Dilemna : Is Block chain Authenticate Enough ?
Jun 02, 2018 Posted / 1858 Views
The blockchain is a decentralized ledger which is enjoying its vital space in the financial industry but now they have interest in the nonfinancial firms. There has a deployment of the blockchain in various organizations such as the Microsoft and IBM which is helping them for global shipping and the distribution of their sales.
But the practical test is linked in between Walmart and the IBM as they both use the blockchains and they are tracking billions of their products through it and there is regular flow of their products and they have the largest supply chain management they are handling and they use advanced technology which does high potential and invests money in doing good endorsement which is profitable for their company and increases their technology potential.
IBM uses its blockchain system for doing a variety of work such as shipping of the product and to access the documentation process to monitor their transaction data and to grant access without the involvement to the central unit without any intermediary body.
The was been a forever battle of shipping and distribution in their networks whereas the blockchain is creating a way for a potential and well-documented audit trail which will not provide the key for fraud and reduce the authentication problem.
Basically, the authentication is done through by the use of the multifactor authentication in which the person needs to provide two or three attributes, fox example it, may provide with a pin number that can be accessed through any device such as the smartphone and PC or through a fingerprint.
When we combine all these attributes it creates a good attribute for the multifactor and lowers the risk of the authorization process. This blockchain deployment is launched without any sort of protection of the data and can rip the target for any fraud activities and it can fake the identity of being someone else.
The most common avoided thing of the multi-factor is that the authentication process offers two benefits such as enhancing the security as well as infringing its usability.
When the device becomes apart of the authentication process it provides a frictionless experience as it completely scans the hackers and makes us aware of the indicator of risk and fraud tools and to reduce the risk of any abnormalities of other attributes.
The blockchain is basically a commercial afflication and it is now in its infant stage and it will take many years to become a mainstream investment.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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