At the recent Money20/20 conference in Las Vegas, it was hard to walk two feet in any direction without hearing the word “blockchain.” Blockchain architecture is being hailed as a revolutionary technology and a major disruptor across just about every industry — particularly in finance.
But what is it, and why is it receiving so much attention right now?
A blockchain is a never-ending, distributed transaction ledger. Blockchains are managed autonomously, without the need for a central authority. They can be either public, or private. Many companies are turning to blockchains to streamline transactions, and to reduce costs and complexities.
Blockchains are also more secure than centralized databases, because they cannot be easily modified. The distributed architecture of a blockchain eliminates the threat of someone exploiting the database from a single point of entry.
If your business is considering implementing blockchain architecture, that’s a great start in safeguarding your data. But it won’t solve your user authentication problems. For example, while a blockchain setup can protect your business from unauthorized data tampering, it won’t protect your business from users making fraudulent transactions.
To nip the problem in the bud, you’ll want to couple your blockchain with a strong mobile voice biometric authentication solution.
Why use voice biometric authentication to secure your mobile accounts? A voice biometric engine will analyze a user’s voiceprint at the time of login and scan for a variety of determining factors before granting him or her entry.
With a voice biometric authentication solution in place, you can rest assured that all transactions within your blockchain are placed intentionally.
Are you to new to voice biometrics? Try a demo for yourself, and you will see just how easy and secure it is. To get started, click here.