Sydney Ifergan & TCA Impressed with New Decentralized and non-Hackable 2FA CardJune 12, 2019
The leading cryptocurrency news platform The Currency Analytics has some great news to share. Mr. Sydney Ifergan, crypto expert and founder of TCA, recently had a meetup with a new company from Vilnius that has developed a new decentralized and non-hackable 2FA SIM card to protect mobile data & digital identity. Titled “FIX Network,” the company is a joint venture of 5 international firms that are renowned innovation leaders in 4 major industries (telecommunications, cybersecurity, mobile application development as well as business management).
It was a strategic meetup hosted in Tel-Aviv and leaders from several fields were represented. Two of the five companies were from Israel and included one of the top names in cyber industry. The FIX Network team traveled all the way from Vilnius to Tel Aviv.
How Would FIX Network Help?
The recent news of a million dollar theft from businessman Robert Ross’ account has raised serious concerns about security issues of a 2FA SIM card. Modern hackers have already found the loophole to break into 2FA system and access customers’ mobile phone, email and bank accounts. Unfortunately, the security levels offered today do not seem to be adequately effective to protect your digital data. According to TCA and Mr. Ifergan, FIX Network claims to offer a powerful solution here.
“FIX Network is designed with the idea to make the existent cellular infrastructure more secured through its new blockchain-powered security protocol. This new infrastructure is engineered to help mobile operators leverage the security of customers identities and digital assets like cryptocurrency. We have met with the team (FIX Network) coming and I was impressed by their professionalism,” stated Mr. Sydney Ifergan.
Blockchain-powered PoS-based Infrastructure
A blockchain network comes with a decentralized structure which makes hacking quite a challenge. Any data that are entered into the blocks (after validation) cannot be manipulated or altered. Moreover, a blockchain system enables users to embed permission-based access that too helps to bypass hacking. Besides, the FIX Network will work with PoS, using masternodes. According to Mr. Ifergan, PoS (Proof of Stake) algorithm lessens threat of 51 percent attacks.
Only SIM Holder Can Confirm identity
With FIX’s SIM card, the identity can only be confirmed by the cardholder. No one else can confirm the identity of the cardholder. In the case of Rob Ross, his identity was stolen by the hacker via an agent in AT&T (his network carrier). But there is no such feature with FIX’s card.
The SIM will also act as a 2FA for B2C and B2B, like a Yubico key or a Titan security key. It can assure secure access to several places and lastly can also act as a crypto currency wallet. FIX’s state of the art technology will enable safe transaction for the users by signing by the SIM card itself and there is no need to reveal the user’s private keys.
Operators Will Earn for Transactions
FIX Sims will offer directly to users across 177 countries with a one-time payment and with lifetime service that carries unlimited signatures/transactions. The company will release its product components in open-source format so that operators can implement its cutting-edge technology and update their subscriber’s SIM cards remotely. Participant’s operators willing to offer the technology will also earn from the transactions.
“With an affordable one-time payment and lifetime service, FIX Network stands as a great competitor to cold wallet products,” Mr. Ifergan added.
For more information about FIX Network, please visit https://fix.network/