Sarah Lee
Anonybit protects your privacy and secures your assets with game-changing decentralized biometrics.
Contact center authentication is trending in the wrong direction. Don't compromise security for privacy. The potential of Web3 rests on strong identity management. Securing biometrics. In the Wake of SVB: 7 Identity Management Dangers. In the Wake of SVB: 7 Identity Management Dangers. Many Dangers Lurk in the wake of SVB, Identity Management and User Privacy Must Be Prioritized. The business world is rocking right now. The impact of the Silicon Valley Bank collapse is just beginning to be felt. Some people are saying there is nothing to really do except let it play out and try for find alternatives for short term cash and other safe havens in the meantime. But this is only one side of the coin. As we all know, the money that flows through the banking system is what powers our economy, our businesses, and what puts bread on our tables. When I first heard the SVB news, my initial reaction was that the fraudsters are going to have a field day.
I’ve been thinking about this more and thought it was important to use my platform to alert people on what exactly I meant by that and what could go wrong so folks can be educated and on alert: 1. 2. 3. 4. 5. 6. 7. The implications of these threats span the startups who are at the core of this crisis, their vendors, their employees, other banks and government agencies. These are definitely trying times. In the Wake of SVB 7 Identity Management Dangers. Securing biometrics. Securing biometrics. Securing biometrics. Setting the Stage for Universal Decentralized Identity. Setting the Stage for Universal Decentralized Identity. Setting the Stage for Universal Decentralized Identity.
Setting the Stage for Universal Decentralized Identity Year after year, the steady growth of cybercrime has steadily pushed digital security experts to venture into new territory when it comes to developing new infrastructures that can truly safeguard personal identifiable information (PII). These efforts have only become more urgent, with 71.1 million people falling victim to malicious cybercrime every single year. After all, the detriment of fallible security systems ultimately falls back on users, as the average individual endures $4,476 in annual losses from these cyberattacks. Thankfully, recent developments have led to the increasingly popular opinion that decentralized identity approaches are much more secure.
But as far as implementation goes, we still have a lot of work to do. What is decentralized identity, and how can it be leveraged to secure digital identity management? Decentralized identity speaks to a wholly independent process of user identification. Welcome to Anonybit. Where personal privacy meets digital security. Setting the Stage for Universal Decentralized Identity. Biometrics and GDPR, BIPA, Data Protection Regulation Compliance. Biometrics and Privacy Law Compliance Part 1: Global Data Protection Regulations and How Anonybit Steps Up to the Challenge (Note: The following blog is an excerpt of a comprehensive privacy law analysis that was conducted by the Anonybit team. To request a copy of the full report, click here.) Data protection regulations are driving enterprises around the world to rethink how they manage and protect personal data, from photos, to location information, financial, demographic, biographic, crypto assets and more.
The challenge of biometric security PECs are taking many shapes and forms to help protect sensitive data and can drive customer loyalty, increased security and more seamless digital interactions. It is a critical problem to solve; biometrics are vital to verifying identity and drive so many use cases across our society. Anonybit addresses this challenge by decentralizing biometrics for both storage AND matching, overcoming the past challenges around biometric privacy. NFT security GIF. Anonybit. Multi-Factor Authentication (MFA) has now become a ubiquitous requirement for online services. Whether they seek to qualify for cyber-insurance coverage or seek approval from the Federal Trade Commission (FTC), the requirements to apply multi-factor authentication are similar.
But there are a lot of misconceptions about what creates an effective MFA strategy. A recent study of 500 financial organizations worldwide found that there is broad confidence in the security departments' approach to authentication, with 90% saying that their approach is mostly or completely secure. Yet, this faith is dangerously misplaced given that 80% of organizations were breached in the last 12 months due to believed authentication vulnerabilities. It is surprising to see the seeming disconnect between perceived and actual authentication security. To understand where most common MFA methods fall short, let's review common attack vectors to bypass them. Passwords, PINs, and Knowledge-Based Questions.
Cloud based biometric. Biometric data security. Securing Biomatrics. Biometrics and Data Security - Anonybit. The use of biometrics to secure users’ access to locations, devices, and applications is exploding by any measure. Biometrics are the irrefutable link to “who you are”, as opposed to “what you have” and “what you know” which are easily stolen and used by attackers. There are other benefits to biometrics, including, they cannot be forgotten, there is nothing for a person to bring with them, they provide a good user experience, and so on. Strong identity systems based on biometrics provide an underlying fabric for social and economic development, provision of private and public services, as the basis for determining access to online services and enabling digital interactions. It is fact, almost impossible to separate identity needs from the way we live our lives, and this includes on the Metaverse as well.
Nonetheless, for all their benefits, biometrics are a very sensitive type of personal data and pose significant privacy and societal risks if not managed properly. No one is immune. Deciphering the Decentralized Biometrics Landscape. A storm is brewing in the identity industry. It is being caused by a trifecta of factors - consumer desire for more control over their personal data, never ending data breaches and lack of trust in our institutions’ ability to secure and protect our personal identities.
