Embracing a Passwordless Future: Navigating the Shift to Decentralized Security in 2024

The world has swiftly embraced digitalization, empowering individuals to accomplish over 90% of their daily tasks through mobile apps or web interfaces.
Activities like bill payments, flight bookings, health consultations, and even exploring one's DNA lineage have become more accessible, thanks to digital platforms.
Despite this progress, the average person manages about 35 accounts with traditional string-based passwords serving as the primary means to protect personal information.
In December 2023, biotech company 23andMe experienced a security breach affecting nearly 7 million users, highlighting the vulnerability of string-based passwords, with a Google report revealing that 56% of individuals reuse passwords across various platforms.
To address these challenges, the industry is transitioning towards a decentralized model, envisioning a future where users transact using portable verifiable digital credentials, eliminating the need for traditional passwords.
This shift aims to enhance security, reduce user fatigue from multi-factor authentication, and simplify the authentication and authorization process.
Governments are exploring the unification of citizens' digital credentials, enabling access to public services with government-issued verified credentials.
Educational institutions are considering VCs to streamline onboarding processes and provide secure access to digital learning content.
This modern approach ensures users have control over their personal details stored in a digital wallet on various devices, secured by biometric gestures such as fingerprint, voice, or face recognition.
Users can release or retrieve their VCs, and authentication becomes decentralized, free from traditional passwords.
The adoption of decentralized identity and verifiable credentials extends across sectors, including HR employee management, education, healthcare, government, and fintech.
Recognized bodies like W3C are advocating standards for decentralized identity, providing an opportunity for businesses and institutions to create interoperable designs aligned with this new model.
In this architecture, trusted identity providers, potentially serving as decentralized issuers, play a crucial role in certifying digital credentials.
While witness ledgers, employing technology akin to blockchain networks, ensure traceability and trust in VC transactions, new vendors and institutions may emerge to compete in this evolving space.
Embracing this approach enhances security and efficiency for organizations, mitigating risks associated with email phishing, brute force attacks, and password breaches.
It also streamlines operations, reducing operational costs tied to managing outdated password information and account recovery.
This modernized vision of a portable account and passwordless future is essential for businesses to adopt promptly, safeguarding against sophisticated password breach incidents in 2024.


This Cyber News was published on www.cysecurity.news. Publication date: Sat, 13 Jan 2024 15:43:05 +0000


Cyber News related to Embracing a Passwordless Future: Navigating the Shift to Decentralized Security in 2024

