Verizon Uses Blockchain Technology to Boost Security Portfolio

Verizon Uses Blockchain Technology to Boost Security Portfolio

Verizon Business has announced the inclusion of new security services using blockchain-based technology, including two new administration and identity access systems.

According to the US technology firm, these are Verizon Identity (VID) and Verizon Machine State Integrity, which are modeled in a Blockchain environment.

In the case of VID, the identity information is encrypted and then distributed in the blockchain through multiple servers, so there would be no centralized base that can be attacked by cyber criminals.

According to the company, Verizon ID will enable users to store their access credentials on their mobile phones in a “safe digital environment,” which is easier to access and validate.

Solution to the Old Issue

A study by Verizon entitled “Verizon’s 2019 Data Breach Investigations Report” showed that the use of stolen credentials involved 29 per cent of the breaches investigated.

The Verizon Machine State Integrity, on the other hand, will obtain operational data from fully decentralized environments to provide a broader picture of potential security problems.

The system continuously monitors a machine structure composed of servers, routers, gateways, among others, to create a verifiable chain of events based on the machine’s state, rather than just logs.

Alex Schlager, Executive Director and Chief Security Services Product Officer at Verizon Business, commented:

 “Cybercrime is a daily threat to every organization and government across the globe. Our 2019 Data Breach Investigations Report highlighted that financially motivated cyberattacks are increasing across the board, and that C-level executives are increasingly and proactively targeted by social breaches, linked to (for example) stolen credentials. […] These Verizon solutions offer a significant step forward in cybersecurity protection.”

In this case, the mechanism for leaving a small footprint is based on hash technology.

Verizon has stipulated that the VID is available globally to users. Meanwhile, as of the second quarter of 2020 the Verizon Machine State Integrity will be available to US users.

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