Blockchain
ZorroSign Announces Passwordless Login to Eliminate Future Potential Vulnerabilities
ZorroSign, Inc., a pioneer of real electronic signature and a patented document fraud and tampering detection system built on blockchain, today announced multiple advancements in the platform’s security and identity protocols and overall product enhancements. First, the platform will be passwordless, providing users the ability to use multi-factor authentication. Earlier this year, One Time Password (OTP) was enabled for basic two-factor authentication. Second, as a part of ZorroSign’s Identity as a Service (IDaaS) feature roll-out, as an additional security protocol, US based corporate customers will now be able to purchase a premium service that will allow for Knowledge Based Authentication (KBA) in order to validate a user. Third, users can now use advanced secure mobile biometrics to sign documents.
Currently, using a username and password is the main means for authenticating users. This protocol often leads people to use passwords that are simple, because when passwords get complicated users forget them. As a result, people use the same password or copy and paste passwords. This leads to security vulnerabilities. Passwordless environments provide total security without users having to remember complex passwords.
ZorroSign users can use the passwordless feature by scanning a QR code on the login screen. Once the QR code is scanned the mobile device will prompt for biometric verification. If the device doesn’t have biometric capability the user will receive a pin code via email or text. When authenticated the user will be logged in automatically, achieving a passwordless environment for increased security.
Users will have the option to turn on the passwordless feature using the ZorroSign mobile app.
“For ZorroSign, TRUST is everything. Security and privacy are the cornerstones of everything we do,” said Shamsh Hadi, Chief Executive Officer at ZorroSign. “The future of privacy and security is here. We are the first to provide our customers with the option to utilize the most advanced security and privacy protocols, which is not a focus area of our competitive landscape. This reinforces our commitment to providing the most advanced, secure, accessible, privacy focused, electronic and digital signature platform on the market, while maintaining our own digital certificates placed on the blockchain at a competitive price.”
The ZorroSign advanced Digital Business Platform uses Digital Transaction Management principals to streamline end-to-end digital transactions. ZorroSign’s real (patented) Electronic Signature technology is not just an image of a signature super-imposed on a document capturing only the “intent to sign.” ZorroSign users actually electronically or digitally sign a document.
Today marks the next step into the future for ZorroSign. Leading into the first half of 2020, ZorroSign will release a digital signature solution recognized by all global Certifying Authorities (CAs), which will use a cryptographic technique that helps secure the signed document and the data that is associated it. The principle of a digital signature is that of a validation, like notaries in the past. Digital signature is the online equivalent of a notary that can be verified electronically and instantly. ZorroSign’s impending digital signature solution will include digital security certificates that never expire.
Also, looking forward to the first quarter of 2020, ZorroSign’s Chief Technology Officer, Priyal Walpita, is focused on Identity as a Service (IDaaS) and working to release really exciting technologies specifically in the space of Artificial Intelligence (AI) and Machine Learning (ML). One of these include the ability to use ML in areas like identification, facial recognition and to recognize a true signature. Further, ZorroSign is working on partnerships that will permit users to use a technology product to sign and compare current signatures to previous signatures.
SOURCE ZorroSign
China, renowned for its significant role in the global cryptocurrency mining industry, is facing increasing scrutiny over the environmental impact of its growing blockchain sector. Concerns about carbon emissions and energy consumption are prompting regulatory bodies to take action.
To understand the future trajectory of this sector, we consulted leading AI platforms to predict the fate of eco-friendly digital currencies, often referred to as “green cryptocurrencies.”
Regulators worldwide are expected to focus on sustainability and reducing energy consumption in cryptocurrencies. This could lead to potential restrictions on high-energy blockchains. Green cryptocurrencies, such as Cardano, Algorand, and Tezos, utilize Proof of Stake (PoS) consensus mechanisms, significantly reducing their carbon footprint compared to traditional Proof of Work (PoW) systems like Bitcoin.
Bitcoin, the most well-known cryptocurrency, is under scrutiny due to its substantial energy demands.
A single Bitcoin transaction consumes a significant amount of electricity, which raises environmental concerns. As the focus on green technologies grows, it may influence Bitcoin’s price and the broader cryptocurrency market, potentially driving interest towards more sustainable alternatives.
On the global stage, responses to the crypto energy crisis vary. Some countries like Sweden and Iceland have embraced green crypto mining due to their renewable energy sources. However, China, once a leader in crypto mining, is predicted to implement a ban on high-energy blockchains to address environmental degradation associated with these activities.
This anticipated ban could encourage other nations to consider similar measures or adopt more sustainable practices in crypto mining. The collective shift towards green crypto could reshape the economic and environmental landscape of digital finance, creating a new paradigm where technology and sustainability coexist for global benefit.
Source: cyrptonews.com
The post AI Predicts China Will Ban High-Energy Blockchains appeared first on HIPTHER Alerts.
The finance sector worldwide is increasingly exploring blockchain technology, which offers permanent transaction records and reduces reliance on centralized Web2 servers. Germany’s Kreditanstalt fuer Wiederaufbau (KfW), the third-largest state-owned bank, is now joining this trend by planning to issue its first blockchain-based digital bond. This move not only marks KfW’s entry into blockchain but also aims to drive wider adoption of the technology.
The bond KfW plans to issue will be tokenized, essentially creating a virtual representation of the bond on a blockchain to validate its transactional history and ownership. Tokenization offers several advantages, including the automation of interest payments and maturity settlements, as well as reducing the need for intermediaries, thereby cutting overall transaction costs.
Melanie Kehr, Member of the Executive Board of KfW Group, described the planned bond issuance as a “crypto security” and emphasized the bank’s commitment to innovation.
Source: gadgets360.com
The post German Bank Set to Tokenise Bonds, Drive Blockchain Adoption: Details appeared first on HIPTHER Alerts.
Two men, Jake Lee and James Heppel, have been sentenced to jail for stealing over £5.7 million worth of cryptocurrency from victims globally. Identified by the South West Regional Organised Crime Unit (SWROCU), the pair targeted 55 victims across 26 countries, including 11 from the UK. Lee received a four-year prison term, while Heppel was sentenced to 15 months.
The fraud involved replicating the website of the cryptocurrency exchange Blockchain.com to access victims’ Bitcoin wallets, enabling them to steal funds and login details. The police confiscated various assets, including £551,000 in cash, £64,000 worth of cryptocurrency, and a Banksy print valued at £60,000.
Lee was ordered to pay nearly £1 million as part of a confiscation order to compensate victims, with similar proceedings underway for Heppel. The investigation began when Lee was arrested on suspicion of money laundering, leading to the discovery of the cryptocurrency scam involving Heppel. Detective Superintendent Matt
Source: bbc.com
The post Pair jailed for £5.7m cryptocurrency scam appeared first on HIPTHER Alerts.
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