Future of digital currencies depends on how confident public are that they control their personal information
Despite the recent volatility and uncertainty in cryptocurrency markets, the fledgling currency remains a popular investment and transactional alternative for hundreds of millions of people around the globe. But because this new technology is still in its infancy questions about its regulation and security linger.
The most effective way to protect customer data is through a combination of security and privacy protocols. Arguably the most secure protocol is blockchain — specifically, a blockchain-based decentralised identity solution that effectively enables users to own their personal information instead of having it all stored and managed by a single third party.
Of course, some personal data is required by any crypto platform to complete transactions, communicate with the client, detect and prevent fraud and other types of financial crimes, and generally provide seamless functionality. Also, as the crypto industry becomes more regulated there is a requirement for some client data to be collected to comply with KYC and global anti-money laundering/combating the financing of terrorism obligations.
The most common forms of biometric authentication are face and fingerprint recognition. Both have become commonplace for users of smartphones today, and the convenience and security they offer are enabling them to enhance forms of password, SMS code and authenticator app methods of user identity verification on many crypto platforms.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What drives Alpine’s design fundi?What drives Alpine’s design fundi?: The creator of iconic vehicles at Renault, Antony Villain, on history and the future
Read more »
The future of the Catholic church is being forged in AfricaThe future of the Catholic church is being forged in Africa - The church on the continent is growing fast but not all clergy hold with the pope’s progressive ways
Read more »
What drives Alpine’s design fundi?What drives Alpine’s design fundi?: The creator of iconic vehicles at Renault, Antony Villain, on history and the future
Read more »
THAT'S THE WICKET: First SA20 is a game changer, reaping riches and pulling in the crowdsThe competition has exceeded all expectations, laying a strong foundation for the future.
Read more »
Klopp 'Makes Decision' On Liverpool Future | Soccer LadumaIs he going to quit? 🧐 Liverpool manager Jurgen Klopp has revealed his plans for his future amid the club's recent poor run of form. SLInt MORE:
Read more »