So I haven't looked into Apple Pay and the specifics on how it works. What really strikes me as being gamechanger is the ability to sign legal contracts from your own laptop. I've never come across anything like this in the US, where I can accept a loan agreement or something similar from the comfort of my own home.
Maybe this is a business idea to think of for the future.
Upon further research, I see that the BankID is provided in two different forms. It seems there is a universal key which can be used to log into most websites, while there's also a private key which will be tied to one specific site. Here's another website with some more info on it:
The benefit is risk reduction, not absolutism. You make it hard for lazy people with a bone to pick to find your old Tweets. You also increase the ambiguity (was this screenshot faked?) and costs for someone trying to uncover old Tweets at scale.
Yeah, just got to think about it as like a bike lock. It won't stop dedicated attackers or the government, but it stops opportunists and by putting it slightly above the rest of the low hanging fruit.
A more prudent question would be whether these tech companies should be reined in by federal privacy law. Should they be allowed to collect, trade and analyze private data on all of its users? Where do we draw the line in the sand, in terms of what's acceptable and not.
These are incredibly important questions. A related field would be the credit bureaus, such as Equifax. Global companies who store social security numbers and all other sorts of information. We need a national set of rules for these companies to follow.
Not keeping my hopes up, given our Congress is so dysfunctional these days.
In all likelihood, this is simply the tip of the iceberg. I see Twitter's stock is collapsing, due to similar concerns. Nothing is private anymore in this day and age.
And yet - If we're concerned about what Facebook has on us, then just imagine what kind of treasure trove the government sits on.
Maybe this is a business idea to think of for the future.