A “digital passport” that operates on blockchain can eliminate the need for passwords. This can be achieved by replacing password/username architecture by issuing SSL certificate to user device. The certificate data is stored on blockchain and authenticated with that technology.
Hackers usually target authentication servers and password databases to carry out mass attacks. Hence, lack of centralized server helps in making the attacks impossible.
Each time the user logs back in, the issued keys used during last login are completely destroyed and are replaced for the current session. @FA is added to the process for additional security.
CEO of REMME, Alex Momot says that he had made this start-up as a consequence of his personal experience.
“The idea first came to me when I lost my password to [my] ethereum genesis wallet way back in 2015. In the end, I was able to guess the password, but it became a final countdown for REMME. From this event, the idea of REMME WebAuth 1-click user authentication was born.”
While working on this password problem, REMME initially focused on storing IP addresses and geolocation on blockchain. Eventually, this turned out to be unfeasible. For this reason, REMME came up with designing digital passport.
Momot also added:
“Now we are building an infrastructure for secure distributed authentication and validation of users, businesses and devices across the web, with digital certificates,” Momot said. “We aim to make the process secure and at the same time simple. When dealing with cyber-security, every detail is important.”
The first goal of the project is to provide better authentication for users and for devices with the help of blockchain as it provides uncensorable proof. The network makes the activity tamper proof and hence reduces cybercrimes. The second goal understand and establish a path to distributed ledger technology.
As this technology advances, we will step into the world where passwords would become thing of a past.
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