How Ydentity Overcomes Security Issues

Security is a significant part of enterprise risk management (ERM). For instance, in the insurance profession solvency and economic capital management is 70% of the necessary risk management and is heavily regulated. The remaining 30% is the operational risk, which is a long list of perils that can befall customers, including natural disasters and man-made hazards such as terrorism. Arising from this operational risk scenario, the number one risk is cyber risk, and there is a need for enhanced cybersecurity in the ERM process. This has become more prominent as the digitisation wave sweeps the world. 

Security is not something to be retrofitted, and new privacy acts have already taken force in 2018, including the Privacy Shield USA and the Australian Privacy Act. The message is that confidentiality is what you get when you have integrity and transparency. 

Ydentity has selected Guardtime, a supplier of defence grade security Keyless Signature Infrastructure (KSI) as the underlying identification and cybersecurity blockchain integrated with the insurance distributed ledgers from the outset. Defence grade KSI blockchain technology provides the properties of trust, integrity, and provenance on a massive scale. These are properties that stand-alone data does not have, primarily if it has been sourced or processed in a separate environment out of direct sight or control. 

A defence grade Distributed Ledger Technology (DLT) – Blockchain Standard for Digital Identity – is an authentication and signature protocol meant to replace RSA as the standard for digital signatures. In the case of Ydentity, data can be verified without the need for any trusted third parties, keys, or credentials that can be compromised. Upon verification, KSI allows Ydentity to ascertain the signing time and the signing entity, thereby ensuring the integrity of the data. So, look forward to buying the YDY tokens and secure your identity with ease. 

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