SOURCE: Datablink

Datablink

July 24, 2017 06:00 ET

Datablink Introduces a New Bitcoin Transaction Security Solution

New patent-pending solution to be launched during RSA Conference in Singapore aims to help dramatically strengthen the security of digital currency transactions by no longer simply relying on weak usernames and passwords

Company to partner with providers to easily and quickly differentiate their services and mitigate risk

TYSONS CORNER, VA--(Marketwired - July 24, 2017) - Datablink, a global provider of advanced authentication and transaction verification solutions, today announced its entry into digital currency protection.

Through its new Datablink Secure Transaction Solution, the company harnesses its award-winning expertise in authentication to arm digital currency wallet providers and institutions with a solution that uses Datablink's push technology to protect digital currency transactions as well as account access.

The majority of bitcoin and other digital currency transactions are initiated with a simple username and password over a single band, making them vulnerable to attack. Datablink looks to offer a simple and fast process for providers to differentiate their service by offering an easy yet powerful solution that leverages push technology to enable their customers to verify and authorize a transaction in a 2nd out of band channel -- the same mechanism many traditional financial institutions use to protect their customers from transaction hijacking, fraud and unauthorized account access.

Datablink's Digital Currency Security Solution eases and secures the login or transaction process by providing the user with a push authorization message request via mobile phone in real time. The service can leverage the security by using the existing multisig (Multisignature) system for digital currencies. This enables Datablink to prevent:

  • Fradulent transactions
  • Man-in-the-Middle/Mobile attacks that hijack transactions and tamper with amounts or recipients
  • Unauthorized access to wallets

"There's no reason to keep bitcoin and other digital currency transactions at risk," said Alexandre Cagnoni, CEO at Datablink. "Simple usernames and passwords, or even one-time passwords (OTP) are not enough. Datablink is pleased to provide a proven and powerful tool for providers to offer that extra peace of mind for customers that face an ever-growing number of advanced threats. The nature of digital currency usage is rooted in simplicity and empowered users -- we aim to reinforce that expectation for providers through our easy, affordable push technology that prevents unauthorized access or redirected transactions."

For more information on the new patent-pending Datablink Secure Transaction Solution, contact info@datablink.com or +1 703-639-0600.

About Datablink

Datablink is a global provider of advanced authentication and transaction verification solutions. Banks and enterprises around the globe rely on Datablink's innovative out-of-band technology to protect billions of transactions and millions of users every year. Headquartered in Tysons Corner, Virginia, Datablink has been honored with numerous industry awards for its powerful security technologies. For more information, visit www.datablink.com.

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