Rivetz (RVT) to Provide Mobile Blockchain Cyber Security for Everyone
People in the crypto space are targets for hackers globally. As such, it is important to maintain high elves of security at all time, especially when carrying out a transaction on a mobile device.
Who Are Rivetz
Rivetz is a leader in simpler and better cybersecurity. It is powered by blockchain technology. This firm plans to change this field by offering a built-in security protocol for mobile users at every level for businesses and individuals.
Rivetz showcased the latest mobile security innovation it has called Dual Roots of Trust at the Mobile World Congress Americas at the start of this year.
Dual Roots of Trust will secure private keys using a two-pronged approach. It will distribute the user’s private key between the mobile carrier SIM card and a Trusted Execution Environment. To do this, they will use advanced cryptography. The TEE will be a secured space already built in millions of devices.
How the Rivetz Technology Will Work
Users will maintain full ownership of the private keys and all other sensitive data with the TEE. Besides that, users will be able to contact the carrier to deny access to various applications on the entire mobile device using the SIM card. This can be quite helpful if the device is stolen or lost.
If the device is recovered, permissions can be re-enabled with ease. Dual Rots of Trust will create an environment where user security is guaranteed.
This development was the result of a partnership between Telefonica and Rivetz, which started early this year. Rivetz has been working with engineers from the Telefonica cybersecurity unit called Eleven Paths.
Securing A Major Vulnerability
Numerous incidents point to the fact that criminals are enjoying a lot of success attacking mobile devices for crypto. Hackers are able to access wallets and trading accounts. To do this, they simply take over control of the mobile device to work around the two-factor authentication to authorize changes to emails and passwords.
There is thus a need for mobile carriers to take responsibility for the lack of effort to protect these hacks. Right now, users have very few ways to protect their crypto coins. This is why third-party initiatives like the one by Rivetz is so important.
Even prominent crypto owners like Michael Terpin have been hacked. He sued AT&T for $224 million this year for their role in helping a hacker who took control of his phone and stole his coins.
A Solution For Businesses
Many employees today use personal devices for work. Thus, they put company data at risk. Hackers are able to gain access to sensitive company data using mobile devices. These companies can use Rivetz-enabled apps to ensure any interactions with important data on phones are secure.
When an employee leaves the company, access to the company apps can be revoked on the particular device. It is easy to regain access if it is deemed appropriate. Initiatives such as this one by Rivetz are important in a world of crypto.