Indian IT Firm Blockbase Stresses On Unique Identification In Financial Institutions
Indian IT company Blockbase Consultants equals beat with the onslaught of digitization, through highlighting unique identity by implementing digital identity solutions to financial companies. Being secure and hassle-free, the blockchain digital identity solutions of Blockbase Consultants require unique identification concerning each user because of the owner of transactions beneath his or her name.
Reason Behind Stressing On Unique Identifications
Financial institutions all over the world, relenting to the need for blockchain-backed methods for increasing security and protecting customer information, look ahead to the production of digital uniqueness. With the solutions of Blockbase Consultants, financial companies now possess the extent to obtain digital identity services, through ensuring uniformity and interoperability into risk management systems, in-house operations, plus customer-facing methods for getting additional profits.
The CEO’s Verdict
Talking about the digital identity solutions of Blockbase Consultants with the media, Raj Chowdhury, the CEO stated “The digital identity solutions backed by blockchain appear to be permanent, readily accessible, safe, and efficient, thereby contributing a reliable audit trace. Blockchain helps to signify a depository of every transaction in hashed packets identified as blocks. These advantages of BlockBase’s solutions over conventional ones signifies its capacity to record each identity shared in the global system, thereby constantly maintaining regulated data within the network.”
What Blockbase Has in Store?
The solutions of Blockbase Consultants operate on the public-key cryptography system, whereby viewing each identity as an essential pair. Due to the use of information transfer to addresses, the DLT-based digital identity appears to signify a private key concerning data reading for financial institutions. Because of an intensified social media system usage along with the startling degree of cybercrimes, the company intends to make a determined digital change, hence necessitating improved security including their solutions. Preserving consumer’s trust, the company thoroughly looks ahead to stimulating users by their service.
Source: Yahoo Finance