A shiny new Fed Chairman will be keen to start with an interest rate cut—but the bank is growing more hawkish due to Iran

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As mentioned earlier, one approach to solving this problem is to simply make credential theft very, very hard. This is the optimistic approach proposed in Google’s new anonymous credential scheme. Here, credentials will be tied to a key stored within the “secure element” in your phone, which theoretically makes them harder to steal. The problem here is that there are hundreds of millions of phones, and the Secure Element technology in them runs the gamet from “very good” (for high-end, flagship phones) to “modestly garbage” (for the cheap burner Android phone you can buy at Target.) A failure in any of those phones potentially compromises the whole system.