Bob Reid, CEO of Everest, discusses decentralized user-owned identity, the trillion-dollar opportunity of identity, fraud prevention, building societal trust, India's Aadhar system, governmental choke points, the application stack, missed opportunities of Facebook, the coming fake-identity AI tsunami, levels of verification, preventing exploits, the likelihood of social revolution in Europe, accuracy of biometrics, paying with crypto, tokenizing securities, and the importance of user-controlled digital identity.