Blockchain Technology: A new chapter in Identity & Access Management

Author: Baskar
Reading time: 3 mins

Why do you need an IAM? These tools help businesses manage their corporate identities and each employee’s access to different resources. Typically, these IAMs work based on a centralized database of user names and passwords. Single sign-on (SSO) works with this database to confirm identity and access permissions.

However, this database also becomes a centralized target for malicious actors. Whichever platform you’re using – your IAM solution, Active Directory, or any other identity provider – such a database is a tempting ‘honey pot’, a target for hackers.

Enter the Blockchain IAM

Blockchain-based IAM solutions will be able to authenticate identity without the use of passwords. Based on your organization’s DID (decentralized identifier), blockchain credentials will be recorded and tracked on the distributed, shared, immutable blockchain ledger. The public key will be stored on the blockchain servers, while the private key will be pushed to user.

In the case of Akku’s upcoming blockchain version, employees will need to enter their DID on an Akku app on their smartphone. A private key will then be pushed to their device, activating access to the app on that device, which can be used to enable login and access to all corporate assets.

Managing digital identities without a single point of vulnerability

Using the Self-Sovereign Identity (SSI) model, digital identities can be managed in a distributed ledger system. This ensures that there’s no single point of vulnerability for hackers to attack. Your user credentials are secured with the tamper-proof distributed ledger.

Since blockchain-recorded credentials are recorded in a distributed ledger, they cannot be altered or impersonated. This guarantees integrity of identity during authentication, and you can be sure that your authenticated users are really who they say they are.

An additional layer of security is guaranteed through passwordless authentication.

Prevention of user impersonation through passwordless authentication

Since there are no passwords involved in the user authentication process, there is no risk of passwords being compromised or hacked. Our QR code-based passwordless authentication process is seamless, immediate and extremely secure. In addition, the authentication process also offers a seamless user experience.

As we move beyond passwords for authentication, you gain a number of benefits:

  • Security from easy-to-hack passwords, poor password policy compliance, common passwords, etc
  • Streamlined login process as they avoid password resets and other requests to IT support team
  • No risk of compromised passwords and user impersonation

The blockchain is the next big thing in cybersecurity, and Akku is excited to be at the forefront of this revolution. The private decentralized, immutable ledger feature of blockchain technology changes the IAM landscape considerably.

Talk to our team of experts about how to get started on your blockchain journey. Get in touch with us today.