One of the many promises of blockchain is its ability to fight against fraud and secure our globally connected systems. But not everyone is buying it. Two prominent security minds recently put their skepticism about the power of blockchain to digital print.
“For a transaction to be trusted – whether the person is accessing the blockchain to make a transaction in the ledger, or going online to Overstock.com to buy a new TV using Bitcoins –there needs to be a strong understanding that the person involved in the transaction is the person authorised to perform it,” writes Michael Lynch, CSO of InAuth. “There also must be validation that the device itself is “clean” and doesn’t contain malware or crimeware, and it isn’t being spoofed or potentially used as part of a velocity attack.” Mr. Lynch argues that blockchain alone cannot solve authentication problems.
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