Who Are You. Really?

The Equifax data breach raises an interesting question. What happens when so many people have had personal information compromised that it's effectively impossible to authenticate anyone with it? If, as some people are saying, about half of the adult population of the United States have had their information stolen, what happens if a significant portion of them apply for credit freezes, as has been recommended?

I suspect that we won't see a large enough segment of the population applying to really impact the credit industry, but it would be interesting if they did. I can't speculate on what the overall effect would be, but it might wind up being something that prompts a change in how institutions validate identities.