Lack of security? Blockchain is at the service of identity protection

Lack of security? Blockchain is at the service of identity protection

March 19, 2021

– If ever there was still the need for it, just take a look at all the identity and data fraud cases to realise that passwords alone are not enough to protect our online identity. Among the various solutions offered to make our online accounts more secure, blockchain is gaining more and more ground, as well as an increasing number of supporters. Namely, it may guarantee both high levels of security and greater control for users over their online data and information. Should this happen, we would be faced with a kind of Copernican revolution of the entire sector. One would break away, once and for all, from a model in which log-in details and other sensitive information are controlled and managed by large organisations – telephone or email service providers, banks, governments and other central authorities – to move towards a model in which data is kept in large public ledgers controlled by a network of users. In a nutshell, a blockchain. Using a ‘personal information’ manager is the safest route One of the new solutions from the cryptographic world to bypass insecure passwords and phishing attacks is the lnurl-auth protocol. This enables users to access their various accounts with a QR code they receive with a special message. So it allows for the use of a public key associated with their wallet to generate a unique key that is only compatible with the domain they are trying to access. The key would authenticate the fact that they are the owners of the account. According to a survey by Proofpoint, in the United States 44% of those interviewed used a password manager, i.e. a protocol that stores passwords and can enter them, as needed, in forms for their online accounts. Indeed, Proofpoint says that password managers are the most secure option:

“We have found out that many users generally reuse passwords or don’t change them regularly because managing passwords is inconvenient. Moreover, many find it difficult to remember increasingly complex passwords for the multitude of online services they are using today, which includes things like corporate intranet logins, bank accounts, streaming services accounts, government services accounts, etc. This is why we strongly recommend a password manager”.

More than a password manager: SignChain Auth Strong Authentication Blockchain We are well aware of the fact that remembering all your passwords or keeping them somewhere safe is anything but easy. However, with SignchainAuth you will be able to access your personal services entirely in line with PSD2 through your smartphone, confirm bank transfers and log onto personal areas. If something unexpected happens to your mobile device or if you forget your PIN number, your keys are revoked, but your ‘history’ can always be tracked back to you. Plus, it can be used with any device or operating system. SignChain Auth is a unique solution because it is

  • secure and innovative, as it uses one-shot keys;
  • fast and reliable, as it is blockchain agnostic;
  • transparent and always traceable, thanks to a secure key authentication system;
  • smart, because of the innovative use of smart contracts;
  • everything is registered on a blockchain.

So what are you waiting for to make your life easier, more secure and trouble-free? Try SignChain Auth!

Related Stories

March 19, 2021

The US market (and global ones) are opening up to custodians. But Italy is still at a standstill.

Activities such as the custody and service of an investor's assets – whether they are real or digital assets – are not widespread in Italy yet.