TECHNOLOGY and movies , biometrics are not the answer . They can still be beaten . The systems that back up the biometrics can be compromised , and signals from readers can be replayed or cracked if these systems aren ’ t designed and built well . In these cases , biotelemetry amounts to a password you can ' t reset .”
“ If we could jump to a zero trust network today , we probably shouldn ' t as it would amount to a new attack plan with the added pain of interrupting a lot of businesses and adding latency to transactions . The best course of action is the pursuit of these principles rather than the attainment of a naive and even counterproductive solutions false promise of fixing everything .”
Experts also foresee the integration of blockchain technology into the security aspect of the fintech sector . “ Blockchain technology has a huge potential to strengthen cyber security . Data on blockchains cannot be tampered with , as network nodes automatically cross-reference each other and pinpoint the node with misrepresented information . Also , as blockchain technology automates data storage , it eliminates the leading cause of data breaches – human error ,” says Kris Sharma , Fintech Sector Lead at Canonical .
Biometric authentication has become more of a norm in the past decade , as context-aware systems are likely to overtake the competition in the coming years . For example , voice-based identity confirmation systems and the zero-trust model will make transactions safer while keeping the user passive .
“Blockchain technology has a huge potential to strengthen cyber security ”
KRIS SHARMA CANONICAL