Other trends are also coalescing - relentless rise of digital interactions, emergence of Web3, NFTs and cryptocurrencies, and the use of blockchain technology in general to store and host digital credentials. Together, they are driving unprecedented growth and acceptance of biometrics as the irrefutable link between a person and their identity. The question is not whether, but how, to deploy biometrics in the larger context of identity management. We’ve put together the table below to align stakeholders on the different definitions and methodologies that can be considered, particularly as relates to decentralized identity and decentralized biometrics.
Feel free to contact us with any suggested additions or edits. The future of passwordless authentication needs the circle of identity. When Google, Apple and Microsoft announced on May 5 that they are going to partner together to usher in the passwordless era, there was a big cause for celebration. After all, over 80% of data breaches are related to password issues and the use of stolen credentials accounted for $24 billion in account takeover losses, a staggering 79% increase, according to Javelin Research.
Solving the password problem has been the mission for the three tech giants in collaboration with the FIDO Alliance, which has made this their mission since 2012. What the FIDO Alliance came up with is a set of interoperability protocols designed to simplify the adoption of passwordless authentication techniques. The protocols marry device biometrics (like FaceID and TouchID) with cryptographic keys that talk to specific online services. Piggybacking on a seamless user experience, FIDO has made it easy for enterprises to accept biometrics as a form of user authentication.
Anonybit. 5 Startup Ideas Around Blockchain - The Secret Guide. Blockchain technology is rapidly gaining popularity in the world of business. This disruptive technology has the potential to revolutionize a variety of industries, and it's no wonder why so many startups are exploring its potential. In this article, we'll share five startup ideas powered by blockchain technology that can benefit you in the long run.
So whether you're looking to launch a new service or create a new product, read on to learn more about this exciting technology. Ready to get started? 1. You may already have a tax consulting business or run your own. When you buy or sell a cryptocurrency, the IRS considers it an "event. " If the procedure could be automated, it would help the trader and save money. 2. We're still far from the mainstream adoption of digital coins as a means of payment for all kinds of goods and services. Dropshipping is a great way to avoid dealing with the storage and delivery of cryptocurrency. 3.
This framework is disturbed by blockchain. 4. 5. Anonybit. I’ve been getting asked this question a lot over the last several months, as the word has gotten around about my latest venture. The answer is at once complicated, and yet, quite simple. The simple side of the equation is that over the course of my career, I’ve helped other founders grow and transform their companies into global powerhouses, position them for mergers and acquisition, introduce them into new markets, translate their businesses across geographies and channels and create a wealth of possibilities for nascent ideas that needed to blossom and shine. Now, the time has come for me to step into the founder role and bring my passion and know-how into a space that I know intimately well, working with people that have a proven track record, and to address a long-standing problem that has enormous societal implications – that is, how our personal data is stored and managed.
I know this will be a humbling assignment. Starting up and scaling up a new venture always is. Three Unique Benefits of Cloud Based Biometric. Today, the inclusion of two types of technology is the primary reason for any business's growth. Decentralized biometric cloud design and cloud-based biometric systems are two examples. Attending office was once required since people had to personally sign their names in attendance registers to receive their salaries. But no longer. Thanks to cloud-based biometric solutions, people can now register their attendance even when they are on the move.
The best part of a cloud-based biometric system is that attendance data are securely stored in the Cloud and cannot be tampered with. Most crucially, an organisation's personnel can view attendance from anywhere. Some people may be concerned that because Decentralized biometric cloud design allows sensitive data is stored in the Cloud, the security of the data may be jeopardised. Users can store their attendance records in the Cloud and access them using cloud-based biometric solutions. Only a stable connection is needed. Non-transferable.
Importance of Cloud Based Biometric & Turnkey Authentication in a Growing Business | by Sarah Lee | Apr, 2022 | Medium. Thanks to technology today, the primary reason for the growth of any business is the inclusion of two kinds of technology. One is Cloud-based biometric systems, and the second is turnkey authentication. Traditionally attending office was mandatory because people had to manually sign their names in the attendance registers to get their salaries. But not anymore. Kind courtesy, cloud-based biometric systems today, people can mark their attendance even while there are on their move. And the best thing about a cloud-based biometric system is that the attendance records are safely kept in the cloud storage, where they cannot be manipulated. Most importantly, employees of an organization can access attendance from anywhere in the world. Role of Turnkey Authentication Some people may get worried, thinking the security of the sensitive information might get compromised because it’s being stored in the cloud.
Final Takeaway. 3 Reasons Why Biometric Privacy is the Way Forward – anonybit. In an increasingly digital world, where every information is available on the web, protecting your confidential information is becoming more complex. According to a global mobile consumer survey, years of regular biometric usage have reached a critical population. Over 63% of people use banking from their smartphone, and over 67% of people who transfer money online use at least one type of biometric authentication. Biometric privacy is essential to prevent an unauthorized party to identify your data. 1. De-identifying biometrics is the key to digital security and data protection De-identifying the biometric data before storage is necessary to ensure that the biometric data is only being used for the intended purpose and to prevent the unauthorized party from viewing it.
Biometric identifiers include physical characteristics like DNA, fingerprints, iris scan, and facial recognition. 2. 3. The biggest concern with biometric authentication is its immutability. Conclusion.