Verizon Business Enhances Security Services With Blockchain Technology

Verizon Business Enhances Security Services With Blockchain Technology

Blockchain News
March 7, 2020 Editor's Desk
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Verizon Business has declared the inclusion of new security services, including two new administration and identity access systems utilizing blockchain-based technology.  According to the US technology firm on March 5th, these are VID (Verizon Identity) and Verizon Machine State Integrity, which are modeled in a Blockchain environment. In the case of VID, identity data is
Verizon Business

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

 According to the US technology firm on March 5th, these are VID (Verizon Identity) and Verizon Machine State Integrity, which are modeled in a Blockchain environment.

In the case of VID, identity data is encrypted and consequently distributed by various servers in the blockchain, so there would not be a centralized base that can be charged by cybercriminals. 

According to the company, Verizon ID will enable users to save their access credentials in a “secure digital environment” on their mobile phones, which can be obtained and validated more efficiently.

A solution to an old issue

A Verizon study called “Verizon’s 2019 Data Breach Investigations Report,” revealed that 29% of the breaches investigated included the usage of stolen credentials.

On the other hand, the Verizon Machine State Integrity will receive operational data from fully decentralized environments, to give a broader picture of potential security issues.

The system continuously watches a structure of machines formed of servers, gateways, routers, among others, to build a verifiable chain of events based on the state of the machine, rather than just logs.

Alex Schlager, Executive Director and Chief Product Officer of security services at Verizon Business, gave his opinion:

“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 event, the mechanism relies on hash technology to leave a small footprint.

Services availability date

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

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