Sony to use blockchain in user authentication system

Tech giant from Japan shows its interest in blockchain technology
30 October 2017   1126

The Japanese tech giant Sony offered the use of blockchain technology when creating a system of multifactor authentication of users in the performance of certain transactions. The corresponding patent application was published on October 26 on the website of the US Patent and Trademark Office, CoinDesk reports.

The document describes the use of two separate blockchain-platforms, which interact with each other within the framework of the Multifactor User Authentication (MFA) system.

This principle assumes that the user, in addition to the login and password, must also enter additional code that is generated with each new entry to a particular site or platform.

According to the idea of ​​Sony developers, these codes will generate one blockchain platform, after they will be transferred to the second platform to confirm the user's identification data when attempting to commit a transaction.

Possible transactions, as they say in the application, include "transfer of assets and the generation of contracts."

Most Crypto-Optimists Live in Norway, Bitflyer Study

According to bitFlyer's poll on future of crypto, europeans believes cryptocurrency has future
24 April 2019   101

Most Europeans believe that in ten years digital currencies will continue to be in demand, but they do not have the same confidence about Bitcoin. This is reported by Cryptonews, citing a study of the bitFlyer.

10 thousand people from ten European countries took part in the online survey. Of these, 63% believe in a “bright future” cryptocurrency. However, not all Europeans are confident in the future of Bitcoin - only 55% believe that the first cryptocurrency will exist in ten years.

It is also noteworthy that, despite the fall in prices of most cryptocurrencies that lasted for almost a year, the majority of respondents positively assessed the prospects for the development of the market.

Most of the “crypto-optimists” turned out to live in Norway - 73% of the inhabitants of this Scandinavian country are convinced that a decade later, digital currencies will still be in society. This is followed by Italy (68%), the Netherlands and Poland close the top four (67% each).

The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time
The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time

But the exact form of cryptocurrency will exist, almost no one knows. Only 8% believe that they will become money, and 7% - a tool for investment or a means of preserving value.

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility, but is also a direct impact of the constant media attention that is associated to its volatility.

Andy Bryant

COO, bitFlyer Europe

He also added that the study demonstrated how much remains to be done to increase public awareness of the benefits and opportunities of cryptocurrencies.