News > FinTech, Blockchain

BidiPass Aims to Bring Security to Each and Every Online Transaction

By NexChange
FinTech, Blockchain

It’s easy to see why some people don’t readily communicate or transact online. With billions of email accounts getting hacked and millions of people getting robbed by identity thieves, security has become a major – and continuously increasing – issue over the past few years.

Old-school password protection methods are getting weaker, while Two-Factor Authentication – such as the one Apple, Google, and Facebook employs – relies on you having your phone on you all the time.

The solution, according to BidiPass, is two pair Two-Factor Authentication with their proprietary encryption process:

BidiPass is a new platform that marries the usability of current 2FA solutions with a patented, bidirectional encryption process to further ensure the authenticity of the user. To summarize, it is an enterprise-level blockchain software that can help any online business to optimize their KYC process with increased security, convenience, and an effortless customer experience.

The platform works in three steps. Let’s say a service provider receives a transaction request: through a function, the provider will first encrypt a unique session key, which is then shown to the user in form of a code. The user will need to validate his or herself using BidiPass.  Once validated, BidiPass automatically decrypts the code and provides the user with a one-time access code. Finally, this access code will be used by the service provider to prove the user’s identity and finish the transaction.

The platform is easy to integrate and is not a replacement for whatever a company already has. It’s streamlined authentication process guarantees fast transaction speeds and more importantly, it emphasizes the customer by making his or her experience smoother and more secure.

Photo: Robbert Noordzij

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