Revolutionizing Online Security with Private State Tokens

Private State Token is a cutting-edge technology that serves as a vital component of the ongoing efforts to enhance online security.

Why the Private State Tokens are Important

It presents a remarkable alternative to traditional fingerprinting approaches while simultaneously protecting user privacy.

By enabling anonymous identity verification, Private State Token is uniquely positioned to bolster the security of user accounts and combat fraudulent activities.

In the face of recent trends such as the blocking of third-party cookies, browsers being updated to reduce the possibility of fingerprinting, and the increasing popularity of VPN solutions, Trust Tokens have emerged as the ultimate solution to mitigate these challenges.

It promises to revolutionize the way we approach online security, offering a more robust and reliable framework for anonymous user authentication.

What can be the use case in online antifraud

Here is an example of how Private State Tokens may work:

1. A user visits an e-commerce website and performs actions that lead the site to believe that the user is a real human, such as browsing product pages, adding items to a cart, and making a purchase.
2. The e-commerce site uses the Private State Token JavaScript API to trigger a request for trust tokens for the user's browser.
3. The e-commerce site receives token data from the user's browser and securely stores it for future use.
4. The user visits a different website, such as a financial institution, that wants to verify if the user is a real human: for example, when applying for a loan or opening an account.
5. The financial institution site uses the Private State Token API to check if the user's browser has trust tokens stored for e-commerce sites that the financial institution trusts.
6. Private state tokens are found for the e-commerce site the user visited previously.
7. The financial institution site makes a request to the e-commerce site to redeem the trust tokens and verify that the user is a real person who made purchases on the e-commerce site.
8. The e-commerce site responds with a Redemption Record that confirms the user's identity and activity on the site.
9. The financial institution site uses the Redemption Record to verify the user's identity and approves the application or account opening.
10. The e-commerce site and the financial institution site work together to ensure that a user is a real person while keeping the user's personal information private and secure.

How Private State Tokens can be used in making a decision about a loan

Verify user identity

Private State Tokens can provide a trusted way to verify that a user is a real person who has made purchases on e-commerce sites.

This information can be used as a factor in the lending company's business rules to ensure that the loan is being approved for a real person and not a bot or fraudster.

Assess creditworthiness

The e-commerce purchases made by the user on the e-commerce site can provide valuable information on their creditworthiness.

The lending company can use this information in their business rules to make more informed decisions when assessing the user's ability to repay the loan.

Customize loan offers

Based on the user's e-commerce activity, the lending company can customize loan offers that are tailored to the user's needs and preferences.

For example, if the user has made purchases for home improvement items, the lending company can offer a loan product that is designed for home renovations.

Reduce fraud risk

Private State Tokens can help to reduce the risk of fraud since they are designed to ensure that a user is a real person who has made purchases on e-commerce sites.

By incorporating this information into their business rules, the lending company can reduce the risk of fraud and make more informed lending decisions.

How Private State Tokens can help with eCommerce Antifraud

Identify high-risk transactions

Private State Tokens can provide a trusted way to verify that a user is a real person who has made purchases on other ecommerce sites.

By incorporating this information into their rule engine, the ecommerce company can identify transactions that are high-risk, such as those made by bots or fraudsters.

Monitor for suspicious behavior

The ecommerce company can use the information from Private State Tokens to monitor for suspicious behavior, such as transactions made from multiple IP addresses or devices.

This information can be incorporated into the rule engine to flag transactions for manual review or further investigation.

Prevent account takeover

Private State Tokens can be used to prevent account takeover by verifying that the user is a real person who has made purchases on the ecommerce site before.

This information can be used as a factor in the rule engine to prevent unauthorized access to user accounts.

Customize fraud prevention strategies

Based on the user's ecommerce activity, the ecommerce company can customize their fraud prevention strategies to better target the specific types of fraud that are most prevalent in their business.

For example, if the ecommerce company is experiencing a lot of fraud related to the purchase of luxury goods, they can adjust their fraud prevention strategies accordingly.

Improve overall risk management

By incorporating information from Private State Tokens into their rule engine, the ecommerce company can improve their overall risk management and prevent credit card fraud more effectively.

This can help to reduce chargebacks, increase customer trust, and protect the ecommerce company's bottom line.