A blockchain login can help protect your business, as well as your privacy.
But what is a blockchain, and how does it help make your login more secure? Why would you want it for your business?
Well, it has already been posited that it could save many businesses money, as well as it being a more secure system.
Here are three key things you need to know about blockchain login procedures.
1. Blockchain Login Passwords Could Become Obsolete
When setting up a security system, you can go to incredible lengths to block every unauthorized access point. You can install all the right software. And hire a specialist to keep you safe.
Then, someone else in your business chooses the password '123456', or their surname, and it all goes downhill from there.
OK, so you can educate your staff to prevent this from happening. But you've got no way of knowing what they're really picking. There's still a big risk here.
Blockchain login procedures can use unique signatures of authorized devices to let users log in to very specific channels only. Along with a two-step identity process (sending a code to a mobile device, for example), this method becomes highly secure.
2. Blockchain Login Protects Data
Blockchain is a decentralized system, meaning that it isn't prone to security failure if a single user or point of entry is attacked.
Let's take Facebook Messenger as an example. If someone breached Facebook's servers, they'd potentially have access to chats occurring between users around the world.
Now, that's not likely, but security flaws turn up when they're least expected. In fact, it has been suggested that messaging service WhatsApp may have a major security flaw allowing this type of access.
With blockchain, hackers can't just reach in and take what they want. The data is distributed throughout the network and cannot easily be put together.
Even if your blockchain login was breached (unlikely), building your other systems with the same approach adds even more security.
3. Tracing User Paths
Blockchain logins can keep a record of unique user activity which can't later be edited or tweaked.
These systems use encrypted data to record this. So it would be possible to feed out the information on demand, to check for inappropriate usage or potential breaches.
With the cryptocurrency Bitcoin, the relevant blockchain keeps a record of who has paid what to who, and when. This system uses a pseudo-anonymous method of tracking this.
Each user is assigned a unique key - which is just a jumble of numbers and letters. So you can't see the real identity of the person behind it.
However, this doesn't have to be the case. So you can get hold of an uneditable ledger tracking user activity. This can be very useful in highly regulated sectors, such as financial services.
Learn More About Blockchain Development
If you're interested in learning more about the applications of blockchain, and how it could help your business, get in touch with us.
We're producing innovative new systems based on blockchain for clients, to help them succeed in a digital world.
Get a consultation with us so that we can reveal exactly what you need to take advantage of this highly-secure new technology.