exist to to manage this but actually they Works in silos they just work inside a company not a whole chain of company I talk with the c the ciso of Leonardo company of um word defense blah blah blah stuff they said to me they don't receive direct attack their supplier receive the attacks and then the suppliers attack them that's actually how this this happening but let's talk about numbers by the federal Board of investigation that just to make to attention is the FBI oh my God super fantastic data okay fantastic I love it so it's 43 billion the fishing damage from 2016 to 2021 okay tons of money just in the last year it was three billion okay these number are rising super fast okay just let you know the average attack is around $137,000 per attack in this business may compromis it we are talking about many many many ding ding ding coins okay so we need to be aware about this kind of factor and so and these are some of actually the institution that are attacks why actually hospitals needs to work needs to run but are full of people that doesn't know anything about it attacks and whatever telecommunication there are super strategical information and companies artment Imports and trade companies always work into the shadow because they manage billions ofs of asset to be trade every day so they can't actually look to every kind of trusted identity and so some example you can receive an email like this right now it's not possible to be to be read but actually what they do is that they just send you a fake forwarded email so they craft a fake email here and they for word that to you by telling please hurry up we need to solve this and so you believe that just to say Finance worker pays out 25 million after video call with the fake Chief Financial Officer okay since the things are maybe cheaper to be done it's actually easy everybody can do that okay so think about someone out from an outer world trying to do that it's possible easy peasy so here we talking about blockchain and so now I'm going to just bring you a bit of blocking chain stuff just so we are into the topic digital identity needs to be H to be announced and a way we can do it is by enabling a database of digital identity signatures that enables me to understand who actually is the source of some kind of communication and this blockchain can actually support as it's a way where actually can use the technology behind that is the signature that digital signal that blockchain uses to actually improve like the proof of signature and using also the ecdsa Cur certificates it's super cool stuff do a check it out consider that after Bitcoin went out this kind of topic of ecdsa certificates scale up in terms of research and blah blah blah so do a check on that it's fantastic thing is what you can do is that you have an email you can sign like we are signing right now with two Factor authentication and with that you can actually then send it and verify the the author that's super fantastic super cool blah blah blah blah wow closing on this imagine you have two companies uh three companies working in a in a same solution they use an antivirus something like that to trust themselves with the blockchain you can have a whole bunch of supply chain covered with this kind of signature methods this is what we can discuss about this is what actually is the way to improve right now kind of communications what I'm saying to you is just a topic so it's not a solution okay but it's we can maybe look at it as a way to create some new kind of corporates Enterprise and solution to to fight against these kind of attacks that are skyrocketing in terms of prices and costs by using this kind of technology to close this topic of identity verification seems it very increasing in the future the cost Factor are rising due to lowering cost of AI and reachability by billion of users around the world and we need to drive all our communication to a zero trust approach something that right now we are not doing closing this however it canot only be technology we need also to for to to do as human perspective to be more prepared to handle these kind of threats closing this I just want to thank you launching your thoughts with a question mark at the end because maybe it's just an exclamation who knows or format issues anyway thank you very much and now [Music] you know what I what a session to end on guys cuz I think we've all been there we've all been scammed in the space hands up for you everyone that's been scammed in this SP once before yeah exactly it's about sharing our stories and learning from each other but uh we do we got time for one question or no we're heading straight through let's let's get a question to guys the final ceremony is just starting in the on stage one so everyone could you please head through there straight after this but we do have time for one question any questions from the from the audience there's got to be one question Tyler I know you've got a question I know you've got a question hi there uh my name is Tyler from myers.com I was wondering um when it comes to Identity what's the minimum identity you could imagine that we need in the space right now or are there any identity solutions that we don't have that you could imagine us needing so I reach you on this actually um the kind of identity we need is to have uh something like a digital passport of each employee I think it's one of the first way to use it right now each one of us as employee has its own email inside a company sometimes maybe it doesn't they just have sales company.com okay thing is when you are actually working managing payments payouts contract and you have more and more disc kind transaction and especially we are going into a market that has corporates and lot of little small business businesses what what we can do is that we can attach to that digital email also a digital certificate of signature in this way we are aiming to perform some something like a kyc in the communication by trusting the source of what I'm reaching the information from here what actually actually we can use is ecdsa so the certificates of signature that are show right now are issued by European Union are part of the normal route of certificates so we can just have an announcement on that and that's an interesting point of the approach connecting with the domain like we said before like your with the domains you can actually have public Keys signature over there and privacy key keys just to sign the information from your own key account closing that you're welcome thank you very much and another round of applause for fredero guys absolutely amazing um and and I just want to say as well while we're on this topic thank you for all of you guys coming today engaging with the conversations and also to the team that behind everything everything that goes on behind the scenes guys uh it's all possible thanks to the volunteers the coordinators and of course the founders so big round of applause to all of you for being here and I'll see you on stage one right away