Verizon Business Adds Blockchain Technology To Security Solutions Offerings

Verizon Business has revealed that it is tapping blockchain-based technology to enhance its security services consisting of the new administration as well as identity access systems.

The two systems are Verizon Machine State Integrity as well as Verizon Identity (VID) that are developed on top of blockchain technology, the US-based technology company said on March 5, 2019.

The firm explained that for the VID system, the identity information and data is encrypted and then distributed via various servers within the blockchain, therefore, there is no centralized case where cybercriminals can launch an attack.

As per the firm, Verizon ID will enable users to hold their access detail in a secure virtual environment in their smartphones. This means that users will easily access and validate their security details with ease.

The new solutions are meant to address existing problems. In recent research by Verizon on data breach, indicated that at least 29 percent of all the breaches investigated were as a result of stolen credentials.

Consequently, the Verizon Machine State Integrity is set to gain operational data via entirely decentralized environments in order to provide a bigger picture of the state of the machine rather than just logs. The chief product officer at Verizon Business, Alex Schlager explained,

“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.”

Verizon also clarified that the VID solution can be accessed by users around the world. However, the Verizon State Integrity is set to be availed to the US clients starting from the second quarter of 2020.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Joseph Kibe
Joseph Kibe
Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Chainlink's Gas Consumption Keeping ‘Rock Solid' at 1% Despite the Jump in Feeds & Nodes

The 12th largest cryptocurrency by market cap is currently seeing gains of 3.53% while trading at $4.24, with the rest of the crypto market. It...

South Korea is Proposing A Tax on Profits From Crypto-Fiat Transactions

The South Korean Ministry of Strategy and Finance is proposing a tax on profits from crypto-fiat transactions, reported a local news outlet. The proposition was...

Chinese Developers to Use Telegram's Open-Sourced TON Blockchain To Launch Their Own Network

Chinese TON developers announce the launch of their variation of the TON blockchain after successive launches by TON Lab’s Free TON platform and...

JP Morgan Chase Set to Pay $2.5 Million in Crypto Class-Action Lawsuit for Overcharging

The largest bank in the United States, JP Morgan Chase has agreed to pay $2.5 million to settle a class-action lawsuit related to charging...

60% of Bitcoin Supply Not Moved in a Year, What Does it Say About the Next Bull Run?

May is coming to an end and bitcoin is looking to stay above $9,500, ending the month with about 8% returns. The market sentiments are...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today