In the peer-to-peer economy it is the borrower or lender of the asset in whom the other party must have trust and not an intermediary organisation. This OIX project looked at the extent to which identity verification of the counterparties, to a government agreed standard, would enhance user confidence and encourage people to conduct peer-to-peer transactions. It recognised that:
users may want to use a pseudonym in place of the normally used name in a transaction but would trust the website to have verified the real identity
most peer-to-peer websites already conduct some form of identity verification for users registering for their service and have peer review systems that enable users to build a reputation.
A fictional car journey sharing transaction was used to conduct the research. Car sharing is very personal and accentuates some of the characteristics that are critical for trust. The project was conducted as part of the investigation of how high assurance digital identities created through the UK government’s scheme, GOV.UK Verify, might be used in private sector transactions.
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Livia Ralph, GDS