Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Photo: Zak Hussein/Corbis via Getty Images

The Center for Strategic and International Studies and McAfee released a new report on modernizing the Social Security number system Wednesday. And the numbers are a thing that need modernizing — we use them as identification in everything from mortgages to job applications, despite the fact that they're easy to steal.

The problem: “If we look at how well we're doing right now with Social Security, an estimated 60–80% are already compromised,” said Candace Worley, McAfee vice president and chief technical strategist. That’s because the online world has opened up previously unavailable potential for hackers to steal and sell Social Security numbers.

The problem with solving the problem: There’s an obvious next step to solving the problem — using the Social Security number like a username and using something else as a password or changing the number to something harder to steal, like a biometric. But many of the global models require national databases that the U.S. populace is traditionally against.

  • India uses a biometric ID system, but U.S. citizens won’t enjoy giving up their fingerprints to the government.
  • A national ID with a smart chip could solve the problem, but U.S. citizens don’t love national IDs.

The bottom line: A middle-ground solution, according to the report, might be to allow private companies to run smart card based identifiers, kind of like a credit card. Citizens could chose who would be in charge of holding their data and replacing lost or stolen cards.

  • Worley agrees there’s a downside that would need to be ironed out: It’s hard to get private firms involved without necessitating a subscription model.

Go deeper

Mike Allen, author of AM
12 mins ago - Politics & Policy

Why Trump may still fire Barr

Photo: Jabin Botsford/The Washington Post via Getty Images

Attorney General Barr may be fired or resign, as President Trump seethes about Barr's statement this week that no widespread voter fraud has been found.

Behind the scenes: A source familiar with the president's thinking tells Axios that Trump remains frustrated with what he sees as the lack of a vigorous investigation into his election conspiracy theories.

Mike Allen, author of AM
12 mins ago - World

Scoop: Trump's spy chief plans dire China warning

Xi Jinping reviews troops during a military parade in Beijing last year. Photo: Thomas Peter/Reuters

Director of National Intelligence John Ratcliffe on Thursday will publicly warn that China's threat to the U.S. is a defining issue of our time, a senior administration official tells Axios.

Why it matters: It's exceedingly rare for the head of the U.S. intelligence community to make public accusations about a rival power.

Ina Fried, author of Login
31 mins ago - Technology

Tech's race problem is all about power

Illustration: Eniola Odetunde/Axios

As problematic as the tech industry's diversity statistics are, activists say the focus on those numbers overlooks a more fundamental problem — one less about numbers than about power.

What they're saying: In tech, they argue, decision-making power remains largely concentrated in the hands of white men. The result is an industry whose products and working conditions belie the industry rhetoric about changing the world for the better.