Passwordless Login: Effortless Authentication - Let's explore how passwordless login paves the way for seamless and secure user authentication, fostering trust and loyalty. The Password Dilemma Though conventional complex password-based authentication has long been a cornerstone of robust ...
9 months ago Feeds.dzone.com
Embracing a Passwordless Future: Navigating the Shift to Decentralized Security in 2024 - The world has swiftly embraced digitalization, empowering individuals to accomplish over 90% of their daily tasks through mobile apps or web interfaces. Activities like bill payments, flight bookings, health consultations, and even exploring one's ...
9 months ago Cysecurity.news
Exploring the Phenomenal Rise of Ethereum as a Digital Asset - In this exploration, we delve into the multifaceted layers of Ethereum's meteoric rise, dissecting the technological breakthroughs, the vibrant community dynamics, and the pivotal moments that have propelled it to the forefront of the digital asset ...
8 months ago Hackread.com
Are organizations moving away from passwords? - Passwordless authentication emerges as a calculated response, eliminating the inherent weaknesses of conventional passwords. At the heart of this evolution lies the deployment of passkeys-sophisticated cryptographic tools designed to authenticate ...
10 months ago Helpnetsecurity.com
In Pursuit of a Passwordless Future - Many computer users dream of a day when the industry can move past its reliance on passwords to reach a more serene future of frictionless cybersecurity. The fact is that countless remaining devices and systems have been aging and based on password ...
11 months ago Securityboulevard.com
In Pursuit of a Passwordless Future - Many computer users dream of a day when the industry can move past its reliance on passwords to reach a more serene future of frictionless cybersecurity. The fact is, countless remaining devices and systems are aging relics that have been based on ...
9 months ago Cyberdefensemagazine.com
12 Software Dev Predictions for Future - Predicting the future of software development trends is always a tough call. Such trends will also rule the future of the software development industry. Analyzing these future software development trends will put enthusiasts ahead of the competition. ...
9 months ago Feeds.dzone.com
Renewable Energy Technology: Powering the Future - Engage in the discussion on how renewable energy technology is set to revolutionize our world and reshape the energy landscape for future generations. From rooftop solar panels to large solar farms, this renewable technology is leading us towards ...
7 months ago Securityzap.com
Taking Back the Web with Decentralization: 2023 in Review - In the past few years, there's been an accelerating swing back toward decentralization. Users are fed up with the concentration of power, and the prevalence of privacy and free expression violations, and many users are fleeing to smaller, ...
10 months ago Eff.org
Embracing Security as Code - Everything is smooth until it isn't because we traditionally tend to handle the security stuff at the end of the development lifecycle, which adds cost and time to fix those discovered security issues and causes delays. Over the years, software ...
10 months ago Feeds.dzone.com
Cybersecurity jobs available right now: October 2, 2024 - Help Net Security - As an Applied Cybersecurity Engineer (Center for Securing the Homeland), you will apply interdisciplinary competencies in secure systems architecture and design, security operations, threat actor behavior, risk assessment, and network security to ...
1 month ago Helpnetsecurity.com
What the Future Holds for Data Security - Data security refers to protective measures used to prevent unauthorized access to sensitive personal and business data. Data security is not just about keeping hackers at bay. It also covers practices like data encryption, data masking, data loss ...
11 months ago Securityboulevard.com
Part 2: Smart Shift Left - In my previous blog post, we discussed the state of the union for shift left and and how many organizations are not implementing correctly. Recognizing the consequences of a poor shift left model. Many of the high friction points with a poor shift ...
7 months ago Feedpress.me
Security automation gains traction, prompting a "shift everywhere" philosophy - This year's findings revealed a clear trend of firms increasingly taking advantage of security automation to replace manual, subject matter expert-driven security activities to reduce cost and improve effectiveness. Organizations embrace advanced ...
10 months ago Helpnetsecurity.com
Microsoft Security Copilot improves speed and efficiency for security and IT teams - First announced in March 2023, Microsoft Security Copilot-Microsoft's first generative AI security product-has sparked major interest. With the rapid innovations of Security Copilot, we have taken this solution beyond security operations use cases ...
11 months ago Microsoft.com
Week in review: PoC for Splunk Enterprise RCE flaw released, scope of Okta breach widens - Vulnerability disclosure: Legal risks and ethical considerations for researchersIn this Help Net Security interview, Eddie Zhang, Principal Consultant at Project Black, explores the complex and often controversial world of vulnerability disclosure in ...
11 months ago Helpnetsecurity.com
A Practitioner's Guide to Security-First Design - Instead, organizations must proactively fortify their defenses and enter the era of security-first design - an avant-garde approach that transcends traditional security measures. Security-first design is an approach that emphasizes integrating robust ...
10 months ago Feeds.dzone.com
Exploring Blockchain's Revolutionary Impact on E-Commerce - The trend of choosing online shopping over traditional in-store visits is on the rise, with e-commerce transactions dominating the digital landscape. Blockchain technology emerges as a solution to bolster the security of online transactions. ...
11 months ago Cysecurity.news
What is App Security? SAST, DAST, IAST, and RASP. - Effective application security relies on well-defined processes and a diverse array of specialized tools to provide protection against unauthorized access and attacks. Security testing is a critical part of an application security strategy and should ...
10 months ago Feeds.dzone.com
Most IT Pros Felt Ready for Password-Based Attack; More Than Half Fell Victim - PRESS RELEASE. SANTA CLARA, Calif. - December 12, 2023 - Axiad, a leading provider of organization-wide passwordless orchestration, today announced the results of its 2023 State of Authentication Survey. The survey investigated the types of ...
10 months ago Darkreading.com
IaaS Security: Top 8 Issues & Prevention Best Practices - Understanding the risks, advantages, and best practices connected with IaaS security is becoming increasingly important as enterprises shift their infrastructure to the cloud. By exploring the top eight issues and preventative measures, as well as ...
10 months ago Esecurityplanet.com
6 Best Cloud Security Companies & Vendors in 2024 - Cloud security companies specialize in protecting cloud-based assets, data, and applications against cyberattacks. To help you choose, we've analyzed a range of cybersecurity companies offering cloud security products and threat protection services. ...
8 months ago Esecurityplanet.com
Outside the Comfort Zone: Why a Change in Mindset is Crucial for Better Network Security - Change is constant but it is not always wanted nor easily accepted. For the last two decades, the enterprise network has primarily consisted of appliances deployed in a controlled number of settings and locations. Security has typically been handled ...
10 months ago Securityweek.com
10 Best Security Service Edge Solutions - Security Service Edge is an idea in cybersecurity that shows how network security has changed over time. With a focus on customized solutions, Security Service Edge Solutions leverages its expertise in multiple programming languages, frameworks, and ...
8 months ago Cybersecuritynews.com
Five business use cases for evaluating Azure Virtual WAN security solutions - To help organizations who are evaluating security solutions to protect their Virtual WAN deployments, this article considers five business use cases and explains how Check Point enhances and complements Azure security with its best-of-breed, ...
5 months ago Blog.checkpoint.com

Latest Cyber News


Cyber Trends (last 7 days)


Trending Cyber News (last 7 days)